Analyst Rating Update on Tanger Factory Outlet Centers (SKT)

Tanger Factory Outlet Centers (NYSE:SKT) has an average broker rating of 3, which is interpreted as a Hold, as rated by 7 equity analysts. Nonetheless, 1 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 5 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 1 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.

Tanger Factory Outlet Centers (NYSE:SKT) : The highest short term price target forecast on Tanger Factory Outlet Centers (NYSE:SKT) is $39 and the lowest target price is $33. A total of 4 equity analysts are currently covering the company. The average price of all the analysts is $37 with a standard deviation of $2.71.

Company shares have received an average consensus rating of Hold for the current week Also, Equity Analysts at the Brokerage Firm, Citigroup, downgrades their rating on the shares of Tanger Factory Outlet Centers (NYSE:SKT). Citigroup has a Neutral rating on the shares. Previously, the analysts had a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $35 per share from a prior target of $34. The rating by the firm was issued on April 4, 2016.

Tanger Factory Outlet Centers (NYSE:SKT): stock turned positive on Tuesday. Though the stock opened at $39.25, the bulls momentum made the stock top out at $39.7 level for the day. The stock recorded a low of $39 and closed the trading day at $39.67, in the green by 1.30%. The total traded volume for the day was 1,283,592. The stock had closed at $39.16 in the previous days trading.

In an insider trading activity, The Securities and Exchange Commission has divulged that Perry Chad, officer (EVP,General Counsel,Secretary) of Tanger Factory Outlet Centers Inc, had unloaded 1,000 shares at an average price of $36.53 in a transaction dated on May 10, 2016. The total value of the transaction was worth $36,530.

Tanger Factory Outlet Centers, Inc. is a fully-integrated, self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The Company has interests in nine outlet centers totaling approximately 2.6 million square feet, including four outlet centers in Canada. The outlet centers and other assets are held by, and all of the Companys operations are conducted by, Tanger Properties Limited Partnership and subsidiaries. The Company owns the units of partnership interest issued by the Operating Partnership, through its two wholly owned subsidiaries, Tanger GP Trust and Tanger LP Trust. Tanger GP Trust controls the Operating Partnership as its sole general partner. Tanger LP Trust holds a limited partnership interest. Its outlet centers range in size from 24,619 to 749,074 square feet and are located at least ten miles from department stores and manufacturer-owned retail stores.

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