Tanger Factory Outlet Centers Inc. [SKT] moved down -5.74: Why It’s Important

Tanger Factory Outlet Centers Inc. [NYSE: SKT] traded at a low on 06/10/21, posting a -5.74 loss after which it closed the day’ session at $19.04. The company report on June 4, 2021 that Tanger Outlets Announces Sandeep Mathrani Elected to its Board of Directors.

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Tanger Factory Outlet Centers, Inc (NYSE: SKT) announced that Sandeep Mathrani has been elected to its Board of Directors, effective immediately. Mr. Mathrani is currently the Chief Executive Officer of WeWork Inc. and brings with him more than three decades of professional experience and insight.

“I am thrilled to welcome Sandeep to the Tanger Board and look forward to working closely with him as we envision the future of Tanger Outlets,” said Stephen Yalof, President and Chief Executive Officer. “Mr. Mathrani will further strengthen the talent represented on our Board.”.

The results of the trading session contributed to over 1345165 shares changing hands. Over the past one week, the price volatility of Tanger Factory Outlet Centers Inc. stands at 5.07% while the volatility over the past one month is 5.05%.

The market cap for SKT stock reached $1.94 billion, with 94.81 million shares outstanding and 89.91 million shares in the current float. Compared to the average trading volume of 2.12M shares, SKT reached a trading volume of 1345165 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Tanger Factory Outlet Centers Inc. [SKT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SKT shares is $14.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SKT stock is a recommendation set at 3.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Tanger Factory Outlet Centers Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 09, 2021. The new note on the price target was released on November 09, 2020, representing the official price target for Tanger Factory Outlet Centers Inc. stock.

The Average True Range (ATR) for Tanger Factory Outlet Centers Inc. is set at 0.94, with the Price to Sales ratio for SKT stock in the period of the last 12 months amounting to 5.12. The Price to Book ratio for the last quarter was 3.92, with the Price to Cash per share for the same quarter was set at 1.98.

How has SKT stock performed recently?

Tanger Factory Outlet Centers Inc. [SKT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.06. With this latest performance, SKT shares gained by 16.60% in over the last four-week period, additionally plugging by 77.78% over the last 6 months – not to mention a rise of 135.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SKT stock in for the last two-week period is set at 57.21, with the RSI for the last a single of trading hit 56.34, and the three-weeks RSI is set at 57.04 for Tanger Factory Outlet Centers Inc. [SKT]. The present Moving Average for the last 50 days of trading for this stock 17.17, while it was recorded at 19.35 for the last single week of trading, and 12.19 for the last 200 days.

Tanger Factory Outlet Centers Inc. [SKT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Tanger Factory Outlet Centers Inc. [SKT] shares currently have an operating margin of +24.57 and a Gross Margin at +36.40. Tanger Factory Outlet Centers Inc.’s Net Margin is presently recorded at -9.16.

Return on Total Capital for SKT is now 4.80, given the latest momentum, and Return on Invested Capital for the company is -1.84. Return on Equity for this stock declined to -9.55, with Return on Assets sitting at -1.65. When it comes to the capital structure of this company, Tanger Factory Outlet Centers Inc. [SKT] has a Total Debt to Total Equity ratio set at 485.66. Additionally, SKT Total Debt to Total Capital is recorded at 82.93, with Total Debt to Total Assets ending up at 75.72. Long-Term Debt to Equity for the company is recorded at 467.26, with the Long-Term Debt to Total Capital now at 79.78.

Reflecting on the efficiency of the workforce at the company, Tanger Factory Outlet Centers Inc. [SKT] managed to generate an average of -$70,152 per employee. Receivables Turnover for the company is 12.26 with a Total Asset Turnover recorded at a value of 0.18.

Earnings analysis for Tanger Factory Outlet Centers Inc. [SKT]

With the latest financial reports released by the company, Tanger Factory Outlet Centers Inc. posted -0.25/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -733.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SKT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tanger Factory Outlet Centers Inc. go to 6.70%.

Insider trade positions for Tanger Factory Outlet Centers Inc. [SKT]

There are presently around $1,513 million, or 85.00% of SKT stock, in the hands of institutional investors. The top three institutional holders of SKT stocks are: BLACKROCK INC. with ownership of 17,511,460, which is approximately 6.528% of the company’s market cap and around 2.70% of the total institutional ownership; VANGUARD GROUP INC, holding 15,342,407 shares of the stock with an approximate value of $292.12 million in SKT stocks shares; and STATE STREET CORP, currently with $91.24 million in SKT stock with ownership of nearly 2.388% of the company’s market capitalization.

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Positions in Tanger Factory Outlet Centers Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 121 institutional holders increased their position in Tanger Factory Outlet Centers Inc. [NYSE:SKT] by around 11,370,845 shares. Additionally, 139 investors decreased positions by around 8,557,426 shares, while 37 investors held positions by with 59,532,846 shares. The mentioned changes placed institutional holdings at 79,461,117 shares, according to the latest SEC report filing. SKT stock had 48 new institutional investments in for a total of 3,134,377 shares, while 49 institutional investors sold positions of 3,331,938 shares during the same period.

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