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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.

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Tanger (NYSE: SKT), a prominent owner and operator of outlet and open-air retail shopping destinations, has announced a quarterly cash dividend of $0.275 per share. This dividend will be payable on November 15, 2024 to common shareholders of record as of October 31, 2024. The announcement comes from the company's Board of Directors, demonstrating Tanger's commitment to providing returns to its shareholders.

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Tanger (NYSE: SKT), a leading operator of outlet and open-air retail shopping destinations, has elected Sonia Syngal to its board of directors, effective September 23, 2024. This expands the board from nine to ten members. Syngal, the former CEO of Gap Inc., brings nearly 30 years of industry experience in global supply chain operations, brand management, and product-to-market innovation.

As CEO of Gap Inc. from 2020 to 2022, Syngal led the company through challenging times, financially stabilizing it and doubling e-commerce revenue. She previously served as CEO of Old Navy, leading its strategic turnaround. Syngal's expertise is expected to strengthen Tanger's board capabilities, particularly in implementing business strategies, omni-channel growth, and change management.

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Tanger (NYSE: SKT), a leading owner and operator of outlet and open-air retail shopping destinations, has announced the schedule for its third quarter 2024 earnings release and conference call. The company will release its financial results for the quarter ended September 30, 2024, on Wednesday, November 6, 2024, after the market close. Tanger will host a conference call for analysts, investors, and other interested parties on Thursday, November 7, 2024, at 8:30 a.m. Eastern Time.

To participate in the conference call, listeners can dial 1-877-605-1702. A live audio webcast will also be available on Tanger's Investor Relations website. A telephone replay of the call will be accessible from November 7, 2024, at 11:30 a.m. Eastern Time through November 21, 2024, by dialing 1-877-660-6853 with replay access code #13748540. An online archive of the webcast will be available until November 21, 2024.

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Tanger (NYSE:SKT), a leading outlet and open-air retail shopping center operator, reported strong Q2 2024 results and raised full-year guidance. Key highlights include:

- Net income of $0.22 per share ($24.6 million)
- FFO of $0.53 per share ($60.9 million), up from $0.47 in Q2 2023
- Same Center NOI increased 8.0% to $89.6 million
- Occupancy stable at 96.5%, with 97.1% on a same-center basis
- Average tenant sales per square foot of $439 for trailing 12 months
- Positive blended average rental rates of 15.1% for comparable space
- Increased full-year 2024 FFO guidance to $2.04-$2.11 per share

Tanger continues to execute its strategic plan, focusing on tenant diversification and re-merchandising. The company's strong balance sheet, with no significant debt maturities until late 2026, provides flexibility for future growth opportunities.

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SK Telecom (NYSE: SKM) has signed agreements to supply its AI-based veterinary diagnosis assistant, 'X Caliber', to Malaysia, Thailand, and Vietnam. The company partnered with My Vet Care in Malaysia, Happy Pet Hospital in Thailand, and Vet Sky Holdings in Vietnam to introduce the service. X Caliber aims to enhance pet disease diagnosis and promote efficient pet diagnostics in these rapidly growing markets. The Southeast Asian pet market was estimated at USD 3.3 billion in 2023, with a compound annual growth rate of 13% over the past five years. SK Telecom's expansion into these markets demonstrates its commitment to innovating pet care and promoting South Korea's AI technology globally.

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Tanger (NYSE: SKT), a prominent owner and operator of outlet and open-air retail shopping destinations, has announced a quarterly cash dividend of $0.275 per share. The dividend is payable on August 15, 2024 to common shareholders of record on July 31, 2024. This announcement demonstrates Tanger's commitment to providing regular returns to its shareholders, reflecting the company's financial stability and confidence in its business model. The consistent dividend payout may attract income-focused investors and potentially support the stock's value.

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Tanger (NYSE: SKT), a leading owner and operator of outlet and open-air retail shopping destinations, has been honored with the 2024 Nareit Investor CARE Gold Award for Excellence in Communications and Reporting.

The award, announced at the REITweek 2024 Investor Conference, recognizes Tanger's outstanding communication and reporting practices. An independent panel judged the company based on its online presence, SEC filings, and investor relations.

Stephen Yalof, CEO of Tanger, expressed pride in their investor engagement program and highlighted the company's commitment to transparency, accessibility, and delivering top-tier shareholder returns.

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Tanger (NYSE: SKT) has announced its expanded partnership with Sephora, adding five new stores in its shopping centers by the end of the year. These stores will be located in Charleston, S.C.; Deer Park, N.Y.; National Harbor, Md.; Palm Beach, Fla.; and Phoenix/Glendale, Ariz., each averaging 5,000 square feet. This expansion aligns with Tanger's strategy to diversify its portfolio beyond apparel and footwear, enhancing its beauty and wellness offerings to attract younger and more affluent shoppers. Tanger has leased nearly 200,000 square feet of new brands since January 2023, aiming to evolve its centers into multifaceted destinations.

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Tanger (NYSE: SKT) has published its 2023 Environmental, Social, and Governance (ESG) Report, highlighting significant achievements and future goals. In 2023, Tanger increased renewable energy production through onsite solar infrastructure, expanded biodiversity initiatives, and introduced electric vehicle charging at over 90% of its centers. The company launched Employee Resource Groups focusing on Women, LGBTQ+, and People of Color. Additionally, $138,000 was raised for breast cancer awareness and $170,000 for local schools. Governance improvements included increased female executive representation and enhanced investment community engagement. Tanger aims for net zero carbon emissions by 2050 and plans for a detailed roadmap in 2024. The full report aligns with leading sustainability frameworks and is available on their investor relations website.

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SK Telecom (NYSE:SKM) has launched its AI-powered veterinary diagnostic service, X Caliber, in Australia in collaboration with ATX Medical Solutions. X Caliber can analyze X-ray images of pets within 15 seconds and does not require local server installation. The service boasts a sensitivity of 86-94% across various types of X-rays. The launch follows successful beta tests and will be available to over 100 veterinary clinics in Australia. Additionally, SK Telecom has signed a commercial contract with MEDIVET Pet Hospital & Clinic in Indonesia to introduce X Caliber. SK Telecom is also providing beta services in North America, Europe, and Asia, aiming for a global market expansion.

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FAQ

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

The current stock price of Tanger (SKT) is $32.416 as of October 31, 2024.

What is the market cap of Tanger (SKT)?

The market cap of Tanger (SKT) is approximately 3.6B.

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.

Tanger Inc.

NYSE:SKT

SKT Rankings

SKT Stock Data

3.63B
109.35M
2.42%
88.16%
3.93%
REIT - Retail
Real Estate Investment Trusts
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United States of America
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