Bokf Na Sells 1,324 Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

Bokf Na decreased its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 33.0% during the second quarter, HoldingsChannel reports. The firm owned 2,683 shares of the real estate investment trust’s stock after selling 1,324 shares during the quarter. Bokf Na’s holdings in Tanger Factory Outlet Centers were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Advisor Group LLC increased its holdings in shares of Tanger Factory Outlet Centers by 50.8% during the 1st quarter. Private Advisor Group LLC now owns 19,060 shares of the real estate investment trust’s stock worth $328,000 after purchasing an additional 6,420 shares during the period. Bank of Montreal Can lifted its position in shares of Tanger Factory Outlet Centers by 3.1% in the 1st quarter. Bank of Montreal Can now owns 31,712 shares of the real estate investment trust’s stock worth $573,000 after acquiring an additional 968 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Tanger Factory Outlet Centers by 55.7% during the 1st quarter. MetLife Investment Management LLC now owns 54,483 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 19,491 shares in the last quarter. Rhumbline Advisers increased its position in shares of Tanger Factory Outlet Centers by 3.2% during the first quarter. Rhumbline Advisers now owns 350,524 shares of the real estate investment trust’s stock valued at $6,026,000 after purchasing an additional 10,789 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Tanger Factory Outlet Centers by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 89,645 shares of the real estate investment trust’s stock valued at $1,541,000 after purchasing an additional 11,053 shares in the last quarter. 84.94% of the stock is currently owned by institutional investors and hedge funds.

Tanger Factory Outlet Centers Price Performance

NYSE:SKT traded down $0.27 on Monday, hitting $25.31. The company had a trading volume of 363,740 shares, compared to its average volume of 881,731. Tanger Factory Outlet Centers, Inc. has a 52 week low of $17.22 and a 52 week high of $26.07. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 2.78. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 6.29 and a beta of 1.84. The firm has a 50 day moving average of $23.26 and a two-hundred day moving average of $22.50.

Tanger Factory Outlet Centers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were issued a dividend of $0.26 per share. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Monday, October 30th. Tanger Factory Outlet Centers’s payout ratio is 119.54%.

Analysts Set New Price Targets

SKT has been the subject of a number of recent analyst reports. StockNews.com began coverage on shares of Tanger Factory Outlet Centers in a research report on Thursday, October 5th. They set a “hold” rating for the company. Citigroup increased their price objective on shares of Tanger Factory Outlet Centers from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 24th. The Goldman Sachs Group lowered shares of Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and set a $26.00 target price for the company. in a report on Wednesday, August 16th. JPMorgan Chase & Co. upgraded Tanger Factory Outlet Centers from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $24.00 to $25.00 in a research report on Thursday, October 12th. Finally, Bank of America increased their target price on Tanger Factory Outlet Centers from $18.50 to $20.00 and gave the company an “underperform” rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.00.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT), a leading operator of upscale open-air outlet centers, fully or partially owns and/or manages a portfolio of 37 centers, including one center under development. Tanger's operating centers, which comprise approximately 14 million square feet, are located in 20 states and in Canada and are leased to over 2,700 stores operated by more than 600 different brand name companies.