Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Shares Sold by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan trimmed its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 22.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,720 shares of the real estate investment trust’s stock after selling 8,510 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Tanger Factory Outlet Centers were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp increased its holdings in Tanger Factory Outlet Centers by 11.2% in the second quarter. State Street Corp now owns 11,298,397 shares of the real estate investment trust’s stock worth $293,533,000 after purchasing an additional 1,140,291 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Tanger Factory Outlet Centers by 29.5% in the third quarter. Principal Financial Group Inc. now owns 5,110,454 shares of the real estate investment trust’s stock worth $124,797,000 after purchasing an additional 1,163,429 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Tanger Factory Outlet Centers by 22.1% in the second quarter. Bank of New York Mellon Corp now owns 2,441,323 shares of the real estate investment trust’s stock worth $63,426,000 after purchasing an additional 441,736 shares in the last quarter. First Manhattan Co. increased its holdings in Tanger Factory Outlet Centers by 32.1% in the third quarter. First Manhattan Co. now owns 1,408,982 shares of the real estate investment trust’s stock worth $34,407,000 after purchasing an additional 342,144 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Tanger Factory Outlet Centers by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,376,676 shares of the real estate investment trust’s stock worth $35,768,000 after purchasing an additional 36,147 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Shares of Tanger Factory Outlet Centers, Inc. (NYSE SKT) opened at $26.22 on Friday. The stock has a market capitalization of $2,443.55, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 3.42 and a beta of 0.52. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10. Tanger Factory Outlet Centers, Inc. has a one year low of $21.81 and a one year high of $37.34.

In other Tanger Factory Outlet Centers news, CMO Carrie A. Geldner sold 2,250 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the sale, the chief marketing officer now directly owns 51,261 shares in the company, valued at $1,255,894.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.80% of the company’s stock.

SKT has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Jefferies Group restated a “hold” rating and set a $26.00 price objective on shares of Tanger Factory Outlet Centers in a report on Thursday, September 21st. Citigroup cut their target price on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating on the stock in a research report on Friday, November 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Tanger Factory Outlet Centers presently has an average rating of “Hold” and a consensus target price of $27.00.

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Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

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

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