Todays Report: The Capital Fund Management S.A. Invests $607,000 in Tanger Factory Outlet Centers Inc. (SKT)

The Capital Fund Management S.A. Invests $607,000 in Tanger Factory Outlet Centers Inc. (SKT)

Capital Fund Management S.A. bought a new stake in Tanger Factory Outlet Centers Inc. (NYSE:SKT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 15,100 shares of the real estate investment trust’s stock, valued at approximately $607,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington Asset Advisors Inc. purchased a new position in shares of Tanger Factory Outlet Centers during the first quarter valued at approximately $167,000. Pecaut & CO. purchased a new position in shares of Tanger Factory Outlet Centers during the second quarter valued at approximately $201,000. LS Investment Advisors LLC boosted its position in shares of Tanger Factory Outlet Centers by 72.3% in the second quarter. LS Investment Advisors LLC now owns 5,682 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 2,385 shares during the period. Acrospire Investment Management LLC purchased a new position in shares of Tanger Factory Outlet Centers during the first quarter valued at approximately $217,000. Finally, Prudential PLC purchased a new position in shares of Tanger Factory Outlet Centers during the first quarter valued at approximately $240,000. 97.10% of the stock is owned by hedge funds and other institutional investors.

Tanger Factory Outlet Centers Inc. (NYSE:SKT) traded up 1.10% on Wednesday, hitting $36.90. The company had a trading volume of 486,289 shares. The firm has a market capitalization of $3.51 billion, a PE ratio of 14.09 and a beta of 0.44. Tanger Factory Outlet Centers Inc. has a 12-month low of $29.46 and a 12-month high of $42.20. The firm has a 50-day moving average price of $39.18 and a 200-day moving average price of $38.26.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. Tanger Factory Outlet Centers had a return on equity of 41.28% and a net margin of 55.84%. The firm had revenue of $111.30 million for the quarter, compared to analyst estimates of $107.85 million. During the same period in the prior year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Tanger Factory Outlet Centers Inc. will post $2.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Thursday, October 27th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 49.43%.

Several brokerages recently commented on SKT. Hilliard Lyons cut Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 6th. Royal Bank Of Canada lifted their price objective on Tanger Factory Outlet Centers from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, August 1st. Citigroup Inc. lifted their price objective on Tanger Factory Outlet Centers from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, August 8th. RBC Capital Markets reissued an “outperform” rating and set a $48.00 price objective (up from $44.00) on shares of Tanger Factory Outlet Centers in a report on Monday, August 1st. Finally, Zacks Investment Research raised Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Tanger Factory Outlet Centers presently has a consensus rating of “Hold” and a consensus target price of $40.67.

In other news, SVP Carrie A. Geldner sold 1,500 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $40.47, for a total transaction of $60,705.00. Following the sale, the senior vice president now directly owns 50,189 shares of the company’s stock, valued at approximately $2,031,148.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company 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.

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