Citigroup Inc. Sells 4,932 Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

Citigroup Inc. trimmed its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,311 shares of the real estate investment trust’s stock after selling 4,932 shares during the quarter. Citigroup Inc. owned 0.11% of Tanger Factory Outlet Centers worth $2,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SKT. State Street Corp raised its stake in shares of Tanger Factory Outlet Centers by 12.6% during the 1st quarter. State Street Corp now owns 6,252,459 shares of the real estate investment trust’s stock valued at $107,480,000 after purchasing an additional 700,755 shares during the period. Fisher Asset Management LLC bought a new position in Tanger Factory Outlet Centers in the 4th quarter worth about $9,735,000. BlackRock Inc. increased its stake in Tanger Factory Outlet Centers by 3.0% in the 3rd quarter. BlackRock Inc. now owns 18,519,731 shares of the real estate investment trust’s stock worth $253,349,000 after acquiring an additional 538,326 shares during the last quarter. Aew Capital Management L P bought a new position in Tanger Factory Outlet Centers in the 4th quarter worth about $8,093,000. Finally, Neuberger Berman Group LLC increased its stake in Tanger Factory Outlet Centers by 507.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 503,989 shares of the real estate investment trust’s stock worth $6,895,000 after acquiring an additional 421,062 shares during the last quarter. 74.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SKT shares. Compass Point lowered Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research note on Monday, January 30th. StockNews.com started coverage on Tanger Factory Outlet Centers in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group initiated coverage on Tanger Factory Outlet Centers in a research note on Tuesday, March 21st. They issued a “buy” rating and a $22.00 target price on the stock.

Insider Activity at Tanger Factory Outlet Centers

In related news, Director Thomas Reddin sold 5,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $19.95, for a total transaction of $99,750.00. Following the completion of the sale, the director now directly owns 45,067 shares in the company, valued at approximately $899,086.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by company insiders.

Tanger Factory Outlet Centers Price Performance

Shares of Tanger Factory Outlet Centers stock opened at $19.94 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 2.82. The firm has a market capitalization of $2.10 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 5.33 and a beta of 1.81. The business’s 50-day moving average price is $19.16 and its 200-day moving average price is $18.83. Tanger Factory Outlet Centers, Inc. has a 12 month low of $13.26 and a 12 month high of $20.27.

Tanger Factory Outlet Centers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 28th were given a dividend of $0.245 per share. The ex-dividend date was Thursday, April 27th. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.22. This represents a $0.98 annualized dividend and a dividend yield of 4.91%. Tanger Factory Outlet Centers’s dividend payout ratio is 124.05%.

Tanger Factory Outlet Centers Company Profile

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Tanger Factory Outlet Centers, Inc engages in the operation of upscale open-air outlet centers. The firm focuses on developing, acquiring, owning, operating, and managing outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.