The Company in a Nutshell
| Date Reviewed | 05/14/2026 |
| Company Name | Tanger Inc |
| Symbol | SKT |
| Sector | Real Estate |
| Industry | REIT - Retail |
| Beta | 1.12 |
| PRO Rating | 4 |
| Dividend Safety | 4 |
Business Model
Tanger Inc. is an owner and operator of outlet and open-air retail shopping destinations, with expertise in the retail and outlet shopping industries. The Company is a fully integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlets and other open-air retail centers. Its shopping centers and other assets are held by, and all its operations are conducted by Tanger Properties Limited Partnership and subsidiaries (Operating Partnership). The Company operates about 38 outlet centers, three open-air lifestyle centers comprising over 16 million square feet positioned across tourist destinations and markets in 21 United States (U.S.) states and Canada. It offers over 2,600 stores operated by more than 750 different brand name companies. Its consolidated outlet centers include Tanger Outlets Deer Park, Tanger Outlets Riverhead, Tanger Outlets Foley, Tanger Outlets Rehoboth Beach, and others.
| Current price | 35.65 |
| ROE | 16.75 % |
| ROIC | 0.00 % |
| Shareholder Yield | 0.35 % |
| 5-Yr Total Return | 169.05 % |
| 1-Yr Total Return | 19.05 % |
| Next Earnings Date | 08-03-26 |
Latest Quarter Information
What the CEO said:
Tanger’s successful execution of its growth strategy delivered another quarter of strong financial and operating results, contributing to an increase in our full-year guidance. Through our proven leasing, operating, and marketing platforms and underpinned by disciplined financial strategies, we continue to curate our merchandising, intensify our real estate, and execute our external growth initiatives. We achieved record leasing volume fueled by retailer demand and limited new supply. We are attracting new and younger shoppers by adding sought-after retailers, restaurants, and entertainment destinations that elevate our centers and drive incremental traffic and value.
What we say:
2026-05-14, SKT gave good results for 1Q'26, reporting ~11% YoY growth in EPS and revenue. The revenue mix was Rental revenue of $143.5M (+11% YoY), Management, leasing and other services of $2.2M, and Other revenue of $4.7M. Q1 occupancy improved to 97% vs 95.8% a year ago, and average tenant sales/ SF grew to $482 vs $455. Q1 FFO and Core FFO were both $0.59 vs $0.53 a year ago, up ~11%, benefiting from higher revenues and improved NOI. Same Center NOI grew 2.6% to $100.5M, and Portfolio NOI rose to $99M from $93.1M. SKT increased the annual dividend from $1.17 to $1.25/ share and repurchased $20M shares. FY26 outlook - net income: $1.05-$1.13 and FFO: $2.42-$2.50/ diluted share.
Investment Thesis
Dividend Triangle
| 5-Yr Rev. Growth | 6.90 % |
| 5-Yr EPS Growth | 37.05 % |
| 5-Yr Div Growth | 1.80 % |
Potential Risks
| Debt/Equity | 2.25 |
| Financial Debt to EBITDA (TTM) | 5.55 |
| Current Ratio (Quarterly) | 0.00 |
| Credit Score | 37 |
Dividend Growth Perspective
| Dividend ($) | 1.25 |
| Dividend Yield Fwd | 3.55 % |
| Dividend Frequency | Quarterly |
| Average 5-Yr Yield | 3.85 % |
| Payout Ratio (%) | 116.05 |
| Cash Payout Ratio (%) | 74.15 |
| DGR 1-Yr (TTM) | 4.40 |
| DGR 3-Yr (TTM) | 9.85 |
| DGR 5-Yr (TTM) | 1.80 |
| DGR Streak | |
| Chowder Score | 5.35 |
| Next DVD PMT | 05-15-26 |
Valuation
(Data for `ddm_growth_rate_years` field are missing to build DDM tables)
Video Tutorial: How to Read the Stock Cards DDM Valuation
| Market Cap | 4 B |
| PE Ratio | 33.35 |
| Fwd PE | 31.85 |
| Price to Book Ratio | 6.10 |
| DDM Valuation | 0 |
| Average 5-Yr PE | 47.28 |
| Value Score | 28 |