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Shares of Tanger Factory Fall to a New 52-Week Low

By Shiri Gupta

Tanger Factory (NYSE:SKT) traded at a new 52-week low today of $5.55. So far today approximately 918,000 shares have been exchanged, as compared to an average 30-day volume of 4.4 million shares.

Tanger Factory (NYSE:SKT) has potential upside of 261.3% based on a current price of $5.85 and analysts' consensus price target of $21.13. Tanger Factory shares should first meet resistance at the 50-day moving average (MA) of $13.15 and find additional resistance at the 200-day MA of $15.07.

Tanger Factory Outlet Centers, Inc. is a real estate investment trust that owns and operates factory outlet centers. The Company offers amenities such as common areas, reading materials, and children's play areas are available in Tanger's outlets, which are located coast to coast throughout the United States.

Over the past year, Tanger Factoryhas traded in a range of $5.55 to $21.28 and are now at $5.85. The 200-day and 50-day moving averages have moved 1.07% lower and 3.34% lower over the past week, respectively.

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