Tanger Factory Outlet Centers Inc. (SKT): Hedge Funds Are Bearish and Insiders Are Bullish, What Should You Do? – Equity One, Inc. (EQY), Weingarten Realty Investors (WRI)

Tanger Factory Outlet Centers Inc. (NYSE:SKT) was in 9 hedge funds’ portfolio at the end of December. SKT shareholders have witnessed a decrease in support from the world’s most elite money managers lately. There were 13 hedge funds in our database with SKT positions at the end of the previous quarter.

Tanger Factory Outlet Centers Inc. (NYSE:SKT)

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Now, we’re going to take a gander at the latest action regarding Tanger Factory Outlet Centers Inc. (NYSE:SKT).

How have hedgies been trading Tanger Factory Outlet Centers Inc. (NYSE:SKT)?

At year’s end, a total of 9 of the hedge funds we track were bullish in this stock, a change of -31% from the third quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were boosting their stakes substantially.

According to our comprehensive database, Ken Heebner’s Capital Growth Management had the most valuable position in Tanger Factory Outlet Centers Inc. (NYSE:SKT), worth close to $46.3 million, accounting for 1.2% of its total 13F portfolio. On Capital Growth Management’s heels is Andrew Sandler of Sandler Capital Management, with a $31.1 million position; the fund has 1.6% of its 13F portfolio invested in the stock. Some other hedgies that hold long positions include Ken Griffin’s Citadel Investment Group, Israel Englander’s Millennium Management and Jim Simons’s Renaissance Technologies.

Judging by the fact that Tanger Factory Outlet Centers Inc. (NYSE:SKT) has experienced declining sentiment from the entirety of the hedge funds we track, we can see that there were a few money managers who were dropping their positions entirely heading into 2013. At the top of the heap, Ken Gray and Steve Walsh’s Bryn Mawr Capital cut the biggest stake of the 450+ funds we monitor, valued at close to $4 million in stock., and D. E. Shaw of D E Shaw was right behind this move, as the fund sold off about $1.4 million worth. These transactions are interesting, as aggregate hedge fund interest was cut by 4 funds heading into 2013.

What have insiders been doing with Tanger Factory Outlet Centers Inc. (NYSE:SKT)?

Insider purchases made by high-level executives is best served when the company in focus has seen transactions within the past half-year. Over the last half-year time frame, Tanger Factory Outlet Centers Inc. (NYSE:SKT) has seen 1 unique insiders purchasing, and 7 insider sales (see the details of insider trades here).

Let’s go over hedge fund and insider activity in other stocks similar to Tanger Factory Outlet Centers Inc. (NYSE:SKT). These stocks are EPR Properties (NYSE:EPR), Equity One, Inc. (NYSE:EQY), Weingarten Realty Investors (NYSE:WRI), CBL & Associates Properties, Inc. (NYSE:CBL), and Hospitality Properties Trust (NYSE:HPT). This group of stocks belong to the reit – retail industry and their market caps match SKT’s market cap.