On a relative basis, the stock has outperformed the S&P 500 by 1.99% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.34% in the last 1 week, and is up 8.88% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Tanger Factory Outlet Centers (NYSE:SKT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.37 and $41.37 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $41.81. The buying momentum continued till the end and the stock did not give up its gains. It closed at $41.69, notching a gain of 0.68% for the day. The total traded volume was 801,980 . The stock had closed at $41.41 on the previous day.
The stock has recorded a 20-day Moving Average of 2.57% and the 50-Day Moving Average is 10.2%. Tanger Factory Outlet Centers Inc. is up 16.87% in the last 3-month period. Year-to-Date the stock performance stands at 29.8%.
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.