Tanger Factory Outlet Centers Inc. (SKT) Stake Lowered by Brinker Capital Inc.

Brinker Capital Inc. trimmed its holdings in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 19.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,730 shares of the real estate investment trust’s stock after selling 2,555 shares during the quarter. Brinker Capital Inc.’s holdings in Tanger Factory Outlet Centers were worth $217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mackay Shields LLC purchased a new position in shares of Tanger Factory Outlet Centers in the fourth quarter valued at $351,000. Menta Capital LLC grew its holdings in shares of Tanger Factory Outlet Centers by 448.5% in the fourth quarter. Menta Capital LLC now owns 78,988 shares of the real estate investment trust’s stock valued at $1,597,000 after purchasing an additional 64,588 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tanger Factory Outlet Centers by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 1,284,322 shares of the real estate investment trust’s stock valued at $25,968,000 after purchasing an additional 115,944 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Tanger Factory Outlet Centers by 3.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 60,700 shares of the real estate investment trust’s stock worth $1,227,000 after buying an additional 2,300 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Tanger Factory Outlet Centers by 14.2% in the fourth quarter. Great West Life Assurance Co. Can now owns 120,903 shares of the real estate investment trust’s stock worth $2,263,000 after buying an additional 15,062 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

SKT has been the subject of a number of analyst reports. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Saturday, December 22nd. Citigroup set a $21.00 price target on Tanger Factory Outlet Centers and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Finally, Boenning Scattergood initiated coverage on Tanger Factory Outlet Centers in a research report on Monday, March 25th. They issued an “outperform” rating and a $27.00 price target for the company. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Sell” and an average target price of $22.80.

Shares of Tanger Factory Outlet Centers stock traded up $0.03 during trading on Friday, hitting $19.01. 1,575,901 shares of the stock traded hands, compared to its average volume of 1,675,167. Tanger Factory Outlet Centers Inc. has a 52-week low of $18.85 and a 52-week high of $24.91. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 3.39. The firm has a market cap of $1.79 billion, a P/E ratio of 7.67, a P/E/G ratio of -3.37 and a beta of 0.77.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.42). Tanger Factory Outlet Centers had a net margin of 8.76% and a return on equity of 7.88%. The company had revenue of $124.03 million during the quarter, compared to analysts’ expectations of $121.44 million. Analysts forecast that Tanger Factory Outlet Centers Inc. will post 2.26 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.355 per share. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, April 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 7.47%. Tanger Factory Outlet Centers’s payout ratio is presently 56.45%.

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Tanger Factory Outlet Centers Company Profile

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 530 different brand name companies.

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

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