Globeflex Capital L P buys $5,524,288 stake in Tanger Factory Outlet Centers (SKT)

Tanger Factory Outlet Centers (SKT) : Globeflex Capital L P scooped up 17,002 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 May 3, 2016. The investment management firm now holds a total of 152,689 shares of Tanger Factory Outlet Centers which is valued at $5,524,288.Tanger Factory Outlet Centers makes up approximately 1.51% of Globeflex Capital L P’s portfolio.

Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan boosted its stake in SKT in the latest quarter, The investment management firm added 860 additional shares and now holds a total of 31,610 shares of Tanger Factory Outlet Centers which is valued at $1,143,650. Tanger Factory Outlet Centers makes up approx 0.08% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Aew Capital Management L P reduced its stake in SKT by selling 91,719 shares or 4.93% in the most recent quarter. The Hedge Fund company now holds 1,770,100 shares of SKT which is valued at $64,042,218. Tanger Factory Outlet Centers makes up approx 1.30% of Aew Capital Management L P’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in SKT in the latest quarter, The investment management firm added 4,376 additional shares and now holds a total of 27,457 shares of Tanger Factory Outlet Centers which is valued at $963,192. Tanger Factory Outlet Centers makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio.Mizuho Trust Banking Ltd. reduced its stake in SKT by selling 453 shares or 2.54% in the most recent quarter. The Hedge Fund company now holds 17,411 shares of SKT which is valued at $610,778.Louisiana State Employees Retirement System boosted its stake in SKT in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 26,300 shares of Tanger Factory Outlet Centers which is valued at $922,604. Tanger Factory Outlet Centers makes up approx 0.05% of Louisiana State Employees Retirement System’s portfolio.

Tanger Factory Outlet Centers opened for trading at $36.76 and hit $36.76 on the upside on Tuesday, eventually ending the session at $36.72, with a gain of 0.27% or 0.1 points. The heightened volatility saw the trading volume jump to 11,18,822 shares. Company has a market cap of $3,530 M.

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. Tanger Factory Outlet Centers was Downgraded by Citigroup to ” Neutral” on Apr 4, 2016. Tanger Factory Outlet Centers was Upgraded by Citigroup to ” Buy” on Feb 16, 2016. Tanger Factory Outlet Centers was Upgraded by Hilliard Lyons to ” Buy” on Feb 11, 2016.

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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