TANGER INC. Stock Price, News & Analysis

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) has appointed Sandeep Mathrani to its Board of Directors, effective immediately. Mathrani, the current CEO of WeWork, has over 30 years of experience, including leadership roles at Brookfield Properties and GGP Inc. He is recognized for executing a strategic turnaround at WeWork and was instrumental in GGP’s successful growth and acquisition. Tanger's President Stephen Yalof anticipates Mathrani will enhance the Board's talent, aligning with the company's growth and development goals in the retail real estate sector.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) has announced that its President and CEO, Stephen J. Yalof, will present at the Nareit REITweek 2021 Virtual Investor Conference on June 9, 2021, at 10:15 am EDT. Registration for the conference is free and can be accessed through the provided link. Tanger currently operates 36 outlet centers across 20 states and Canada, totaling approximately 13.6 million square feet with over 2,500 stores from more than 500 brands.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announced the appointment of Steve Dworkin as Senior Vice President of Real Estate and Steven Silverstein as Assistant Vice President of Leasing. Dworkin brings over 20 years of experience in real estate development while Silverstein contributes over 30 years in leasing strategies. Their roles aim to enhance Tanger's growth, improve tenant prospecting, and strengthen the company’s competitive position in the outlet industry. The leadership changes are expected to deliver concrete results and drive future success.

Tanger Factory Outlet Centers (NYSE: SKT) reported Q1 2021 results, showing promising recovery with traffic reaching 97% of 2019 levels. Net income was $3.9 million ($0.04/share), a significant improvement from a net loss of $27.4 million last year. However, Funds From Operations (FFO) fell to $0.38 per share from $0.50. The occupancy rate remained stable at 91.7%, but blended rental rates declined by 2.8% on a straight-line basis. The company raised nearly $130 million through equity issuance and reduced debt by $175 million, enhancing liquidity. A dividend of $0.1775 per share was declared for May 2021.

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) announced a cash dividend of $0.1775 per share, payable on May 14, 2021, to shareholders on record as of April 30, 2021.

The company operates 36 outlet centers across 20 states and Canada, leasing approximately 13.6 million square feet to over 2,500 stores. With more than 40 years in the outlet industry, Tanger is a publicly traded REIT.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) reported selling 6.9 million shares of common stock through its ATM program at an average price of $19.02, raising $130.6 million in gross proceeds. As of March 30, 2021, the company boasts a liquidity exceeding $790 million. Tanger plans to use the proceeds to redeem $150 million of its 3.875% senior notes due December 2023 and has already paid down $25 million of a $350 million loan. The expected charge for the redemption is approximately $14.1 million.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) has launched its spring collections, showcasing a trendy lineup of products from renowned brands like Rag & Bone and Polo Ralph Lauren. The TangerSTYLE Sales Event runs until April 25 and offers shoppers a 25% discount through tangeroutlet.com. Chief Marketing Officer Carrie Warren stated that the collection caters to evolving customer demands post-pandemic, emphasizing comfort and style. Shoppers can enjoy in-person experiences or utilize the Tanger Virtual Shopper Program for remote shopping options.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) will release its financial results for the quarter ending March 31, 2021, on May 5, 2021, after market close. A conference call for analysts and investors is scheduled for May 6, 2021, at 8:30 a.m. Eastern Time. Interested parties can join the call by dialing 1-844-492-3729 or access a live webcast on the company's Investor Relations website. A replay of the call will be available until May 20, 2021.

Tanger Factory Outlet Centers (NYSE: SKT) will participate in the Citi Global Property CEO Conference from March 9-11, 2021. CEO Stephen J. Yalof will present on March 11 at 7:30 AM Eastern time. Interested parties can access a live audio webcast at investors.tangeroutlets.com. A replay will be available until March 19, 2021. Tanger operates 37 outlet centers across 20 states and Canada, totaling 13.7 million square feet and housing over 2,600 stores.