Initiated Buy X

SKT Tanger Factory

Ladenburg Thalmann

$35

Initiated Equal Weight X

SKT Tanger Factory

Barclays

$33

Upgrades Neutral Buy X

SKT Tanger Factory

Goldman

$39 $40

Initiated Market Perform X

SKT Tanger Factory

BMO Capital Markets

$36

Initiated Hold X

SKT Tanger Factory

Deutsche Bank

$37

Upgrades Neutral Buy X

SKT Tanger Factory

BofA Securities

$35 $40

Upgrades Sec Underperform Sec Perform X

SKT Tanger Factory

Scotiabank

$20 $28

Upgrades Neutral Buy X

SKT Tanger Factory

Compass Point

$31 $32

Upgrades Neutral Buy X

SKT Tanger Factory

Citigroup

$30 $33

Upgrades Neutral Overweight X

SKT Tanger Factory

JP Morgan

$27 $29

Upgrades Underweight Neutral X

SKT Tanger Factory

JP Morgan

$24 $25

Downgrades Buy Neutral X

SKT Tanger Factory

Goldman

$26

Upgrades Neutral Buy X

SKT Tanger Factory

Compass Point

$21 $26

Resumed Buy X

SKT Tanger Factory

Goldman

$22

Downgrades Buy Neutral X

SKT Tanger Factory

Compass Point

$21

Upgrades Underperform In-line X

SKT Tanger Factory

Evercore ISI

$17 $22

Upgrades Neutral Buy X

SKT Tanger Factory

Compass Point

$23

Downgrades Neutral Sell X

SKT Tanger Factory

Goldman

$11 $12.50

Downgrades Neutral Sell X

SKT Tanger Factory

Goldman

$19.80 $15

Downgrades Neutral Underweight X

SKT Tanger Factory

JP Morgan

Downgrades Sec Weight Underweight X

SKT Tanger Factory

KeyBanc Capital Mkts

Downgrades In-line Underperform X

SKT Tanger Factory

Evercore ISI

SKT  Tanger Factory Outlet Centers, Inc.

Tanger Factory Outlet Centers, Inc. is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers. As of December 31, 2016, its portfolio consisted of 36 outlet centers, with a total gross leasable area of approximately 12.7 million square feet, which were 98% occupied and contained over 2,600 stores representing approximately 400 store brands. Its outlet centers and other assets are held by, and all of its operations are conducted by, Tanger Properties Limited Partnership and subsidiaries (Operating Partnership). The Company owns the majority of the units of partnership interest issued by the Operating Partnership, through its subsidiaries, Tanger GP Trust and Tanger LP Trust. Tanger GP Trust controls the Operating Partnership as its sole general partner.