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Tanger Inc. - SKT STOCK NEWS

Welcome to our dedicated page for Tanger news (Ticker: SKT), a resource for investors and traders seeking the latest updates and insights on Tanger stock.

Tanger Inc. (NYSE: SKT) is a prominent owner and operator of outlet and open-air retail shopping destinations, headquartered in Greensboro, North Carolina. Established over 43 years ago, Tanger has built a robust portfolio that includes 38 outlet centers, one adjacent managed center, and one open-air lifestyle center, comprising over 15 million square feet across 20 U.S. states and Canada. Renowned for offering first-quality, in-season merchandise, Tanger Outlet Centers attract over 180 million savvy shoppers annually, making them major tourist attractions.

Tanger Inc.'s business model focuses on providing the latest fashion trends from top brand names and designer outlets directly from manufacturers, ensuring consumers enjoy significant savings. The company's innovative approach to retail includes diversifying tenant mix and enhancing the shopping experience, leading to the operation of over 3,000 stores by more than 700 different brand name companies.

As a publicly traded Real Estate Investment Trust (REIT) since 1993, Tanger has been a pioneer in the retail outlet industry. The company continually adapts to market trends and consumer behavior, ensuring sustained growth and relevance in a competitive market. With a solid balance sheet, strategic partnerships, and a commitment to long-term growth, Tanger Inc. remains well-positioned to unlock additional value for all stakeholders.

Recent achievements include the amendment and extension of its unsecured lines of credit, enhancing financial flexibility and reducing interest expenses. Tanger has also been recognized with the 2024 Nareit Investor CARE Gold Award, highlighting its excellence in investor communications and transparency. Additionally, the company reported a positive financial outlook and operational metrics for the first quarter of 2024, including a 6% dividend increase and robust leasing activity.

Looking ahead, Tanger Inc. aims to continue its strategic focus on portfolio enhancement, tenant diversification, and innovative retail experiences. The company's proactive approach to financial management and investor relations ensures a strong foundation for future growth and value creation.

News
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Tanger Factory Outlet Centers, Inc. (NYSE:SKT) reported Q3 2020 financial results, highlighting a net income per share of $0.14, down from $0.25 in Q3 2019, due to COVID-19 impacts. Rent collections improved to 89% of billed amounts. The company has $640 million in liquidity, with 99% of stores reopened. Third-quarter funds from operations (FFO) were $0.44 per share, down from $0.58 YoY. The occupancy rate was 92.9%, declining from 95.9% a year prior. Dividend distributions were suspended to conserve cash amid ongoing pandemic uncertainties.

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Tanger Factory Outlet Centers (NYSE: SKT) has published its 2019 Corporate Responsibility Report, showcasing significant achievements in environmental, social, and governance (ESG) practices. Key highlights include a 5.7% reduction in greenhouse gas emissions at stable centers and an 11.4% decrease since 2016. Over 30% of its centers have received LEED Gold certification. The company reported that women represent 87% of field employees and 53% of the Executive Leadership Team. In charitable initiatives, Tanger contributed over $1.2 million in 2019, totaling more than $20.4 million since 1994.

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Tanger Factory Outlet Centers (NYSE: SKT) announced its participation in the Civic Alliance, a non-partisan coalition aimed at promoting safe elections. The company will support the Power the Polls initiative to recruit poll workers, encouraging employees to volunteer with paid time off. This effort aligns with Tanger's commitment to civic engagement, including a recent partnership with HeadCount to facilitate voter registration at its locations. Tanger emphasizes the importance of voting and civic participation ahead of the November election.

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Tanger Factory Outlet Centers, Inc. (NYSE: SKT) has appointed Leslie Swanson as Executive Vice President of Operations, effective immediately. Swanson will oversee Tanger's outlet portfolio, enhancing operational strategies and driving revenue opportunities. Reporting directly to Stephen Yalof, President and COO, she brings over 25 years of experience in shopping center management, notably achieving eight consecutive years of NOI growth at Simon Premium Outlets. Swanson expressed excitement about leveraging her expertise to foster growth and operational efficiencies at Tanger.

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On September 30, 2020, Tanger Factory Outlet Centers (NYSE: SKT) launched its 27th annual Tanger Pink campaign to support breast cancer research. Running from October 1 to 31, the campaign offers shoppers a digital Pink Savings card providing 25% off at participating stores. Proceeds will benefit the Breast Cancer Research Foundation and local organizations. In 2019, Tanger raised $935,000 for breast cancer research. The campaign aims to provide a safe shopping experience amid COVID-19, including the option for a virtual 5K race during the week of October 11.

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Tanger Factory Outlet Centers, Inc. (NYSE: SKT) will release its financial results for Q3 2020 on November 5, 2020, after market close. A conference call for analysts and investors will be held on November 6, 2020, at 8:30 a.m. ET. Listeners can access the call by dialing 1-844-492-3729 or via a live audio webcast on Tanger's Investor Relations website. A replay of the call will be available from November 6 to November 20, 2020.

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Tanger Factory Outlet Centers, Inc. (NYSE: SKT) reported positive developments in liquidity and operations as of August. The company generated positive cash flow, fully repaid its unsecured credit lines, and maintained a liquidity of approximately $606.6 million. Rent collections improved to 85% of billed rents, up from 81% in July. Occupancy stood at 93.7%, with traffic averaging 89% of prior year levels. Tanger will participate in the Bank of America Securities Real Estate Virtual Conference on September 15-16, 2020.

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Tanger Factory Outlet Centers (NYSE: SKT) will close on Thanksgiving Day 2020 amid the COVID-19 pandemic, prioritizing the well-being of shoppers and employees. Beginning November 1, Tanger will enhance holiday shopping experiences with special sales and extended hours. The company aims to provide a safe shopping environment through in-person, curbside pickup, and a Virtual Shopper Concierge service. With over 39 years in the outlet industry, Tanger operates 38 centers across 20 states and Canada, renting about 14.1 million square feet to over 2,700 stores.

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Tanger Factory Outlet Centers (NYSE:SKT) has announced a partnership with HeadCount to enhance voter registration among young people. On September 5, Tanger will host voter registration stations at 24 locations across the U.S., transforming its shopping centers into civic engagement hubs amidst the COVID-19 pandemic. Stephen Yalof, COO, emphasized the importance of supporting democracy by facilitating a seamless registration process outdoors. HeadCount, known for its grassroots efforts, aims to engage potential voters ahead of the November election.

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Tanger Factory Outlet Centers (NYSE: SKT) announced its financial results for Q2 2020, reporting a net loss of $0.25 per share, a stark contrast to net income of $0.15 per share in Q2 2019. The pandemic significantly impacted operations, with rent collections improving in July. Tanger maintains a strong liquidity position with over $564 million available. Despite challenges, occupancy stands at 93.8%, and management is optimistic about new tenants and innovative offerings like the Tanger Virtual Shopperâ„¢. The company has temporarily suspended dividends to conserve cash during this period.

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FAQ

What is the current stock price of Tanger (SKT)?

The current stock price of Tanger (SKT) is $32.416 as of October 31, 2024.

What is the market cap of Tanger (SKT)?

The market cap of Tanger (SKT) is approximately 3.6B.

What is Tanger Inc. (NYSE: SKT)?

Tanger Inc. is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries.

Where is Tanger Inc. headquartered?

Tanger Inc. is headquartered in Greensboro, North Carolina.

How many outlet centers does Tanger own and operate?

Tanger owns and operates 38 outlet centers, one adjacent managed center, and one open-air lifestyle center across 20 U.S. states and Canada.

What is the significance of Tanger Outlet Centers?

Tanger Outlet Centers attract over 180 million shoppers annually, offering the latest fashion trends from top brand names and significant savings by purchasing directly from manufacturers.

Is Tanger Inc. a publicly traded company?

Yes, Tanger Inc. has been a publicly traded Real Estate Investment Trust (REIT) since 1993.

What recent achievements has Tanger Inc. made?

Recent achievements include amending and extending its unsecured lines of credit, winning the 2024 Nareit Investor CARE Gold Award, and reporting strong financial results for the first quarter of 2024.

What is Tanger's strategy for future growth?

Tanger's strategy focuses on portfolio enhancement, tenant diversification, and innovative retail experiences to drive long-term growth and value creation.

How can I access Tanger Inc.'s financial reports?

Tanger Inc.'s financial reports can be accessed through their Investor Relations website at investors.tanger.com.

Does Tanger offer career opportunities?

Yes, Tanger offers career opportunities. For more information, visit the careers page at http://www.tangeroutlet.com/company/careers.aspx.

How can I contact Tanger Inc.'s investor relations?

You can contact Tanger Inc.'s investor relations by emailing Doug McDonald, SVP, Treasurer and Investments, at TangerIR@tanger.com or calling (336) 856-6066.

Tanger Inc.

NYSE:SKT

SKT Rankings

SKT Stock Data

3.63B
109.35M
2.42%
88.16%
3.93%
REIT - Retail
Real Estate Investment Trusts
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United States of America
GREENSBORO