Tanger Factory Outlet Centers, Inc. (SKT) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lifted its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 18.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,871 shares of the real estate investment trust’s stock after purchasing an additional 1,358 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Tanger Factory Outlet Centers were worth $230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. RMR Advisors LLC acquired a new stake in shares of Tanger Factory Outlet Centers in the 2nd quarter valued at about $114,000. Elkfork Partners LLC boosted its position in shares of Tanger Factory Outlet Centers by 3.9% in the 1st quarter. Elkfork Partners LLC now owns 4,424 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 168 shares during the period. Meadow Creek Investment Management LLC boosted its position in shares of Tanger Factory Outlet Centers by 3.9% in the 1st quarter. Meadow Creek Investment Management LLC now owns 5,372 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 204 shares during the period. World Asset Management Inc boosted its position in shares of Tanger Factory Outlet Centers by 13.7% in the 1st quarter. World Asset Management Inc now owns 6,624 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 798 shares during the period. Finally, LS Investment Advisors LLC boosted its position in shares of Tanger Factory Outlet Centers by 19.9% in the 2nd quarter. LS Investment Advisors LLC now owns 7,629 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 1,266 shares during the period. 96.82% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Thomas E. Mcdonough sold 10,734 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $26.74, for a total transaction of $287,027.16. Following the completion of the transaction, the chief operating officer now directly owns 180,551 shares of the company’s stock, valued at $4,827,933.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carrie A. Geldner sold 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total value of $43,524.00. Following the transaction, the senior vice president now owns 53,511 shares of the company’s stock, valued at $1,293,895.98. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by corporate insiders.

Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) opened at 24.36 on Wednesday. Tanger Factory Outlet Centers, Inc. has a 52-week low of $23.06 and a 52-week high of $40.05. The firm’s 50-day moving average price is $24.71 and its 200-day moving average price is $27.78. The firm has a market capitalization of $2.31 billion, a PE ratio of 16.18 and a beta of 0.47.

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

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A number of analysts have weighed in on SKT shares. BidaskClub cut Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Jefferies Group LLC cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $38.00 to $29.00 in a research report on Friday, June 16th. Boenning Scattergood set a $25.00 price objective on Tanger Factory Outlet Centers and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Bank of America Corporation cut Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $28.00 to $25.50 in a research report on Friday, June 23rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $32.43.

Tanger Factory Outlet Centers Company 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.

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

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