Media headlines about Tanger Factory Outlet Centers (NYSE:SKT) have been trending somewhat positive this week, AlphaOne Sentiment Analysis reports. The research firm, a unit of Accern, identifies negative and positive news coverage by analyzing more than 20 million news and blog sources. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Tanger Factory Outlet Centers earned a media sentiment score of 0.14 on AlphaOne’s scale. AlphaOne also gave media stories about the real estate investment trust an impact score of 72 out of 100, meaning that recent news coverage is likely to have an impact on the stock’s share price in the near term.
Here are some of the media stories that may have impacted AlphaOne Sentiment’s rankings:
- UPDATE: Jefferies Downgrades Tanger Factory Outlet Centers (SKT) to Hold – StreetInsider.com (streetinsider.com)
- Tanger Factory Outlet Centers, Inc. (SKT) Cut to Hold at Jefferies Group LLC (americanbankingnews.com)
- Institutional Ownership Update: Tanger Factory Outlet Centers (NYSE:SKT), Crown Castle International (NYSE:CCI) – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Equity in Focus: Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Business Daily (oxfordbusinessdaily.com)
- Citi Upgrades Tanger Factory Outlet Centers (SKT) to Neutral (streetinsider.com)
Several equities analysts recently commented on SKT shares. Evercore ISI raised shares of Tanger Factory Outlet Centers from a “hold” rating to an “outperform” rating in a research note on Friday, March 3rd. Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Thursday, March 16th. Citigroup Inc. raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a research note on Monday. ValuEngine cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and reduced their price objective for the company from $38.00 to $29.00 in a research note on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.20.
Tanger Factory Outlet Centers (SKT) traded down 3.73% during trading on Friday, reaching $25.79. 2,944,064 shares of the company’s stock were exchanged. The company has a market cap of $2.46 billion, a P/E ratio of 13.16 and a beta of 0.46. The stock’s 50-day moving average is $27.11 and its 200-day moving average is $32.23. Tanger Factory Outlet Centers has a 12-month low of $24.71 and a 12-month high of $42.20.
Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by $0.35. The company had revenue of $121.37 million for the quarter, compared to the consensus estimate of $122.59 million. Tanger Factory Outlet Centers had a net margin of 39.32% and a return on equity of 27.05%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. Analysts predict that Tanger Factory Outlet Centers will post $1.01 EPS for the current fiscal year.
In related news, EVP Chad Perry sold 8,000 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $27.57, for a total value of $220,560.00. Following the completion of the transaction, the executive vice president now directly owns 78,112 shares of the company’s stock, valued at $2,153,547.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Allan L. Schuman sold 32,930 shares of the firm’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $28.52, for a total transaction of $939,163.60. Following the completion of the transaction, the director now directly owns 43,953 shares of the company’s stock, valued at $1,253,539.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,339 shares of company stock worth $1,499,994. Company insiders own 2.10% of the company’s stock.
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Tanger Factory Outlet Centers Company Profile
Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.
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