Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 345,562 shares of the real estate investment trust’s stock after selling 4,962 shares during the period. Rhumbline Advisers’ holdings in Tanger Factory Outlet Centers were worth $4,914,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SKT. Waterfront Capital Partners LLC acquired a new stake in shares of Tanger Factory Outlet Centers during the first quarter valued at about $20,913,000. Granite Investment Partners LLC acquired a new position in Tanger Factory Outlet Centers in the second quarter worth about $12,621,000. State Street Corp grew its stake in Tanger Factory Outlet Centers by 12.6% in the first quarter. State Street Corp now owns 6,252,459 shares of the real estate investment trust’s stock worth $107,480,000 after purchasing an additional 700,755 shares in the last quarter. Renaissance Technologies LLC grew its stake in Tanger Factory Outlet Centers by 63.8% in the first quarter. Renaissance Technologies LLC now owns 806,242 shares of the real estate investment trust’s stock worth $13,859,000 after purchasing an additional 313,979 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in Tanger Factory Outlet Centers in the second quarter worth about $2,005,000. 75.40% of the stock is currently owned by institutional investors and hedge funds.

Tanger Factory Outlet Centers Stock Performance

Shares of NYSE SKT opened at $19.59 on Monday. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 2.71. The firm’s 50-day moving average price is $17.38 and its two-hundred day moving average price is $16.29. Tanger Factory Outlet Centers, Inc. has a 52-week low of $13.26 and a 52-week high of $21.21. The stock has a market capitalization of $2.04 billion, a P/E ratio of 27.21, a P/E/G ratio of 1.22 and a beta of 1.82.

Tanger Factory Outlet Centers Increases Dividend

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The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st were issued a $0.22 dividend. The ex-dividend date was Friday, October 28th. This represents a $0.88 dividend on an annualized basis and a yield of 4.49%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.20. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 122.22%.

Insiders Place Their Bets

In other Tanger Factory Outlet Centers news, insider Steven B. Tanger sold 50,000 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $19.00, for a total value of $950,000.00. Following the transaction, the insider now owns 1,399,686 shares of the company’s stock, valued at $26,594,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Evercore ISI decreased their price target on Tanger Factory Outlet Centers from $17.00 to $15.00 in a research note on Tuesday, September 27th. StockNews.com assumed coverage on Tanger Factory Outlet Centers in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Tanger Factory Outlet Centers Company Profile

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Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger’s operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.