Tanger Factory Outlet Centers Inc (SKT): Chad Perry , EVP,General Counsel,Secretary of Tanger Factory Outlet Centers Inc sold 1,000 shares on May 10, 2016. The Insider selling transaction was reported by the company on May 11, 2016 to the Securities and Exchange Commission. The shares were sold at $36.53 per share for a total value of $36,531.00 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on May 9, 2016, Virginia R Summerell (Senior VP, Treasurer) sold 4,216 shares at $36.10 per share price.On May 9, 2016, Carrie A Geldner (SVP, Chief Marketing Officer) sold 1,500 shares at $35.71 per share price.Also, On May 4, 2016, Steven B Tanger (President and CEO) sold 85,000 shares at $35.71 per share price.On May 4, 2016, Lisa J Morrison (Senior VP Leasing) sold 5,700 shares at $35.53 per share price.
Tanger Factory Outlet Centers: On Tuesday, May 10, 2016 heightened volatility was witnessed in Tanger Factory Outlet Centers which led to swings in the share price. The shares opened for trading at $36.76 and hit $36.76 on the upside , 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. The 52-week high of the share price is $37.395 and the company has a market cap of $3,530 M . The 52-week low of the share price is at $29.455.
Company has been under the radar of several Street Analysts.Tanger Factory Outlet Centers is Downgraded by Citigroup to Neutral. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on Apr 4, 2016.Tanger Factory Outlet Centers is Upgraded by Citigroup to Buy. Earlier the firm had a rating of Neutral on the company shares. The Rating was issued on Feb 16, 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.