Tanger Factory Outlet Centers Inc. (NYSE: SKT) is -55.94% lower on its value in year-to-date trading and has touched a low of $4.05 and a high of $17.94 in the current 52-week trading range. The SKT stock was last observed hovering at around $6.49 in the recent trading session, with the current gains setting it 0.21% off its average median price target of $6.00 for the next 12 months. It is also 16.25% off the consensus price target high of $8.00 offered by 8 analysts, but current levels are -91.43% lower than the price target low of $3.50 for the same period.
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At last check, trading at $6.70, the stock is -6.31% and -3.29% below its SMA20 and SMA50 respectively. However, with a current trading volume of 0.63 million and changing 3.24% at the moment leaves the stock -41.60% off its SMA200. SKT registered -60.55% loss for a year compared to 6-month loss of -60.33%. The firm has a 50-day simple moving average (SMA 50) of $7.22 and a 200-day simple moving average (SMA200) of $9.52.
The stock witnessed a -27.40% gain in the last 1 month and extending the period to 3 months gives it a 0.78%, and is -7.94% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.78% over the week and 7.51% over the month.
Tanger Factory Outlet Centers Inc. (SKT) has around 285 employees, a market worth around $616.16M and $466.80M in sales. Fwd P/E is 17.73. Profit margin for the company is -0.60%. Distance from 52-week low is 65.43% and -62.65% from its 52-week high. The company has generated returns on investments over the last 12 months (5.30%).
Tanger Factory Outlet Centers Inc. (SKT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Tanger Factory Outlet Centers Inc. (SKT) is a “Underweight”. 8 analysts offering their recommendations for the stock have an average rating of 3.90, where 2 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 5 analysts have rated the stock as a Sell or Underperform.
Tanger Factory Outlet Centers Inc. is expected to release its quarterly report on 08/05/2020 and quarterly earnings per share for the current quarter are estimated at $0.05 with sales reaching $95.44M over the same period.The EPS is expected to grow by 104.90% this year, but quarterly earnings will post -13.30% year-over-year. Quarterly sales are estimated to shrink -15.10% in year-over-year returns.
Tanger Factory Outlet Centers Inc. (SKT) Top Institutional Holders
365 institutions hold shares in Tanger Factory Outlet Centers Inc. (SKT), with 2.63M shares held by insiders accounting for 2.82% while institutional investors hold 117.86% of the company’s shares. The shares outstanding are 97.41M, and float is at 91.05M with Short Float at 56.45%. Institutions hold 114.53% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 16.52 million shares valued at $82.59 million. The investor’s holdings represent 17.67% of the SKT Shares outstanding. As of Mar 30, 2020, the second largest holder is Blackrock Inc. with 16.2 million shares valued at $80.98 million to account for 17.33% of the shares outstanding. The other top investors are State Street Corporation which holds 5.27 million shares representing 5.64% and valued at over $26.36 million, while Marathon Asset Management LLP holds 2.36% of the shares totaling 2.2 million with a market value of $11.02 million.
Tanger Factory Outlet Centers Inc. (SKT) Insider Activity
A total of 27 insider transactions have happened at Tanger Factory Outlet Centers Inc. (SKT) in the last six months, with sales accounting for 9 and purchases happening 18 times. The most recent transaction is an insider sale by Worsham Charles Allen, the company’s SVP,Construction & Development. SEC filings show that Worsham Charles Allen sold 12,500 shares of the company’s common stock on Mar 13 at a price of $8.96 per share for a total of $0.11 million. Following the sale, the insider now owns 37574.0 shares.
Tanger Factory Outlet Centers Inc. disclosed in a document filed with the SEC on Feb 20 that SUMMERELL VIRGINIA R (Senior VP, Treasurer) sold a total of 5,830 shares of the company’s common stock. The trade occurred on Feb 20 and was made at $12.56 per share for $73236.0. Following the transaction, the insider now directly holds 34310.0 shares of the SKT stock.
Still, SEC filings show that on Aug 21, HENRY DAVID (Director) acquired 10,000 shares at an average price of $14.41 for $0.14 million. The insider now directly holds 34,400 shares of Tanger Factory Outlet Centers Inc. (SKT).
Tanger Factory Outlet Centers Inc. (SKT): Who are the competitors?
The company’s main competitors (and peers) include Regency Centers Corporation (REG) that is -39.33% lower over the past 12 months. Short interest in the company’s stock has risen 4.36% from the last report on May 14, 2020 to stand at a total of 49.16 million short shares sold with a short interest ratio of 11.94.