StockNews.com Begins Coverage on Tanger Factory Outlet Centers (NYSE:SKT)

StockNews.com assumed coverage on shares of Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the company. Citigroup lifted their price target on Tanger Factory Outlet Centers from $15.00 to $20.00 in a research report on Wednesday, December 14th. Compass Point cut Tanger Factory Outlet Centers from a buy rating to a neutral rating and set a $21.00 price target for the company. in a research report on Monday, January 30th.

Tanger Factory Outlet Centers Stock Performance

Shares of SKT opened at $18.07 on Thursday. The firm has a market cap of $1.89 billion, a PE ratio of 23.47, a PEG ratio of 6.71 and a beta of 1.81. The stock’s fifty day moving average price is $18.55 and its two-hundred day moving average price is $17.68. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.53 and a quick ratio of 2.53. Tanger Factory Outlet Centers has a 1 year low of $13.26 and a 1 year high of $20.27.

Tanger Factory Outlet Centers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Monday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 114.29%.

Hedge Funds Weigh In On Tanger Factory Outlet Centers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. grew its position in Tanger Factory Outlet Centers by 5.3% during the third quarter. 1620 Investment Advisors Inc. now owns 10,783 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 547 shares in the last quarter. M&T Bank Corp grew its position in Tanger Factory Outlet Centers by 6.0% during the third quarter. M&T Bank Corp now owns 10,623 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 602 shares in the last quarter. Advisors Asset Management Inc. grew its position in Tanger Factory Outlet Centers by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 134,718 shares of the real estate investment trust’s stock worth $1,843,000 after buying an additional 616 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Tanger Factory Outlet Centers by 44.4% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,552 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 785 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Tanger Factory Outlet Centers by 3.1% during the first quarter. Bank of Montreal Can now owns 31,712 shares of the real estate investment trust’s stock worth $573,000 after buying an additional 968 shares in the last quarter. 74.61% of the stock is currently owned by hedge funds and other institutional investors.

About Tanger Factory Outlet Centers

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Tanger Factory Outlet Centers, Inc engages in the operation of upscale open-air outlet centers. The firm focuses on developing, acquiring, owning, operating, and managing outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.