Pensionfund Sabic Lowers stake in Tanger Factory Outlet Centers (SKT)

Tanger Factory Outlet Centers (SKT) : Pensionfund Sabic reduced its stake in Tanger Factory Outlet Centers by 28.99% during the most recent quarter end. The investment management company now holds a total of 24,500 shares of Tanger Factory Outlet Centers which is valued at $894,250 after selling 10,000 shares in Tanger Factory Outlet Centers , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Tanger Factory Outlet Centers makes up approximately 0.28% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in SKT in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 7,381 shares of Tanger Factory Outlet Centers which is valued at $269,407. Tanger Factory Outlet Centers makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in SKT in the latest quarter, The investment management firm added 655 additional shares and now holds a total of 32,650 shares of Tanger Factory Outlet Centers which is valued at $1,206,744. Tanger Factory Outlet Centers makes up approx 0.03% of Oregon Public Employees Retirement Fund’s portfolio.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 -0.46 points or -1.24% at $36.5 with 5,58,848 shares getting traded on Tuesday. Post opening the session at $36.72, the shares hit an intraday low of $36.385 and an intraday high of $36.91 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

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.

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