The stock of Tanger Factory Outlet Centers Inc. (NYSE:SKT) is a huge mover today! The stock decreased 2.82% or $1.1 on October 3, hitting $37.88. Tanger Factory Outlet Centers Inc. (NYSE:SKT) has risen 15.31% since March 1, 2016 and is uptrending. It has outperformed by 3.10% the S&P500.
The move comes after 5 months negative chart setup for the $3.64 billion company. It was reported on Oct, 4 by Barchart.com. We have $35.23 PT which if reached, will make NYSE:SKT worth $254.80 million less.
Analysts await Tanger Factory Outlet Centers Inc. (NYSE:SKT) to report earnings on October, 25. They expect $0.60 EPS, up 1.69% or $0.01 from last year’s $0.59 per share. SKT’s profit will be $57.66M for 15.78 P/E if the $0.60 EPS becomes a reality. After $0.59 actual EPS reported by Tanger Factory Outlet Centers Inc. for the previous quarter, Wall Street now forecasts 1.69% EPS growth.
Tanger Factory Outlet Centers Inc. (NYSE:SKT) Ratings Coverage
Out of 8 analysts covering Tanger Factory Outlet Centers (NYSE:SKT), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. Tanger Factory Outlet Centers has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by M Partners with “Sell” on Tuesday, August 11. The rating was downgraded by Zacks to “Hold” on Thursday, August 6. As per Tuesday, September 8, the company rating was maintained by Evercore. The company was maintained on Wednesday, October 7 by RBC Capital Markets. The firm has “Buy” rating given on Tuesday, August 18 by Zacks. The stock has “Neutral” rating given by Hilliard Lyons on Tuesday, August 25. The company was upgraded on Tuesday, October 6 by Bank of America. The firm has “” rating given on Friday, August 7 by KeyBanc Capital Markets. The rating was downgraded by Hilliard Lyons on Wednesday, July 6 to “Neutral”. The firm has “Neutral” rating given on Friday, August 26 by UBS.
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.”
Insitutional Activity: The institutional sentiment decreased to 1.16 in Q2 2016. Its down 0.09, from 1.25 in 2016Q1. The ratio worsened, as 25 funds sold all Tanger Factory Outlet Centers Inc. shares owned while 88 reduced positions. 31 funds bought stakes while 100 increased positions. They now own 90.59 million shares or 4.33% more from 86.83 million shares in 2016Q1.
Amica Mutual Ins holds 6,878 shares or 0.03% of its portfolio. Blackrock Lc reported 557,242 shares or 0.02% of all its holdings. Ubs Asset Management Americas Inc owns 168,385 shares or 0.01% of their US portfolio. Profund Lc accumulated 18,514 shares or 0.04% of the stock. The New York-based Alliancebernstein L P has invested 0% in Tanger Factory Outlet Centers Inc. (NYSE:SKT). Moreover, First Manhattan Communication has 0.03% invested in Tanger Factory Outlet Centers Inc. (NYSE:SKT) for 135,912 shares. Diam Ltd has invested 0.14% of its portfolio in Tanger Factory Outlet Centers Inc. (NYSE:SKT). Fagan Assocs Incorporated last reported 26,294 shares in the company. Moreover, Nomura Asset Mgmt Communications Limited has 0.04% invested in Tanger Factory Outlet Centers Inc. (NYSE:SKT) for 59,330 shares. Employees Retirement Systems Of Texas, a Texas-based fund reported 160,390 shares. State Board Of Administration Of Florida Retirement holds 0.02% of its portfolio in Tanger Factory Outlet Centers Inc. (NYSE:SKT) for 172,832 shares. Carroll Fincl Assocs has invested 0% of its portfolio in Tanger Factory Outlet Centers Inc. (NYSE:SKT). Johnson Financial Gru Inc owns 975 shares or 0.01% of their US portfolio. Smith Salley And Assoc has 50,569 shares for 0.47% of their US portfolio. Globeflex Cap Limited Partnership accumulated 12,477 shares or 0.14% of the stock.
Insider Transactions: Since May 2, 2016, the stock had 0 buys, and 6 selling transactions for $3.57 million net activity. BENTON WILLIAM G sold $60,872 worth of stock. GELDNER CARRIE A sold $60,707 worth of Tanger Factory Outlet Centers Inc. (NYSE:SKT) on Thursday, August 18. The insider TANGER STEVEN B sold 85,000 shares worth $3.04 million. Shares for $202,521 were sold by MORRISON LISA J on Tuesday, May 3. On Friday, May 6 SUMMERELL VIRGINIA R sold $152,181 worth of the stock or 4,216 shares.
More notable recent Tanger Factory Outlet Centers Inc. (NYSE:SKT) news were published by: Bizjournals.com which released: “Upscale Tanger Outlet mall in Fort Worth to get underway; to employ hundreds” on October 03, 2016, also Prnewswire.com with their article: “Tanger Outlets Columbus Kicks Off Grand Opening Celebrations” published on June 24, 2016, News-Journalonline.com published: “Tanger job fair draws hundreds” on September 28, 2016. More interesting news about Tanger Factory Outlet Centers Inc. (NYSE:SKT) were released by: Prnewswire.com and their article: “Tanger Acquires 100% Ownership of Tanger Outlets Located in the Greater …” published on August 15, 2016 as well as Prnewswire.com‘s news article titled: “Tanger Factory Outlet Centers, Inc. 2015 Tax Reporting Information …” with publication date: January 20, 2016.
SKT Company Profile
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.
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