Trade-Ideas LLC identified Tanger Factory Outlet Centers ( SKT) as a weak on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Tanger Factory Outlet Centers as such a stock due to the following factors:

  • SKT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $30.3 million.
  • SKT has traded 150,687 shares today.
  • SKT is trading at 9.16 times the normal volume for the stock at this time of day.
  • SKT is trading at a new low 3.07% below yesterday's close.

'Weak on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as material stock news, analyst downgrades, insider selling, selling from 'superinvestors,' or that hedge funds and traders are piling out of a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize (or avoid losses by trimming weak positions). In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.

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More details on SKT:

Tanger Factory Outlet Centers, Inc. is a real estate investment trust. The firm invests in the real estate markets in United States. It focuses on developing, acquiring, owning, operating, and managing outlet shopping centers. Tanger Factory Outlet Centers, Inc. The stock currently has a dividend yield of 3.7%. SKT has a PE ratio of 25. Currently there are no analysts that rate Tanger Factory Outlet Centers a buy, 1 analyst rates it a sell, and 6 rate it a hold.

The average volume for Tanger Factory Outlet Centers has been 925,900 shares per day over the past 30 days. Tanger Factory Outlet Centers has a market cap of $3.0 billion and is part of the financial sector and real estate industry. The stock has a beta of 0.23 and a short float of 3.9% with 2.94 days to cover. Shares are down 6.3% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Tanger Factory Outlet Centers as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and compelling growth in net income. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.

Highlights from the ratings report include:
  • SKT's revenue growth has slightly outpaced the industry average of 7.2%. Since the same quarter one year prior, revenues slightly increased by 8.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Current return on equity exceeded its ROE from the same quarter one year prior. This is a clear sign of strength within the company. When compared to other companies in the Real Estate Investment Trusts (REITs) industry and the overall market, TANGER FACTORY OUTLET CTRS's return on equity exceeds that of the industry average and significantly exceeds that of the S&P 500.
  • 44.29% is the gross profit margin for TANGER FACTORY OUTLET CTRS which we consider to be strong. Regardless of SKT's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, SKT's net profit margin of 37.76% significantly outperformed against the industry.
  • TANGER FACTORY OUTLET CTRS reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, TANGER FACTORY OUTLET CTRS reported lower earnings of $0.77 versus $1.13 in the prior year. This year, the market expects an improvement in earnings ($1.35 versus $0.77).
  • SKT has underperformed the S&P 500 Index, declining 17.87% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.

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