NEW YORK (
-- Tanger Factory Outlet Centers
) has been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and increase in net income. However, as a counter to these strengths, we also find weaknesses including premium valuation, disappointing return on equity and poor profit margins.
Tanger Factory Outlet Centers, Inc. operates as a real estate investment trust (REIT). The company, through its subsidiary, Tanger Properties Limited Partnership, engages in acquiring, developing, owning, operating, and managing factory outlet shopping centers. The company has a P/E ratio of 107.4, above the average real estate industry P/E ratio of 83.9 and above the S&P 500 P/E ratio of 23.2. Tanger Factory Outlet Centers has a market cap of $2.2 billion and is part of the
industry. Shares are up 4.2% year to date as of the close of trading on Tuesday.
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