9,771 Shares in Tanger Factory Outlet Centers Inc. (NYSE:SKT) Purchased by Cetera Advisors LLC

Cetera Advisors LLC purchased a new stake in Tanger Factory Outlet Centers Inc. (NYSE:SKT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,771 shares of the real estate investment trust’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SKT. Smith Salley & Associates raised its holdings in Tanger Factory Outlet Centers by 11.4% in the first quarter. Smith Salley & Associates now owns 135,664 shares of the real estate investment trust’s stock worth $2,846,000 after purchasing an additional 13,895 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Tanger Factory Outlet Centers by 7.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 93,066 shares of the real estate investment trust’s stock worth $1,953,000 after acquiring an additional 6,058 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Tanger Factory Outlet Centers in the first quarter worth $203,000. Texas Permanent School Fund grew its stake in shares of Tanger Factory Outlet Centers by 3.8% in the first quarter. Texas Permanent School Fund now owns 63,785 shares of the real estate investment trust’s stock worth $1,338,000 after acquiring an additional 2,333 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new stake in shares of Tanger Factory Outlet Centers in the first quarter worth $134,000. 99.19% of the stock is currently owned by hedge funds and other institutional investors.

In other Tanger Factory Outlet Centers news, VP Virginia R. Summerell sold 20,604 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $18.18, for a total transaction of $374,580.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Carrie A. Warren sold 6,878 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $18.06, for a total value of $124,216.68. Following the transaction, the senior vice president now owns 50,623 shares in the company, valued at approximately $914,251.38. The disclosure for this sale can be found here. Insiders have sold a total of 31,482 shares of company stock worth $573,427 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

SKT has been the topic of a number of recent research reports. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Citigroup set a $23.00 price objective on Tanger Factory Outlet Centers and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Boenning Scattergood began coverage on Tanger Factory Outlet Centers in a research note on Monday, March 25th. They issued an “outperform” rating and a $27.00 price objective on the stock. ValuEngine downgraded Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Finally, Goldman Sachs Group cut Tanger Factory Outlet Centers from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $19.80 to $15.00 in a report on Thursday, May 9th. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Sell” and a consensus target price of $22.00.

NYSE SKT traded down $0.31 on Friday, reaching $16.21. 1,128,744 shares of the stock traded hands, compared to its average volume of 1,457,801. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 3.33. The firm has a market cap of $1.52 billion, a PE ratio of 6.54, a price-to-earnings-growth ratio of -2.90 and a beta of 0.71. Tanger Factory Outlet Centers Inc. has a 12 month low of $16.12 and a 12 month high of $24.91.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.09. Tanger Factory Outlet Centers had a return on equity of 15.71% and a net margin of 16.76%. The business had revenue of $123.16 million during the quarter, compared to analyst estimates of $122.16 million. During the same period in the previous year, the company posted $0.60 EPS. Tanger Factory Outlet Centers’s revenue was down .3% on a year-over-year basis. On average, research analysts expect that Tanger Factory Outlet Centers Inc. will post 2.23 earnings per share for the current year.

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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 40 upscale outlet shopping centers. Tanger's operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 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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