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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.
Tanger Factory Outlet Centers (NYSE: SKT) is enhancing its shopping experience by introducing partnerships with popular food and entertainment brands, including Shake Shack and Dave & Buster's. This summer, Shake Shack will debut in San Marcos, Texas, offering a menu of elevated American classics. In fall, Dave & Buster's will expand its presence in Savannah, Georgia, and Atlantic City, New Jersey. These strategic partnerships are part of Tanger's initiative to diversify its offerings, focusing on non-apparel categories to attract more visitors and improve customer loyalty. With 36 centers across the U.S. and Canada, Tanger aims to redefine outlet shopping by creating engaging environments for families.
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) has announced an 11.4% increase in its annual dividend, raising it from $0.88 to $0.98 per share. The Board also declared a quarterly cash dividend of $0.245 per share, payable on May 15, 2023, to shareholders on record by April 28, 2023. CEO Stephen Yalof emphasized the company's commitment to returning capital to shareholders, highlighting that this increase follows two previous annual increases in 2022, representing a cumulative growth of over 20%. The company maintains a strong balance sheet and liquidity to support its long-term growth strategies.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) will release its financial results for Q1 2023 on April 27, 2023, post-market close. The company will also conduct a conference call on April 28, 2023, at 8:00 a.m. ET for analysts and investors. Interested parties can access the call by dialing 1-877-605-1702 or through a live audio webcast on the company’s investor relations website. A replay of the call will be available until May 12, 2023, with further details available in the press release.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) will participate in Citi's 2023 Global Property CEO Conference from March 5 to March 8, 2023. The company will host a tour of Tanger Outlets Palm Beach on March 5. Stephen Yalof, President and CEO, along with Michael Bilerman, CFO, will engage in a round table presentation on March 7 at 5:00 p.m. ET. An audio webcast of the presentation is available at investors.tangeroutlets.com, with a replay accessible until March 17, 2023.
Tanger operates 36 outlet centers across 20 states and Canada, totaling 13.9 million square feet leased to over 2,700 stores.
SK Telecom (NYC: SKM) held a press conference on Feb. 26, 2023, in Barcelona, outlining its vision for 'AI to Everywhere' across five key areas: Customer & Technology, Time & Space, AI Transformation (AIX) for Industries, Core Business Model, and ESG. CEO Ryu highlighted the success of their AI service 'A.', achieving 1 million subscribers in 9 months, and plans to expand features from 30 to 100. Additionally, SKT is advancing urban air mobility, autonomous driving, and its metaverse service 'ifland,' which boasts 4 million monthly active users. They aim to drive AI innovations in various industries while enhancing subscriber experience through personalized services.
Guerrilla RF, Inc. (OTCQX: GUER) has appointed Virginia R. Summerell to its Board of Directors effective February 20, 2023. Summerell, the second female board member, brings over 30 years of finance and corporate leadership experience, particularly from her tenure at Tanger Outlet Centers, Inc. (NYSE: SKT). Her expertise in guiding Tanger's transformation to a publicly traded entity will be leveraged as Guerrilla RF prepares to uplist to a senior stock exchange. This strategic appointment supports Guerrilla RF's growth strategy in high-growth markets like wireless and automotive sectors.
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) reported strong financial results for Q4 and full-year 2022. Net income reached $0.17 per share, driven by a $3.2 million gain from selling a non-core outlet center. FFO and Core FFO were $0.47 and $1.83 per share, respectively, reflecting significant year-over-year increases. Occupancy rose to 97% and blended rent spreads improved to 10.1%. The company anticipates continued growth in 2023, projecting net income per share between $0.87 and $0.95. Upcoming developments include a new center in Nashville, set to open in fall 2023, highlighting Tanger's growth strategy.
On February 18, 2023, SK Telecom (NYSE:SKM, SKT) announced its participation in MWC Barcelona 2023 from February 27 to March 2. The company will showcase advancements in AI technologies, including the large language model 'A.', 'Vision AI', and 'SAPEON' AI semiconductors. SKT aims to highlight its evolution into an AI company and enhance global partnerships, with CEO Ryu Young-sang promoting collaborations in AI, metaverse, and telecommunications. The event will feature a life-scale UAM aircraft simulator and next-generation 6G technologies, emphasizing SKT's commitment to innovation and global market expansion.
Tanger Factory Outlet Centers (NYSE: SKT) announced significant sustainability achievements for 2022, advancing its commitment to becoming carbon neutral by 2050. Highlights include investment in renewable energy with the installation of 6.2 MW of solar panels across multiple centers, the addition of 165 electric vehicle charging stations, and progress towards electrifying its operational fleet by 2030. The company also achieved LEED Gold certification for over 50% of its properties and received the WELL Health-Safety Rating for all U.S. centers. These initiatives aim to enhance environmental responsibility and health and safety across its operations.
Tanger Factory Outlet Centers (NYSE:SKT) announced that its 2022 dividend distributions will be classified as ordinary income for tax purposes. Shareholders are advised to consult personal tax advisors regarding the tax treatment of these dividends. The total distributions per share for 2022 include amounts of $0.1825, $0.2000, $0.2000, and $0.2200, leading to a total distribution of $0.8025. All distributions are considered 100% ordinary income. Important dates include record dates from January 31 to October 31, 2022, and payable dates from February 15 to November 15, 2022.
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