Tanger Inc. (SKT)

In the past six months, Tanger, Inc. has experienced several notable stock events, including earnings reports, acquisitions and dispositions, financing activities, and analyst ratings. Tanger announced earnings per share of $0.28 for the fiscal quarter ending September 30, 2025, missing the average analyst estimate of $0.58, but reported FFO of $0.60, beating estimates by $0.01, and revenue of $145.21M, beating by $6.36M, leading to a lift in FFO guidance. Tanger reported strong fourth-quarter and full-year 2024 results and introduced its 2025 guidance. In December 2024, Tanger completed the acquisition of The Promenade at Chenal for $73.1 million and also acquired Pinecrest in Cleveland, Ohio, and sold the non-core Howell Center for $17 million. Tanger announced the pricing of an upsized exchangeable senior notes offering and a proposed private placement of $200 million of exchangeable senior notes and closed $550 million of unsecured term loan facilities. Citi downgraded Tanger to "Neutral," while LADENBURG THALM/SH SH upgraded shares of Tanger to a "strong-buy" rating. Evercore ISI boosted their price objective on Tanger from $35.00 to $36.00, and Barclays raised their price objective on Tanger from $35.00 to $37.00. Overall, Tanger has received an average recommendation of "Moderate Buy" from eight ratings firms.

Demand for Tanger's products and services exhibits seasonality, with peak seasons typically aligning with major holidays and shopping events. Demand is likely higher during the holiday seasons, the summer selling season, and the back-to-school period. Tanger's strategy aims to mitigate some of the inherent seasonality by making their centers year-round destinations. The company's properties are also often located in tourist destinations, which can provide more consistent traffic.

Tanger, Inc. is a real estate investment trust that specializes in owning, operating, and managing upscale open-air outlet and lifestyle shopping centers in the United States and Canada. The company's primary product is its portfolio of shopping centers, which are leased to a diverse range of brand-name companies operating stores that provide an off-price retail experience.

Tanger's operating properties are strategically located across 21 to 22 U.S. states and in Canada. As of December 31, 2024, the company's portfolio comprised 38 outlet centers, one adjacent managed center, and three open-air lifestyle centers, totaling over 16 million square feet.

Tanger's brand reputation in the past year appears to be generally positive, with a focus on strong operational performance and strategic growth. The company has been highlighted for its ability to drive positive rent spreads and occupancy in a challenging retail landscape, differentiating itself from traditional outlet centers through a strategic shift towards lifestyle center components and a diversified tenant mix. Tanger reported strong fourth-quarter and full-year 2024 results, with improved sales productivity and robust organic growth. The acquisition of two open-air shopping centers demonstrates the company's commitment to its external growth strategy and enhancing its portfolio. The company has consistently reported strong tenant demand and positive foot traffic, with average tenant sales per square foot increasing. Tanger has a history of increasing its dividend, which contributes positively to its reputation among income-focused investors. Analyst sentiment is generally favorable on the company's prospects and execution of its strategy.

Tanger Inc. has a mixed ownership structure, including institutional, retail, and individual investors. Approximately 66.07% of the company's stock is owned by Institutional Investors, 2.18% by Insiders, and 31.75% by Public Companies and Individual Investors. Major institutional owners include BlackRock, Inc., Vanguard Group Inc., Fmr Llc., State Street Corp., Geode Capital Management, Llc., Invesco Ltd., Wellington Management Group LLP, and Northern Trust Corp.