TANGER INC. - SKT STOCK NEWS

Tanger (NYSE: SKT), a leading outlet and open-air retail shopping destinations operator, has announced a 6.4% dividend increase from $1.10 to $1.17 per share annually. The company declared a quarterly cash dividend of $0.2925 per share, which will be paid on May 15, 2025, to shareholders of record as of April 30, 2025.

CEO Stephen Yalof highlighted that this increase is supported by Tanger's well-positioned balance sheet, low dividend payout ratio, and strong operating platform.

Tanger (NYSE: SKT), a leading outlet and open-air retail shopping destinations operator, has scheduled its first quarter 2025 earnings release for Wednesday, April 30, 2025 after market close. The company will hold its conference call on Thursday, May 1, 2025 at 8:30 a.m. Eastern Time.

Analysts, investors, and interested parties can access the call by dialing 1-877-605-1702. A live audio webcast will be available on Tanger's Investor Relations website. A telephone replay will be accessible from May 1 at 11:30 a.m. through May 15, 2025, via 1-877-660-6853 (replay code #13752440). The webcast archive will remain available until May 15, 2025.

Tanger (NYSE: SKT), a prominent outlet and open-air retail shopping destination operator, has announced its participation in Citi's 2025 Global Property CEO Conference from March 3-5, 2025. The company's leadership, including President and CEO Stephen Yalof and EVP, CFO, and CIO Michael Bilerman, will deliver a roundtable presentation on March 3 at 9:35 a.m. Eastern Time.

The presentation will be accessible via live audio webcast on investors.tanger.com, with a replay available through March 14, 2025. Tanger, a publicly traded REIT since 1993, manages a portfolio of 38 outlet centers, one adjacent managed center, and three open-air lifestyle centers, encompassing over 16 million square feet across 21 U.S. states and Canada. The company's properties house more than 3,000 stores operated by over 700 different brand name companies.

Tanger (NYSE:SKT), a leading owner and operator of outlet and open-air retail shopping destinations, reported strong financial results for Q4 and the full year ending December 31, 2024. Net income available to common shareholders was $0.23 per share for Q4, up from $0.22 per share in the prior year, and $0.88 per share for the full year, down from $0.92 per share in the prior year. Funds From Operations (FFO) was $0.54 per share for Q4 and $2.12 per share for the full year, showing growth from $0.52 and $1.96 per share respectively. Core FFO was $0.54 per share for Q4 and $2.13 per share for the full year, up from $0.52 and $1.96 per share respectively.

Key portfolio metrics include a 98.0% occupancy rate at year-end, up from 97.3% the previous year. Same Center NOI increased by 3.0% in Q4 and 5.1% for the full year. Average tenant sales per square foot also rose to $444. Tanger acquired two shopping centers: The Promenade at Chenal for $73.1 million and Pinecrest for $167.0 million, both expected to deliver an 8% return in the first year.

During Q4, Tanger sold 2.6 million common shares generating $90.9 million. The company also entered into forward sale agreements for 1.9 million shares, with gross proceeds of $69.7 million. As of December 31, 2024, net debt to Adjusted EBITDAre was 4.8x, and the interest coverage ratio was 4.6x. Cash and cash equivalents totaled $55.7 million with full availability on the $620.0 million unsecured lines of credit.

For 2025, Tanger's guidance estimates net income and FFO per share to reflect the recent acquisition of Pinecrest and other market conditions. The board authorized a quarterly cash dividend of $0.275 per share, payable on February 14, 2025.

Tanger (NYSE: SKT) has acquired Pinecrest, a 640,000-square-foot open-air, mixed-use center in Cleveland, Ohio, for approximately $167 million. The acquisition was funded using cash on hand and available liquidity, with management estimating an 8% return in the first year.

Pinecrest, opened in 2018, is anchored by Whole Foods Market and features a mix of national retailers including Alo Yoga, UNTUCKit, Madewell, Sephora, Nike, and others. The property includes retail, dining, entertainment, residential, and office components, with an AC Hotel under separate ownership.

This marks Tanger's third full-price, market-dominant shopping center acquisition, following The Promenade at Chenal in Little Rock and Bridge Street Town Centre in Huntsville. Located in Cleveland's affluent eastern corridor, Pinecrest serves as the sole market presence for many popular brands in the region.

Tanger Inc. (NYSE: SKT) has released its 2024 tax reporting information for dividend distributions. The company's dividend distributions for tax purposes should be treated as 99.29% ordinary income and 0.71% capital gain distribution.

The total distribution per share for 2024 amounts to $1.085, distributed across four payments: $0.26 (February), $0.275 (May), $0.275 (August), and $0.275 (November). Of the total distribution, $1.077334 qualifies as ordinary dividends (Box 1a) and $0.007666 as capital gain distributions (Box 2a). The Section 199A dividends amount matches the ordinary dividends at $1.077334.

Tanger (NYSE: SKT), which operates outlet and open-air retail shopping destinations, has announced a quarterly cash dividend of $0.275 per share. The dividend will be paid on February 14, 2025, to shareholders who are on record as of January 31, 2025.

Tanger (NYSE: SKT), a leading owner and operator of outlet and open-air retail shopping destinations, has announced the schedule for its fourth quarter and full year 2024 financial results release. The earnings report will be released on Wednesday, February 19, 2025, after market close.

The company will host a conference call for analysts, investors, and interested parties on Thursday, February 20, 2025, at 8:30 a.m. Eastern Time. Participants can access the call by dialing 1-877-605-1702. A live audio webcast will be available on Tanger's Investor Relations website. A telephone replay will be accessible from February 20 at 11:30 a.m. until March 6, 2025, using replay code #13750572.

Tanger (NYSE: SKT) has acquired The Promenade at Chenal, a 270,000-square-foot upscale, open-air lifestyle shopping center in Little Rock, Arkansas, for approximately $73 million. This marks Tanger's first location in Arkansas and second full-price, open-air lifestyle center following the Bridge Street Town Centre acquisition in Huntsville.

The center features exclusive national brands including Apple, Anthropologie, and Urban Outfitters - the only locations in Arkansas. Other notable tenants include Lululemon, Sephora, Athleta, and an AMC IMAX Theatre. Management estimates an 8% return in the first year, with potential for additional growth. The property is located in the affluent Chenal Valley neighborhood, benefiting from the area's continued densification since 2020.