NEW YORK ( TheStreet) -- The ex-dividend date for Tanger Factory Outlet Centers (NYSE: SKT) is tomorrow, October 26, 2011. Owners of shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $28.09 as of 9:30 a.m. ET, the dividend yield is 2.9%.

The average volume for Tanger Factory Outlet Centers has been 1.1 million shares per day over the past 30 days. Tanger Factory Outlet Centers has a market cap of $2.4 billion and is part of the financial sector and real estate industry. Shares are up 10.4% year to date as of the close of trading on Monday.

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 56.8, below the average real estate industry P/E ratio of 57.4 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Tanger Factory Outlet Centers as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and poor profit margins. You can view the full Tanger Factory Outlet Centers Ratings Report.

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