Tanger Factory Outlet Centers (NYSE:SKT) : Traders are bullish on Tanger Factory Outlet Centers (NYSE:SKT) as it has outperformed the S&P 500 by a wide margin of 8.63% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.65%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.94% in the last 1 week, and is up 10.39% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 23.40% from its 1 Year high price. On Jul 8, 2016, the shares registered one year high at $41.14 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $37.45 and the 200 Day Moving Average price is recorded at $34.86.
The stock has recorded a 20-day Moving Average of 6.35% and the 50-Day Moving Average is 11.76%.
Tanger Factory Outlet Centers (NYSE:SKT): stock turned positive on Friday. Though the stock opened at $40.91, the bulls momentum made the stock top out at $41.14 level for the day. The stock recorded a low of $40.64 and closed the trading day at $41.03, in the green by 0.69%. The total traded volume for the day was 1,020,693. The stock had closed at $40.75 in the previous days trading.
In an insider trading activity,The officer (EVP,General Counsel,Secretary) of Tanger Factory Outlet Centers Inc, Perry Chad sold 1,000 shares at $36.53 on May 10, 2016. The Insider selling transaction had a total value worth of $36,530. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.