LSV Asset Management Decreases Holdings in Tanger Factory Outlet Centers, Inc. (SKT)

LSV Asset Management reduced its position in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 72.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 148,199 shares of the real estate investment trust’s stock after selling 388,501 shares during the quarter. LSV Asset Management owned about 0.16% of Tanger Factory Outlet Centers worth $3,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Glen Harbor Capital Management LLC boosted its stake in Tanger Factory Outlet Centers by 3.9% during the 1st quarter. Glen Harbor Capital Management LLC now owns 3,476 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 132 shares in the last quarter. Elkfork Partners LLC boosted its stake in shares of Tanger Factory Outlet Centers by 3.9% during the 1st quarter. Elkfork Partners LLC now owns 4,424 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 168 shares in the last quarter. Utah Retirement Systems boosted its stake in shares of Tanger Factory Outlet Centers by 1.0% during the 1st quarter. Utah Retirement Systems now owns 21,185 shares of the real estate investment trust’s stock worth $694,000 after acquiring an additional 200 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of Tanger Factory Outlet Centers by 3.9% during the 1st quarter. Meadow Creek Investment Management LLC now owns 5,372 shares of the real estate investment trust’s stock worth $176,000 after acquiring an additional 204 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Tanger Factory Outlet Centers by 3.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,105 shares of the real estate investment trust’s stock worth $331,000 after acquiring an additional 344 shares in the last quarter. 96.82% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on the company. BidaskClub raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Saturday, July 15th. Bank of America Corporation lowered Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $28.00 to $25.50 in a research note on Friday, June 23rd. ValuEngine lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Boenning Scattergood set a $25.00 price objective on Tanger Factory Outlet Centers and gave the stock a “sell” rating in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Tanger Factory Outlet Centers presently has an average rating of “Hold” and an average price target of $32.43.

ILLEGAL ACTIVITY WARNING: This story was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.chaffeybreeze.com/2017/09/19/lsv-asset-management-decreases-holdings-in-tanger-factory-outlet-centers-inc-skt.html.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Geldner sold 1,800 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $24.18, for a total transaction of $43,524.00. Following the completion of the sale, the senior vice president now owns 53,511 shares in the company, valued at approximately $1,293,895.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas E. Mcdonough sold 10,734 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $26.74, for a total transaction of $287,027.16. Following the sale, the chief operating officer now owns 180,551 shares of the company’s stock, valued at approximately $4,827,933.74. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) opened at 24.71 on Tuesday. The firm has a market cap of $2.35 billion, a PE ratio of 16.41 and a beta of 0.47. Tanger Factory Outlet Centers, Inc. has a 12 month low of $23.06 and a 12 month high of $40.05. The stock has a 50 day moving average price of $24.77 and a 200 day moving average price of $27.84.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. The company had revenue of $119.60 million during the quarter, compared to analysts’ expectations of $122.00 million. Tanger Factory Outlet Centers had a net margin of 29.65% and a return on equity of 20.75%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. On average, equities research analysts expect that Tanger Factory Outlet Centers, Inc. will post $0.78 EPS for the current year.

Tanger Factory Outlet Centers Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

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

Receive News & Ratings for Tanger Factory Outlet Centers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply