Tanger Factory Outlet Centers (SKT) : Duff Phelps Investment Management Co scooped up 93,504 additional shares in Tanger Factory Outlet Centers during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 1,763,710 shares of Tanger Factory Outlet Centers which is valued at $65,098,536.Tanger Factory Outlet Centers makes up approximately 0.94% of Duff Phelps Investment Management Co’s portfolio.
Other Hedge Funds, Including , Sarasin Partners Llp boosted its stake in SKT in the latest quarter, The investment management firm added 4,320 additional shares and now holds a total of 173,485 shares of Tanger Factory Outlet Centers which is valued at $6,403,331. Tanger Factory Outlet Centers makes up approx 0.10% of Sarasin Partners Llp’s portfolio. Fox Run Management L.l.c. sold out all of its stake in SKT during the most recent quarter. The investment firm sold 5,700 shares of SKT which is valued $208,050.Independent Portfolio Consultants boosted its stake in SKT in the latest quarter, The investment management firm added 565 additional shares and now holds a total of 2,600 shares of Tanger Factory Outlet Centers which is valued at $95,082. Tanger Factory Outlet Centers makes up approx 0.03% of Independent Portfolio Consultants’s portfolio.
Tanger Factory Outlet Centers closed down -0.12 points or -0.32% at $36.91 with 8,16,181 shares getting traded on Friday. Post opening the session at $36.93, the shares hit an intraday low of $36.69 and an intraday high of $37.18 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, Tanger Factory Outlet Centers reported $0.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.55. The company had revenue of $110.80 million for the quarter, compared to analysts expectations of $114.01 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.
Investors should note that on Oct 6, 2016, Tanger Factory Outlet Centers announced a cash dividend of $0.3250. The company’s management has announced Oct 27, 2016 as the ex-dividend date and fixed the record date on Oct 31, 2016. The payable date has been fixed on Nov 15, 2016.
Many Wall Street Analysts have commented on Tanger Factory Outlet Centers. Company shares were Reiterated by RBC Capital Mkts on Aug 1, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $44 .
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 Company’s 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 24619 to 749074 square feet and are located at least ten miles from department stores and manufacturer-owned retail stores.