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Zacks Investment Research announced Tanger Factory Outlet Centers Inc. (NYSE:SKT), bumping up its stock price target to $41.00 today

In a report released on Tuesday October 11, 2016 Zacks Investment Research increased the stock price target of Tanger Factory Outlet Centers Inc. (NYSE:SKT) to $41.00 indicating a possible upside of 0.12%.

Yesterday Tanger Factory Outlet Centers Inc. (NYSE:SKT) traded -1.49% lower at $36.75. The company’s 50-day moving average is $39.28 and its 200-day moving average is $38.28. The last stock close price is down -4.88% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 223,766 shares of the stock were exchanged, down from an average trading volume of 530,878

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Tanger Factory Outlet Centers Inc. (NYSE:SKT)

Tanger Factory Outlet Centers Inc. has a 52 week low of $29.46 and a 52 week high of $42.20 with a P/E ratio of 13.91 The company’s market cap is currently $0.

In addition to Zacks Investment Research reporting its target price, a total of 10 firms have reported on the stock. The consensus target price is $38.70 with 1 firm rating the stock a strong buy, 2 firms rating the stock a buy, 8 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Tanger Factory Outlet Centers Inc. (NYSE:SKT)

Tanger Factory Outlet Centers, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing, acquiring, owning, operating and managing outlet shopping centers in the United States and Canada. The Company's consolidated portfolio consists of approximately 34 outlet centers, with a total gross leasable area of approximately 11.7 million square feet. The Company also has partial ownership interests in approximately nine outlet centers totaling approximately 2.7 million square feet, including four outlet centers in Canada. Its centers and other assets are held by, and all of the Company's operations are conducted by, Tanger Properties Limited Partnership (Operating Partnership) and subsidiaries. The Company's consolidated outlet centers range in size from 82,161 to 749,074 square feet and are located at least 10 miles from department stores and manufacturer-owned, full-price retail stores.

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