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, Inc. (NYSE:SKT) reported a net income of $2.3 million ($0.02 per share) for Q2 2021, compared to a net loss of $22.9 million in Q2 2020. Funds from Operations (FFO) increased to $32.4 million ($0.30 per share) from $10 million ($0.10 per share) in the prior year. The company recorded a 93.0% occupancy rate as of June 30, 2021, with tenant sales productivity rising to $424 per square foot, up 7.3% from 2019. The board declared a cash dividend of $0.1775 per share, payable on August 13, 2021.
Tanger Factory Outlet Centers (NYSE:SKT) announced the amendment and extension of its unsecured lines of credit, enhancing its financial flexibility. The maturity date has been pushed from October 2021 to July 2025, with an option for a one-year extension. The borrowing capacity is set at $520 million, with potential to increase to $1.22 billion with lender approval. Importantly, all financial covenants and pricing grids remain stable, and the agreement now includes sustainability metrics aimed at reducing interest rates as sustainability certifications improve.
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) has declared a cash dividend of $0.1775 per share, scheduled for payment on August 13, 2021. This dividend will benefit common shareholders on record as of July 30, 2021. Tanger, which operates upscale open-air outlet centers across 36 locations in 20 states and Canada, leases space to over 2,500 stores from more than 500 brands. The company's extensive experience in the outlet industry spans more than 40 years.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announced that it will release its financial results for the quarter ending June 30, 2021, on August 3, 2021, after market close. A conference call for analysts and investors will be held on August 4, 2021, at 8:30 a.m. ET. Listeners can join by dialing 1-844-492-3729. A live audio webcast will be available on Tanger's Investor Relations website, with a replay option following the call. Tanger operates 36 outlet centers across 20 states and Canada, totaling approximately 13.6 million square feet.
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.