Tanger Factory Outlet Centers (SKT) has been under a strong bear grip, hence the stock is down -3.07% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.56% in the past 1 week. The stock has risen by 0.62% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.07% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 0.81% and the 50-Day Moving Average is 3.26%. Tanger Factory Outlet Centers (NYSE:SKT): stock turned positive on Friday. Though the stock opened at $40.52, the bulls momentum made the stock top out at $41.25 level for the day. The stock recorded a low of $40.52 and closed the trading day at $40.69, in the green by 0.54%. The total traded volume for the day was 515,608. The stock had closed at $40.47 in the previous days trading.
The company Insiders own 2.1% of Tanger Factory Outlet Centers shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -2% . Institutional Investors own 95.47% of Tanger Factory Outlet Centers shares. During last six month period, the net percent change held by insiders has seen a change of -9.32%. Also, Citigroup maintains their rating on the shares of Tanger Factory Outlet Centers (NYSE:SKT). The current rating of the shares is Neutral. Equity Analysts at the Firm raises the price target to $39 per share from $37 per share. The rating by the firm was issued on August 8, 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 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.