Tanger Factory Outlet Centers (SKT) Stock

Stephen Yalof, Tanger CEO, talks the state of retail and the consumer ahead of the holidays.

Tanger (SKT) came out with quarterly funds from operations (FFO) of $0.54 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to FFO of $0.50 per share a year ago.

Does Tanger (SKT) have what it takes to be a top stock pick for momentum investors? Let's find out.

GREENSBORO, N.C. , Sept. 23, 2024 /PRNewswire/ -- Tanger® (NYSE: SKT), a leading operator of outlet and open-air retail shopping destinations, announced today that the company's board of directors has elected Sonia Syngal as a director of the company, effective September 23, 2024.

Tanger stands out due to its diversified portfolio, strong leasing spread growth, and attractive valuation. The REIT's efficient management and short-term leases offer significant growth potential for the dividend and price. Despite above-average leverage, Tanger maintains strong liquidity. With a high dividend coverage and still attractively priced shares, both dividend and value investors should consider the merits of this REIT.

Tanger Inc. is a growing REIT with strong FFO growth, paying out only 50% of its funds from operations, indicating dividend safety and potential hikes. Tanger's portfolio boasts high occupancy rates (97.1%) and robust leasing metrics, attracting major tenants like Nike and Under Armour. Despite pandemic setbacks, Tanger has restored occupancy and reinstated dividends, with expectations for continued dividend increases due to low payout ratios.

Stephen Yalof, Tangler Outlet CEO, joins CNBC's 'The Exchange' to discuss outlooks on the consumer, why Tangler has seen success during consumer pullbacks, and more.

Tanger boasts a strong portfolio of strategically located open-air outlet centers, demonstrating resilience with high occupancy rates and robust same-store NOI growth. SKT's simple, low-maintenance business model and proactive tenant management contribute to its profitability and stability. The stock offers a well-covered 3.6% dividend yield, with a payout ratio of 51%, and potential for future growth and dividend increases.

Tanger Inc. (NYSE:SKT ) Q2 2024 Earnings Call Transcript August 2, 2024 8:30 AM ET Company Participants Ashley Curtis - Assistant VP of IR Stephen Yalof - President and CEO Michael Bilerman - CFO and CIO Conference Call Participants Andrew Reale - Bank of America Floris van Dijkum - Compass Point Todd Thomas - KeyBanc Capital Markets Craig Mailman - Citigroup Greg McGinniss - Scotiabank Samir Khanal - Evercore ISI Caitlin Burrows - Goldman Sachs Mike Mueller - JPMorgan Operator Good morning. I'm Ashley Curtis, Assistant Vice President of Investor Relations, and I would like to welcome you to Tanger Inc's Second Quarter 2024 Conference Call.