KeyBanc Capital Markets Downgrades Tanger Factory Outlet Centers To Hold (SKT)

KeyBanc Capital Markets downgraded its rating for Tanger Factory Outlet Centers SKT from Buy to Hold in a research report published today. In the report, KeyBanc states, "Despite a positive quarterly result and increased future earnings expectations on the prospects for acquisitions and potential development, we cannot justify sufficient upside to support a BUY recommendation, and therefore, downgrade the shares to HOLD." On Thursday, Tanger's shares ended at $27.75.