A Guide To The Risks Of Investing In Tanger Factory Outlet Centers Inc. (SKT)


Tanger Factory Outlet Centers Inc.’s recent filing unveils that its Executive Chair of the Board TANGER STEVEN B unloaded Company’s shares for reported $1.5 million on Feb 02. In the deal valued at $20.00 per share,75,000 shares were sold. As a result of this transaction, TANGER STEVEN B now holds 1,274,686 shares worth roughly $ 23.89 million.

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Then, TANGER STEVEN B sold 50,000 shares, generating $975,000 in total proceeds. Upon selling the shares at $19.50, the Executive Chair of the Board now owns 1,349,686 shares.

Before that, TANGER STEVEN B sold 50,000 shares. Tanger Factory Outlet Centers Inc. shares valued at $950,000 were divested by the Executive Chair of the Board at a price of $19.00 per share. As a result of the transaction, TANGER STEVEN B now holds 1,399,686 shares, worth roughly $26.23 million.

Compass Point downgraded its Tanger Factory Outlet Centers Inc. [SKT] rating to a Neutral from a a Buy in a research note published on Monday. PT values the company’s stock at a premium of 10.76 to its Monday closing price. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who increased its forecast for the stock in early November from “an Underperform” to “an In-line”. Compass Point also remained covering SKT and has increased its forecast on November 03, 2021 with a “Buy” recommendation from previously “Neutral” rating. Goldman revised its rating on March 09, 2021. It rated SKT as “a Sell” which previously was an “a Neutral”.

Price Performance Review of SKT

On Monday, Tanger Factory Outlet Centers Inc. [NYSE:SKT] saw its stock fall -1.00% to $18.74. On the same session, the stock had its day’s lowest price of $18.46, but rose to a high of $19.07. Over the last five days, the stock has lost -0.74%. Tanger Factory Outlet Centers Inc. shares have risen nearly 4.46% since the year began. Nevertheless, the stocks have risen 10.17% over the past one year. While a 52-week high of $20.27 was reached on 02/02/23, a 52-week low of $13.26 was recorded on 01/10/23. SMA at 50 days reached $18.50, while 200 days put it at $17.00. A total of 0.94 million shares were traded, compared to the trading of 0.64 million shares in the previous session.

Levels Of Support And Resistance For SKT Stock

The 24-hour chart illustrates a support level at 18.44, which if violated will result in even more drops to 18.15. On the upside, there is a resistance level at 19.05. A further resistance level may holdings at 19.37. The Relative Strength Index (RSI) on the 14-day chart is 50.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 38.07%. Stochastics %K at 69.70% indicates the stock is a holding.

How much short interest is there in Tanger Factory Outlet Centers Inc.?

A steep rise in short interest was recorded in Tanger Factory Outlet Centers Inc. stocks on Jan 12, 2023, growing by 0.78 million shares to a total of 7.41 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 6.63 million shares. There was a rise of 10.53%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 11.42% of the overall stock float, the days-to-cover ratio (short ratio) rose to 10.12.

Tanger Factory Outlet Centers Inc. [SKT] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 16,531,570 shares, or roughly 15.84% of the outstanding SKT shares. In other words, the investor’s shares have risen by 731,052 from its previous 13-F filing of 15800518.0. Additionally, The Vanguard Group, Inc. increased 1.27% of its stake after which the total value it holdings stand at $313,867,456, while SSgA Funds Management, Inc. added 3.75% of its stake to hold $123.68 million in the firm. Over the last quarter, Wellington Management Co. LLP purchased 1,320,093 shares of Tanger Factory Outlet Centers Inc., while LSV Asset Management bought 80,166 shares. At present, Columbia Management Investment Ad is holding 2,440,041 shares valued at $46.63 million. Geode Capital Management LLC owned 2,046,123 shares of the company at the time of its most recent 13F filing, worth $39.1 million.

According to FactSet, Tanger Factory Outlet Centers Inc.’s share price will average $19.20 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.65 percent from its previous closing price of $18.93. Analysts expect Tanger Factory Outlet Centers Inc. stock to reach the higher price of $21.00, while the lowest price estimate is $16.00. However, 7 analysts have rated SKT stock as an Underweight in their predictions for 2023.


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