November 30, 2016 - By Peter Erickson · 0 Comments
Tanger Factory Outlet Centers Inc (NYSE:SKT) institutional sentiment decreased to 1.09 in Q2 2016. Its down -0.07, from 1.16 in 2016Q1. The ratio has worsened, as 131 institutional investors increased or started new holdings, while 113 sold and decreased stock positions in Tanger Factory Outlet Centers Inc. The institutional investors in our partner’s database reported: 90.59 million shares, up from 86.83 million shares in 2016Q1. Also, the number of institutional investors holding Tanger Factory Outlet Centers Inc in their top 10 holdings increased from 1 to 2 for an increase of 1. Sold All: 25 Reduced: 88 Increased: 100 New Position: 31.
Tanger Factory Outlet Centers, Inc. is a self-administered and self-managed real estate investment trust . The company has a market cap of $3.36 billion. The Firm focuses on developing, acquiring, owning, operating and managing outlet shopping centers in the United States and Canada. It has a 11.99 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.
About 167,893 shares traded hands. Tanger Factory Outlet Centers Inc. (NYSE:SKT) has declined 2.31% since April 27, 2016 and is downtrending. It has underperformed by 7.54% the S&P500.
Analysts await Tanger Factory Outlet Centers Inc. (NYSE:SKT) to report earnings on February, 14. They expect $0.61 EPS, up 5.17% or $0.03 from last year’s $0.58 per share. SKT’s profit will be $59.20M for 14.19 P/E if the $0.61 EPS becomes a reality. After $0.62 actual EPS reported by Tanger Factory Outlet Centers Inc. for the previous quarter, Wall Street now forecasts -1.61% negative EPS growth.
According to Zacks Investment Research, “Tanger Factory Outlet Centers, Inc. is a fully-integrated, self-administered and self-managed real estate investment trust which focuses exclusively on developing, acquiring, owning and operating factory outlet centers. Since entering the factory outlet center business, they have become one of the largest owners and operators of factory outlet centers in the United States.”
Independent Order Of Foresters holds 2.52% of its portfolio in Tanger Factory Outlet Centers Inc. for 84,789 shares. Crawford Investment Counsel Inc owns 1.52 million shares or 2.43% of their US portfolio. Moreover, Crestwood Advisors Llc has 1.72% invested in the company for 346,978 shares. The Pennsylvania-based Copeland Capital Management Llc has invested 1.65% in the stock. Cornerstone Real Estate Advisers Llc, a Connecticut-based fund reported 123,010 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 4 insider sales for $343,549 net activity.
Ratings analysis reveals 25% of Tanger Factory Outlet Centers’s analysts are positive. Out of 8 Wall Street analysts rating Tanger Factory Outlet Centers, 2 give it “Buy”, 0 “Sell” rating, while 6 recommend “Hold”. The lowest target is $34 while the high is $42. The stock’s average target of $36.83 is 6.38% above today’s ($34.62) share price. SKT was included in 19 notes of analysts from July 21, 2015. The stock of Tanger Factory Outlet Centers Inc. (NYSE:SKT) earned “Sell” rating by M Partners on Tuesday, August 11. The stock of Tanger Factory Outlet Centers Inc. (NYSE:SKT) earned “Neutral” rating by Citigroup on Monday, April 4. As per Friday, August 7, the company rating was upgraded by KeyBanc Capital Markets. Goldman Sachs upgraded the shares of SKT in a report on Tuesday, December 8 to “Buy” rating. The stock has “Neutral” rating given by Hilliard Lyons on Wednesday, July 6. RBC Capital Markets maintained it with “Outperform” rating and $42 target price in Wednesday, October 7 report. The stock has “Neutral” rating given by UBS on Friday, August 26. Goldman Sachs downgraded Tanger Factory Outlet Centers Inc. (NYSE:SKT) on Wednesday, October 26 to “Neutral” rating. The company was upgraded on Wednesday, August 26 by Zacks. The rating was downgraded by Hilliard Lyons on Thursday, October 29 to “Neutral”.
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 notable recent Tanger Factory Outlet Centers Inc. (NYSE:SKT) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Unum Group, Tanger Factory Outlet Centers and Education …” on October 25, 2016, also News-Journalonline.com with their article: “TANGER TIME: Outlet mall nears completion; job fair Wednesday” published on September 25, 2016, Prnewswire.com published: “Tanger Acquires 100% Ownership of Tanger Outlets Located in the Greater …” on August 15, 2016. More interesting news about Tanger Factory Outlet Centers Inc. (NYSE:SKT) were released by: Prnewswire.com and their article: “Tanger Factory Outlet Centers, Inc. 2015 Tax Reporting Information …” published on January 20, 2016 as well as News-Journalonline.com‘s news article titled: “5 things to know about Daytona’s Tanger Outlets mall” with publication date: November 17, 2016.
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By Peter Erickson