Foresters Investment Management Company buys $54,272,322 stake in Tanger Factory Outlet Centers (SKT)

Tanger Factory Outlet Centers (SKT) : Foresters Investment Management Company scooped up 61,300 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 Aug 15, 2016. The investment management firm now holds a total of 1,333,800 shares of Tanger Factory Outlet Centers which is valued at $54,272,322.Tanger Factory Outlet Centers makes up approximately 1.06% of Foresters Investment Management Company’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 10,460 additional shares and now holds a total of 42,070 shares of Tanger Factory Outlet Centers which is valued at $1,711,828. Tanger Factory Outlet Centers makes up approx 0.09% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Ramsey Quantitative Systems reduced its stake in SKT by selling 2,453 shares or 13.59% in the most recent quarter. The Hedge Fund company now holds 15,591 shares of SKT which is valued at $634,398. Tanger Factory Outlet Centers makes up approx 0.67% of Ramsey Quantitative Systems’s portfolio.Amica Retiree Medical Trust reduced its stake in SKT by selling 400 shares or 32.18% in the most recent quarter. The Hedge Fund company now holds 843 shares of SKT which is valued at $34,268. Tanger Factory Outlet Centers makes up approx 0.03% of Amica Retiree Medical Trust’s portfolio.

Tanger Factory Outlet Centers closed down -0.4 points or -0.98% at $40.24 with 5,20,428 shares getting traded on Thursday. Post opening the session at $40.55, the shares hit an intraday low of $40.08 and an intraday high of $40.69 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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. Company shares were Reiterated by RBC Capital Mkts on Aug 1, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $44 .Tanger Factory Outlet Centers was Downgraded by Hilliard Lyons to ” Neutral” on Jul 6, 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.

Leave a Reply

Tanger Factory Outlet Centers - Is it time to Sell?

Top Brokerage Firms are advising their investors on Tanger Factory Outlet Centers. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.