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.
Tanger Outlets announced the winners of its 2022 TangerKids Grants program, allocating $160,000 to classroom investments. Over half the funding supports teacher-led initiatives for underserved schools. Since its inception, the program has donated more than $3.1 million in grants. This year, Tanger included a Member Choice poll for TangerClub members to vote on grant recipients, resulting in additional funding for the top ten projects. The inaugural TangerKids Day on September 14 will feature events recognizing grant recipients and community participation.
Tanger Factory Outlet Centers (NYSE: SKT) reported significant leasing momentum with the addition of new brands to its portfolio, including Serena & Lily and Regatta Great Outdoors. This growth reflects a focus on innovative and digitally native labels, enhancing the shopping experience for customers. Tanger's strategy aims to maintain premier locations for accretive brands while exceeding pre-pandemic sales levels. The launch of Summersalt's pop-up shop showcases Tanger's commitment to diversifying offerings and enhancing digital marketing efforts.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) will release its financial results for the quarter ending September 30, 2022, on November 2, 2022, after market close. A conference call for analysts and investors is scheduled for November 3, 2022, at 8:30 a.m. ET, accessible by dialing 1-877-605-1702. A live audio webcast will be available on Tanger's Investor Relations website, and a telephone replay will be accessible until November 17, 2022. Tanger operates 37 outlet centers across 20 states and Canada, totaling approximately 14.0 million square feet with over 2,700 stores from 600+ brand companies.
Tanger Factory Outlet Centers (NYSE: SKT) has released its sixth annual Environmental, Social and Governance (ESG) Report, showcasing its commitment to integrating ESG principles into its operations. Key highlights include efforts to establish a diverse workforce, support small minority- and women-owned businesses, and enhance employee well-being through improved health benefits. Additionally, the company donated over $740,000 to community charities in 2021 and produced 6.2 million kilowatt hours of solar energy. The report underscores Tanger's dedication to responsible corporate citizenship and sustainable practices.
Tanger Factory Outlet Centers (NYSE:SKT) reported strong financial results for Q2 2022, with net income of $0.19 per share, improving from $0.02 per share a year prior. Funds From Operations (FFO) rose to $0.45 per share, up from $0.30, reflecting a successful leasing strategy and increased occupancy to 94.9%. The company raised its guidance for the year, estimating diluted net income between $0.71 and $0.77 per share and FFO between $1.73 and $1.79. Key developments include breaking ground on a 290,000 square foot center in Nashville, expected to yield 7.0%-7.5%, and a strategic partnership in Palm Beach.
Tanger Factory Outlet Centers (NYSE: SKT) announced a partnership with Clarion Partners for the Palm Beach Outlets, rebranding it as Tanger Outlets Palm Beach. The partnership enhances Tanger's management capabilities and is expected to significantly benefit local retail partners. Effective July 29, 2022, Tanger will oversee marketing, leasing, and property management of the 455,000 sq ft center, a popular shopping destination in South Florida attracting millions of visitors annually. This marks Tanger's 38th center and second in Florida, continuing its commitment to community engagement and strong operational strategies.
Tanger Factory Outlet Centers (NYSE:SKT) has declared a cash dividend of $0.20 per share. This dividend will be paid on August 15, 2022, to shareholders recorded as of July 29, 2022. The company operates 36 outlet centers across 20 states and Canada, totaling approximately 13.6 million square feet leased to over 2,600 stores. With over 41 years in the outlet industry, Tanger is well-established as a publicly-traded REIT.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) will release its financial results for Q2 2022 on August 8, 2022, after market close. A conference call for analysts and investors is scheduled for August 9, 2022, at 8:30 a.m. ET. Interested parties can access the call by dialing 1-877-605-1702 or via the company’s Investor Relations website. A replay will be available until August 23, 2022. Tanger operates a portfolio of 36 outlet centers across 20 states and Canada, totaling approximately 13.6 million square feet.
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