OLD National Bancorp IN Purchases 2,840 Shares of Tanger Factory Outlet Centers Inc. (SKT)

OLD National Bancorp IN raised its position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,523 shares of the real estate investment trust’s stock after purchasing an additional 2,840 shares during the quarter. OLD National Bancorp IN’s holdings in Tanger Factory Outlet Centers were worth $571,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Stephens Inc. AR bought a new stake in shares of Tanger Factory Outlet Centers during the 3rd quarter valued at about $309,000. Macquarie Group Ltd. grew its stake in shares of Tanger Factory Outlet Centers by 16.7% during the 3rd quarter. Macquarie Group Ltd. now owns 43,150 shares of the real estate investment trust’s stock valued at $1,053,000 after purchasing an additional 6,167 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Tanger Factory Outlet Centers by 6.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 161,182 shares of the real estate investment trust’s stock valued at $4,188,000 after purchasing an additional 10,406 shares during the period. First Manhattan Co. grew its stake in shares of Tanger Factory Outlet Centers by 32.1% during the 3rd quarter. First Manhattan Co. now owns 1,408,982 shares of the real estate investment trust’s stock valued at $34,407,000 after purchasing an additional 342,144 shares during the period. Finally, Westpac Banking Corp grew its stake in shares of Tanger Factory Outlet Centers by 52.6% during the 3rd quarter. Westpac Banking Corp now owns 98,686 shares of the real estate investment trust’s stock valued at $2,410,000 after purchasing an additional 34,012 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

In other news, CMO Carrie A. Geldner sold 2,250 shares of Tanger Factory Outlet Centers stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total transaction of $55,125.00. Following the transaction, the chief marketing officer now directly owns 51,261 shares of the company’s stock, valued at approximately $1,255,894.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is owned by insiders.

Tanger Factory Outlet Centers Inc. (NYSE:SKT) opened at $21.81 on Thursday. Tanger Factory Outlet Centers Inc. has a 12-month low of $21.14 and a 12-month high of $34.76. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market capitalization of $2,060.00, a PE ratio of 35.18, a PEG ratio of 2.98 and a beta of 0.44.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.05. Tanger Factory Outlet Centers had a return on equity of 8.98% and a net margin of 12.34%. The firm had revenue of $126.49 million for the quarter, compared to analysts’ expectations of $122.67 million. sell-side analysts predict that Tanger Factory Outlet Centers Inc. will post 2.43 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.343 per share. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date of this dividend is Tuesday, January 30th. Tanger Factory Outlet Centers’s payout ratio is presently 220.97%.

A number of research firms have issued reports on SKT. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Bank of America upgraded Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research note on Thursday, November 9th. Citigroup cut their price target on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research note on Friday, November 10th. ValuEngine downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Boenning Scattergood upgraded Tanger Factory Outlet Centers from an “under perform” rating to a “neutral” rating in a research note on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.60.

COPYRIGHT VIOLATION NOTICE: “OLD National Bancorp IN Purchases 2,840 Shares of Tanger Factory Outlet Centers Inc. (SKT)” was originally published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this news story on another site, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2018/02/15/old-national-bancorp-in-purchases-2840-shares-of-tanger-factory-outlet-centers-inc-skt.html.

About Tanger Factory Outlet Centers

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.

Want to see what other hedge funds are holding SKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tanger Factory Outlet Centers Inc. (NYSE:SKT).

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

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

Latest News

Leave a Reply