American International Group Inc. Has $4.16 Million Stake in Tanger Factory Outlet Centers Inc. (SKT

American International Group Inc. lowered its stake in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,090 shares of the real estate investment trust’s stock after selling 6,489 shares during the period. American International Group Inc. owned approximately 0.20% of Tanger Factory Outlet Centers worth $4,160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tanger Factory Outlet Centers by 34.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 2,107 shares during the period. FDx Advisors Inc. grew its stake in shares of Tanger Factory Outlet Centers by 10.5% in the fourth quarter. FDx Advisors Inc. now owns 23,221 shares of the real estate investment trust’s stock worth $616,000 after purchasing an additional 2,215 shares during the last quarter. ING Groep NV grew its stake in shares of Tanger Factory Outlet Centers by 22.6% in the fourth quarter. ING Groep NV now owns 14,263 shares of the real estate investment trust’s stock worth $378,000 after purchasing an additional 2,633 shares during the last quarter. OLD National Bancorp IN grew its stake in shares of Tanger Factory Outlet Centers by 15.2% in the fourth quarter. OLD National Bancorp IN now owns 21,523 shares of the real estate investment trust’s stock worth $571,000 after purchasing an additional 2,840 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Tanger Factory Outlet Centers by 69.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,963 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 2,863 shares during the last quarter.

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Tanger Factory Outlet Centers opened at $21.05 on Monday, according to MarketBeat Ratings. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 2.99. The stock has a market capitalization of $1.99 billion, a P/E ratio of 8.56, a price-to-earnings-growth ratio of 1.67 and a beta of 0.51. Tanger Factory Outlet Centers Inc. has a 1 year low of $19.86 and a 1 year high of $27.88.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.34). The firm had revenue of $123.50 million for the quarter, compared to the consensus estimate of $120.93 million. Tanger Factory Outlet Centers had a net margin of 13.85% and a return on equity of 10.97%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. analysts anticipate that Tanger Factory Outlet Centers Inc. will post 2.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.65%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, April 27th. Tanger Factory Outlet Centers’s payout ratio is presently 56.91%.

Several analysts recently issued reports on SKT shares. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Boenning Scattergood reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, May 3rd. ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Evercore ISI cut Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a research note on Thursday, February 15th. Finally, KeyCorp cut Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 target price on the stock. in a research note on Wednesday, May 2nd. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Sell” and a consensus price target of $23.70.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Warren sold 2,357 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $20.80, for a total transaction of $49,025.60. Following the sale, the senior vice president now directly owns 55,501 shares of the company’s stock, valued at approximately $1,154,420.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 500 different brand name companies.

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

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