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Shares of Tanger Factory Fall Below Previous 52-Week Low

By David Diaz

Shares of Tanger Factory (NYSE:SKT) traded at a new 52-week low today of $17.50. So far today approximately 393,000 shares have been exchanged, as compared to an average 30-day volume of 1.8 million shares.

Tanger Factory has overhead space with shares priced $17.74, or 16.1% below the average consensus analyst price target of $21.13. The stock should find initial resistance at its 50-day moving average (MA) of $19.55 and further resistance at its 200-day MA of $21.83.

Tanger Factory share prices have moved between a 52-week high of $24.91 and the current low of $17.50 and are currently at $17.74 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.7%.

Tanger Factory Outlet Centers, Inc. (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers.

SmarTrend is tracking the current trend status for Tanger Factory and will alert subscribers who have SKT in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows tanger factory

Ticker(s): SKT