BlackRock Inc. Has $241.46 Million Stake in Tanger Factory Outlet Centers Inc. (SKT)

BlackRock Inc. grew its position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 1.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,975,582 shares of the real estate investment trust’s stock after purchasing an additional 142,726 shares during the period. BlackRock Inc. owned approximately 11.61% of Tanger Factory Outlet Centers worth $241,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SKT. Ceredex Value Advisors LLC purchased a new stake in shares of Tanger Factory Outlet Centers during the first quarter valued at approximately $63,994,000. Mackenzie Financial Corp purchased a new stake in shares of Tanger Factory Outlet Centers during the fourth quarter valued at approximately $7,041,000. Cbre Clarion Securities LLC purchased a new stake in shares of Tanger Factory Outlet Centers during the fourth quarter valued at approximately $6,921,000. Virtus Fund Advisers LLC raised its stake in shares of Tanger Factory Outlet Centers by 5.9% during the fourth quarter. Virtus Fund Advisers LLC now owns 2,917,416 shares of the real estate investment trust’s stock valued at $77,341,000 after purchasing an additional 163,134 shares during the period. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Tanger Factory Outlet Centers during the first quarter valued at approximately $2,647,000. Institutional investors own 99.06% of the company’s stock.

In other news, SVP Carrie A. Warren sold 2,357 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $20.80, for a total transaction of $49,025.60. Following the completion of the sale, the senior vice president now owns 55,501 shares of the company’s stock, valued at $1,154,420.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Charles Allen Worsham sold 4,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $21.12, for a total transaction of $92,928.00. Following the sale, the senior vice president now directly owns 36,043 shares of the company’s stock, valued at approximately $761,228.16. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.



SKT stock opened at $22.43 on Friday. Tanger Factory Outlet Centers Inc. has a twelve month low of $19.86 and a twelve month high of $27.88. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $2.11 billion, a PE ratio of 9.12, a P/E/G ratio of 1.78 and a beta of 0.52.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.34). Tanger Factory Outlet Centers had a return on equity of 10.97% and a net margin of 13.85%. The company had revenue of $123.50 million for the quarter, compared to analyst estimates of $120.93 million. During the same period in the previous year, the business posted $0.58 EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. analysts anticipate that Tanger Factory Outlet Centers Inc. will post 2.43 EPS for the current year.

A number of analysts have recently issued reports on the stock. KeyCorp lowered shares of Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 price objective on the stock. in a research note on Wednesday, May 2nd. ValuEngine lowered shares of Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, May 3rd. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has an average rating of “Sell” and a consensus price target of $23.70.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 500 different brand name companies.

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Institutional Ownership by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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