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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

SKT, Iceotope and SK Enmove Join Forces for AI Data Center Innovation

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SK Telecom (SKM) partners with Iceotope Technologies and SK Enmove to develop energy-efficient liquid cooling solutions for AI data centers. The collaboration aims to reduce power consumption in data centers by deploying Precision Liquid Cooling technology.
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Tanger to Present at Citi's 2024 Global Property CEO Conference

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Tanger (SKT) to participate in Citi's 2024 Global Property CEO Conference. Key executives to present at a round table discussion. Live webcast and replay details provided.
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SKT, Deutsche Telekom, e&, Singtel, and SoftBank Corp. Announce Plan to Establish a Joint Venture

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SK Telecom (SKM) and other leading telecommunications companies announce the establishment of a joint venture to develop Large Language Models (LLMs) for telcos. The goal is to enhance customer interactions through digital assistants and chatbots, targeting a global customer base of 1.3 billion across 50 countries.
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Tanger Reports Fourth Quarter and Full Year 2023 Results and Introduces 2024 Guidance

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Tanger reported strong financial results with an 8th consecutive quarter of positive rent spreads. The company expanded its portfolio by adding three new centers, achieving record leasing activity. Despite a slight decrease in occupancy, key metrics like Same Center NOI and average tenant sales remained robust. The company's balance sheet is well-positioned for growth, with a focus on enhancing shareholder value. Tanger's guidance for 2024 shows confidence in continued performance and strategic growth.
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Tanger Inc. 2023 Tax Reporting Information - Distribution (Form 1099)

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Tanger Inc. (NYSE: SKT) has announced the treatment of its 2023 dividend distributions for income tax purposes. 87.26% of the common shares are classified as ordinary income, and 12.74% as a return of capital. The detailed information for each distribution is provided, including the record date, ex-dividend date, payable date, and total distribution per share. Shareholders are advised to consult their tax advisors for specific treatment.
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Tanger Declares Dividend Payable February 15, 2024

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Tanger® (NYSE: SKT) has declared a quarterly cash dividend of $0.26 per share, payable on February 15, 2024, to common shareholders of record on January 31, 2024.
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Tanger Schedules Fourth Quarter and Full Year 2023 Earnings Release and Conference Call

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Tanger (NYSE: SKT) to Release Financial Results for Q4 and Full Year 2023 on February 15, 2024
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Tanger Acquires Open-Air Lifestyle Center in Growth Market of Huntsville, Alabama

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Tanger (NYSE: SKT) acquires Bridge Street Town Centre, an 825,000‑square-foot open-air lifestyle center in Huntsville, Alabama, for $193.5 million. The center comprises over 80 retail stores, restaurants, and entertainment venues and serves as the dominant shopping destination in the market. Tanger funded the acquisition through cash on hand and available liquidity, expecting a mid-eight percent return in the first year.
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Tanger Announces Acquisition of Asheville Outlets in Asheville, North Carolina

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Tanger® (NYSE: SKT) Acquires Asheville Outlets for $70 Million, Continues External Growth Strategy. The 382,000-square-foot open-air shopping center in Asheville, North Carolina, is the second fully owned addition to Tanger's outlet portfolio this quarter. The center is currently 95 percent occupied and includes top apparel and footwear brands, as well as national home furnishings providers. Tanger expects a mid-eight percent range first-year return with potential for additional growth. Asheville Outlets benefits from proximity to top attractions and a rapidly growing residential population. Tanger will transition the center to become Tanger Outlets Asheville in early January 2024.
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Tanger Reports Third Quarter Results and Raises Full-Year 2023 Guidance

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Tanger, a leading owner and operator of upscale open-air outlet centers, reported financial results for Q3 2023. The company achieved an 80 basis point sequential increase and a 150 basis point year-over-year increase in occupancy. It also reported its 7th consecutive quarter of positive rent spreads. Tanger Outlets Nashville opened at 96.5% leased. Net income available to common shareholders was $0.26 per share, or $27.2 million, compared to $0.22 per share, or $23.0 million, for the prior year period. FFO available to common shareholders was $0.50 per share, or $55.8 million, compared to $0.47 per share, or $51.7 million, for the prior year period. Tanger increased its full-year 2023 earnings guidance and announced a 6.1% increase in its dividend.
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FAQ

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

The current stock price of Tanger (SKT) is $36.67 as of November 21, 2024.

What is the market cap of Tanger (SKT)?

The market cap of Tanger (SKT) is approximately 4.0B.

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.

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Tanger Inc.

NYSE:SKT

SKT Rankings

#1450 Ranked by Market Cap
#1027 Ranked by Dividends

SKT Stock Data

4.00B
108.08M
2.34%
89.18%
3.47%
REIT - Retail
Real Estate Investment Trusts
Link
United States of America
GREENSBORO