SKT
Tanger Inc.33.87
-0.13-0.38%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
3.90BP/E (TTM)
36.03Basic EPS (TTM)
0.94Dividend Yield
0.03%Recent Filings
8-K
Tanger boosts Q3 earnings, acquires center
Tanger Inc. reported Q3 2025 net income of $0.28 per share, up from $0.22, with FFO at $0.60 per share versus $0.54 last year; same-center NOI rose 4.0% to $102.3 million amid 97.6% occupancy and $472 sales per square foot. The company acquired Tanger Kansas City at Legends for $130 million in September, marking its sixth open-air addition in two years, while raising full-year FFO guidance to $2.28–$2.32 per share. Strong leasing spreads hit 10.6%, but integration costs loom.
10-Q
Q2 FY2025 results
Tanger Inc. posted solid Q2 FY2025 results, with total revenues up 9.1% y/y to $140.7M, driven by rental revenue growth of 9.1% y/y to $133.4M from higher occupancy and rental rates at existing centers, plus contributions from the Cleveland acquisition. Net income rose 20.9% y/y to $31.3M, or $0.26 diluted EPS, while operating cash flow for the half-year climbed 18.7% y/y to $123.4M; free cash flow not disclosed in the 10-Q. The $167M Cleveland open-air center buy in February added $127.5M to buildings and $17.9M in intangibles (amortized over 5-11 years), while the Howell sale in April fetched $16.6M net proceeds with no gain. Total debt stood at $1.53B, including $92M on lines with $528M available, and $9.7M cash. Yet, tariffs and trade tensions loom as a key risk from Risk Factors.
8-K
Tanger boosts Q2 earnings, guidance
Tanger Inc. reported Q2 2025 net income of $0.26 per share, up from $0.22 last year, with FFO at $0.58 per share versus $0.53. Same center NOI rose 5.3% to $101.7 million, fueled by 96.6% occupancy and 12.0% blended rent spreads on 2.8 million square feet leased. The company raised full-year FFO guidance to $2.24-$2.31 per share, reflecting robust leasing and marketing. Strong balance sheet supports growth, yet economic pressures loom.
8-K
Annual meeting and repurchase authorization
Tanger Inc. held its 2025 annual meeting on May 9, electing all nine director nominees with strong support, ratifying Deloitte & Touche as auditors, and approving executive compensation on an advisory basis. The board then authorized a $200 million share repurchase program, replacing the expiring $100 million plan. Repurchases will comply with securities rules. This signals confidence in the stock's value.
10-Q
Q1 FY2025 results
Tanger Inc. posted solid Q1 results with total revenues climbing 9.7% year-over-year to $135.4M, fueled by higher rental rates and the February acquisition of Cleveland's Pinecrest center for $167.0M in cash. Rental revenues rose 9.7% y/y to $129.3M, while net income dipped to $20.0M from $23.3M, pressured by a $4.2M impairment on the Howell, MI outlet sold in April for $17.0M and elevated interest costs from new swaps. Diluted EPS held steady at $0.17, aligning with 113.95M weighted shares. Operating cash flow strengthened 34% y/y to $41.4M, supporting $10.2M in capex, yet free cash flow sat at $31.1M after the buy. Debt climbed to $1.56B, with $139.0M drawn on $620.0M lines and $481.0M available, maintaining covenant compliance. Tariffs and trade frictions pose risks to tenant sales.
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