Tanger Factory Outlet Centers Inc. (SKT) CAO Sells $18,710.00 in Stock

Tanger Factory Outlet Centers Inc. (NYSE:SKT) CAO Thomas Joseph Guerrieri, Jr. sold 1,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $18.71, for a total transaction of $18,710.00. Following the completion of the transaction, the chief accounting officer now owns 30,778 shares of the company’s stock, valued at $575,856.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of SKT traded down $0.23 during trading hours on Friday, hitting $18.47. The stock had a trading volume of 895,716 shares, compared to its average volume of 1,790,224. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.02 and a quick ratio of 0.02. The stock has a market cap of $1.76 billion, a P/E ratio of 7.45, a P/E/G ratio of -3.35 and a beta of 0.71. Tanger Factory Outlet Centers Inc. has a fifty-two week low of $17.75 and a fifty-two week high of $24.91.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.42). The company had revenue of $124.03 million for the quarter, compared to analyst estimates of $121.44 million. Tanger Factory Outlet Centers had a return on equity of 15.71% and a net margin of 16.76%. Equities analysts expect that Tanger Factory Outlet Centers Inc. will post 2.23 EPS for the current year.

Several research firms recently issued reports on SKT. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. Citigroup set a $23.00 target price on shares of Tanger Factory Outlet Centers and gave the company a “hold” rating in a research note on Tuesday, February 26th. Boenning Scattergood began coverage on shares of Tanger Factory Outlet Centers in a research note on Monday, March 25th. They issued an “outperform” rating and a $27.00 target price for the company. Finally, ValuEngine cut shares of Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Five investment 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. Tanger Factory Outlet Centers has a consensus rating of “Sell” and a consensus price target of $22.00.

A number of large investors have recently bought and sold shares of the business. M Holdings Securities Inc. acquired a new position in Tanger Factory Outlet Centers during the first quarter worth $253,000. HighTower Advisors LLC acquired a new position in Tanger Factory Outlet Centers during the first quarter worth $208,000. Man Group plc raised its position in Tanger Factory Outlet Centers by 396.5% during the first quarter. Man Group plc now owns 411,100 shares of the real estate investment trust’s stock worth $8,625,000 after acquiring an additional 328,300 shares during the period. Goldman Sachs Group Inc. raised its position in Tanger Factory Outlet Centers by 21.4% during the first quarter. Goldman Sachs Group Inc. now owns 575,731 shares of the real estate investment trust’s stock worth $12,079,000 after acquiring an additional 101,550 shares during the period. Finally, Oxford Asset Management LLP acquired a new position in Tanger Factory Outlet Centers during the first quarter worth $359,000. Institutional investors own 97.52% of the company’s stock.

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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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