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. operates as a publicly traded REIT focused on outlet and open-air retail shopping destinations in the United States and Canada. Company news commonly covers portfolio leasing, tenant sales trends, remerchandising activity, occupancy drivers, and the performance of its outlet centers and open-air lifestyle centers.
Recurring updates also address quarterly operating results, same-center net operating income, dividend declarations, balance sheet capacity, unsecured financing activity, and capital allocation. Governance-related announcements include board leadership and transparency matters, reflecting Tanger’s status as a listed REIT with a portfolio of retail properties serving brand-name tenants and shoppers across tourist destinations and regional markets.
Tanger Factory Outlet Centers (NYSE: SKT) announced its Q3 financial results, showing a net loss of $0.11 per share amid strong leasing activity. Occupancy rose to 94.3%, with tenant sales reaching $448 per square foot, a 13% increase from 2019. The Company reported a Core FFO of $0.47 per share, up from $0.44 year-over-year. The balance sheet remains strong, with net debt to EBITDA at 5.3x. A dividend increase to $0.73 per share was also declared. However, a $33.8 million loss from early debt extinguishment affected profits.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announces the return of its Tanger Pink campaign aimed at combating breast cancer, contributing approximately $18 million since 1994. This initiative promotes early detection and provides support for women diagnosed with breast cancer. Throughout October, shoppers can donate to receive a Tanger Pink Card for 25% off at participating stores, benefitting the Breast Cancer Research Foundation. The company has donated about $4 million to BCRF and will continue to support breast cancer research through various programs.
Tanger Factory Outlet Centers (NYSE:SKT) announced a 2.8% increase in its annual dividend to $0.73 per share, up from $0.71. The quarterly cash dividend of $0.1825 per share is payable on November 15, 2021, to shareholders on record as of October 29, 2021. Tanger operates upscale open-air outlet centers, with 36 properties across 20 states and Canada, totaling approximately 13.6 million square feet and hosting over 2,500 stores.
Tanger Factory Outlet Centers (NYSE: SKT) will participate in the BofA Securities 2021 Global Real Estate Conference on September 21, 2021. The presentation by President and CEO Stephen Yalof is set for 10:30 AM Eastern Time. Interested parties can tune in via a live audio webcast at investors.tangeroutlets.com. A replay will be available until September 30, 2021.
Tanger operates 36 outlet centers across 20 states and Canada, encompassing approximately 13.6 million square feet and over 2,500 stores from more than 500 brands.
Tanger Factory Outlet Centers (NYSE: SKT) will announce its financial results for the quarter ended September 30, 2021, on November 1, 2021, post-market. A conference call for analysts and investors is scheduled for November 2, 2021, at 8:00 a.m. ET. Interested participants can join the call by dialing 1-877-605-1702, and a live audio webcast will be available on the company's Investor Relations website. A replay will also be accessible from November 2 until November 16, 2021.
Tanger Factory Outlet Centers (NYSE: SKT) released its fifth annual Environmental, Social and Governance (ESG) Report on August 31, 2021, highlighting key corporate responsibility initiatives and the company's pandemic response. Highlights include the formation of a Diversity, Equity, and Inclusion Council, energy reduction via LED lighting adoption in over 85% of its centers, and community engagement through partnerships with nonprofits. Additionally, Tanger provided support to employees during COVID-19, avoiding layoffs, and offered flexible shopping options to customers.
Tanger Factory Outlet Centers (NYSE: SKT) announced the appointment of Virginie Julie Schena as SVP, People and Culture. She brings over 20 years of experience and will report to Chad Perry, the Executive VP. Schena aims to enhance workplace diversity and foster a commitment to innovation and teamwork. Previously, she managed 26 operational sites across 17 states and Canada with Merlin Entertainments. Her role is pivotal to strengthening Tanger's reputation as a top employer and enhancing customer experience.
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Tanger Factory Outlet Centers, Inc. (NYSE: SKT) has completed a public offering of $400 million in senior notes due 2031, yielding 2.917% to maturity. The net proceeds of approximately $390.7 million will be used to redeem existing senior notes due 2023 and 2024, totaling $350 million. The company anticipates a $34.4 million charge in Q3 2021, impacting net income and FFO by $0.32 per share, although expected to stabilize Core FFO. The transaction extends the average debt maturity from 4.2 years to 6.1 years and reduces the effective interest rate from 3.3% to 3.0%.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announced the pricing of $400 million in 2.75% senior notes due 2031, expected to close on August 10, 2021. The notes, priced at 98.552%, will yield 2.917% at maturity and pay interest semi-annually. Net proceeds of approximately $390.3 million will be used to redeem existing 3.875% senior notes due 2023 and 3.75% senior notes due 2024, totaling $350 million, with any remaining funds allocated for general corporate purposes.