Short Interest Worth Watching: Tanger Factory Outlet Centers (NYSE:SKT) Short Interest Increased By 1.8%

November 16, 2016 - By Hazel Jackson   ·   0 Comments

Short Interest Worth Watching: Tanger Factory Outlet Centers (NYSE:SKT) Short Interest Increased By 1.8%

The stock of Tanger Factory Outlet Centers (NYSE:SKT) registered an increase of 1.8% in short interest. SKT’s total short interest was 4.10 million shares in November as published by FINRA. Its up 1.8% from 4.02M shares, reported previously. With 480,000 shares average volume, it will take short sellers 9 days to cover their SKT’s short positions. The short interest to Tanger Factory Outlet Centers’s float is 4.39%. The stock decreased 0.57% or $0.2 during the last trading session, hitting $34.67. Tanger Factory Outlet Centers Inc. (NYSE:SKT) has declined 5.71% since April 14, 2016 and is downtrending. It has underperformed by 10.40% the S&P500.

Tanger Factory Outlet Centers, Inc. is a self-administered and self-managed real estate investment trust . The company has a market cap of $3.37 billion. The Firm focuses on developing, acquiring, owning, operating and managing outlet shopping centers in the United States and Canada. It has a 12 P/E ratio. The Company’s consolidated portfolio consists of approximately 34 outlet centers, with a total gross leasable area of approximately 11.7 million square feet.

Insitutional Activity: The institutional sentiment decreased to 1.16 in Q2 2016. Its down 0.09, from 1.25 in 2016Q1. The ratio is negative, as 25 funds sold all Tanger Factory Outlet Centers Inc. shares owned while 88 reduced positions. 31 funds bought stakes while 100 increased positions. They now own 90.59 million shares or 4.33% more from 86.83 million shares in 2016Q1.
Envestnet Asset Management Inc reported 14,019 shares or 0% of all its holdings. Ubs Asset Mngmt Americas Incorporated last reported 168,385 shares in the company. Independent Order Of Foresters, a Ontario – Canada-based fund reported 84,789 shares. Comerica Bancshares last reported 0.05% of its portfolio in the stock. Blackrock Advisors accumulated 0.02% or 557,242 shares. M&R Cap Management reported 2,000 shares or 0.02% of all its holdings. Cornerstone Advsr accumulated 206 shares or 0.01% of the stock. Robeco Institutional Asset Mgmt Bv has 125,000 shares for 0.04% of their US portfolio. First Citizens National Bank has 0.04% invested in the company for 11,676 shares. Lpl Financial Ltd Llc accumulated 0% or 10,787 shares. New York State Common Retirement Fund last reported 0.02% of its portfolio in the stock. Prudential Pcl last reported 6,600 shares in the company. Moreover, Massachusetts Financial Services Co Ma has 0.06% invested in Tanger Factory Outlet Centers Inc. (NYSE:SKT) for 3.20 million shares. Barclays Public Limited Co owns 113,295 shares or 0.01% of their US portfolio. Pioneer Inv Management has 0.01% invested in the company for 83,300 shares.

Insider Transactions: Since August 4, 2016, the stock had 0 buys, and 4 insider sales for $343,549 net activity. 4,500 Tanger Factory Outlet Centers Inc. (NYSE:SKT) shares with value of $152,510 were sold by MORRISON LISA J. GELDNER CARRIE A also sold $69,460 worth of Tanger Factory Outlet Centers Inc. (NYSE:SKT) shares. On Thursday, August 4 BENTON WILLIAM G sold $60,872 worth of the stock or 1,500 shares.

Tanger Factory Outlet Centers Inc. (NYSE:SKT) Ratings Coverage

Out of 8 analysts covering Tanger Factory Outlet Centers (NYSE:SKT), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. Tanger Factory Outlet Centers has been the topic of 19 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “” rating on Friday, August 7 by KeyBanc Capital Markets. The stock has “Hold” rating given by Zacks on Wednesday, August 26. The stock of Tanger Factory Outlet Centers Inc. (NYSE:SKT) has “Buy” rating given on Tuesday, August 18 by Zacks. The stock of Tanger Factory Outlet Centers Inc. (NYSE:SKT) earned “Neutral” rating by Hilliard Lyons on Tuesday, August 25. The firm earned “Buy” rating on Tuesday, December 8 by Goldman Sachs. On Thursday, October 29 the stock rating was downgraded by Hilliard Lyons to “Neutral”. The firm has “Neutral” rating given on Wednesday, October 26 by Goldman Sachs. The stock has “Hold” rating given by Zacks on Thursday, August 6. The stock has “Neutral” rating given by Citigroup on Monday, April 4. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, October 7.

SKT Company Profile

Tanger Factory Outlet Centers, Inc., incorporated on March 3, 1993, is a self-administered and self-managed real estate investment trust (REIT). The Firm focuses on developing, acquiring, owning, operating and managing outlet shopping centers in the United States and Canada. The Company’s consolidated portfolio consists of approximately 34 outlet centers, with a total gross leasable area of approximately 11.7 million square feet. These outlet centers were occupied and contained over 2,400 stores, representing approximately 400 store brands. The Firm also has partial ownership interests in approximately nine outlet centers totaling approximately 2.7 million square feet, including four outlet centers in Canada.

More recent Tanger Factory Outlet Centers Inc. (NYSE:SKT) news were published by: Forbes.com which released: “Tanger Factory Outlet Centers Enters Oversold Territory” on October 05, 2016. Also Forbes.com published the news titled: “Ex-Dividend Reminder: Unum Group, Tanger Factory Outlet Centers and Education …” on October 25, 2016. Prnewswire.com‘s news article titled: “Tanger Factory Outlet Centers, Inc. 2015 Tax Reporting Information …” with publication date: January 20, 2016 was also an interesting one.

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By Hazel Jackson


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