330 institutions hold shares in Tanger Factory Outlet Centers Inc. (SKT), with 2.44M shares held by insiders accounting for 2.60% while institutional investors hold 81.51% of the company’s shares. The shares outstanding are 92.65M, and float is at 90.90M with Short Float at 40.52%. Institutions hold 79.39% of the Float.
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The top institutional shareholder in the company is Blackrock Inc. with over 16.44 million shares valued at $163.73 million. The investor’s holdings represent 17.59% of the SKT Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 14.33 million shares valued at $86.4 million to account for 15.33% of the shares outstanding. The other top investors are State Street Corporation which holds 4.76 million shares representing 5.10% and valued at over $28.73 million, while FMR, LLC holds 2.23% of the shares totaling 2.08 million with a market value of $20.71 million.
Tanger Factory Outlet Centers Inc. (NYSE: SKT) is 46.59% higher on its value in year-to-date trading and has touched a low of $4.05 and a high of $20.96 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SKT stock was last observed hovering at around $14.44 in the last trading session, with the day’s gains setting it 0.16% off its average median price target of $11.00 for the next 12 months. It is also -4.29% off the consensus price target high of $14.00 offered by 8 analysts, but current levels are -108.57% lower than the price target low of $7.00 for the same period.
Currently trading at $14.60, the stock is 2.09% and 18.54% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.57 million and changing 1.11% at the moment leaves the stock 77.57% off its SMA200. SKT registered 15.32% gain for a year compared to 6-month gain of 147.46%. The firm has a 50-day simple moving average (SMA 50) of $13.33 and a 200-day simple moving average (SMA200) of $8.94.
The stock witnessed a 13.09% loss in the last 1 month and extending the period to 3 months gives it a 58.87%, and is 0.48% up 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 4.61% over the week and 11.22% over the month.
Tanger Factory Outlet Centers Inc. (SKT) has around 285 employees, a market worth around $1.35B and $390.00M in sales. Fwd P/E is 54.68. Profit margin for the company is -23.00%. Distance from 52-week low is 260.49% and -30.34% 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 3.50, where 4 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.
Tanger Factory Outlet Centers Inc. is expected to release its quarterly report on 05/04/2021 and quarterly earnings per share for the current quarter are estimated at $0.04 with sales reaching $99.66M over the same period.The EPS is expected to grow by 104.90% this year, but quarterly earnings will post 1.90% year-over-year. Quarterly sales are estimated to shrink -8.20% in year-over-year returns.
Tanger Factory Outlet Centers Inc. (SKT) Insider Activity
A total of 9 insider transactions have happened at Tanger Factory Outlet Centers Inc. (SKT) in the last six months, with sales accounting for 7 and purchases happening 2 times. The most recent transaction is an insider purchase by Williams James Floyd, the company’s Executive VP & CFO. SEC filings show that Williams James Floyd bought 4,300 shares of the company’s common stock on Aug 21 at a price of $5.73 per share for a total of $24630.0. Following the purchase, the insider now owns 0.1 million shares.
Tanger Factory Outlet Centers Inc. disclosed in a document filed with the SEC on Aug 21 that Yalof Stephen (President & COO) bought a total of 10,000 shares of the company’s common stock. The trade occurred on Aug 21 and was made at $5.78 per share for $57770.0. Following the transaction, the insider now directly holds 0.4 million shares of the SKT stock.
Still, SEC filings show that on Mar 13, Worsham Charles Allen (SVP,Construction & Development) disposed off 12,500 shares at an average price of $8.96 for $0.11 million. The insider now directly holds 37,574 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 -17.58% lower over the past 12 months. Alexander’s Inc. (ALX) is -15.60% down on the 1-year trading charts. Short interest in the company’s stock has fallen -21.61% from the last report on Dec 30, 2020 to stand at a total of 44.8 million short shares sold with a short interest ratio of 5.81.