Tanger: Building Wealth With Consistent Returns And Growth
Tanger boasts a strong portfolio of strategically located open-air outlet centers, demonstrating resilience with high occupancy rates and robust same-store NOI growth. SKT's simple, low-maintenance business model and proactive tenant management contribute to its profitability and stability. The stock offers a well-covered 3.6% dividend yield, with a payout ratio of 51%, and potential for future growth and dividend increases.
Tanger Inc. (SKT) Q2 2024 Earnings Call Transcript
Tanger Inc. (NYSE:SKT ) Q2 2024 Earnings Call Transcript August 2, 2024 8:30 AM ET Company Participants Ashley Curtis - Assistant VP of IR Stephen Yalof - President and CEO Michael Bilerman - CFO and CIO Conference Call Participants Andrew Reale - Bank of America Floris van Dijkum - Compass Point Todd Thomas - KeyBanc Capital Markets Craig Mailman - Citigroup Greg McGinniss - Scotiabank Samir Khanal - Evercore ISI Caitlin Burrows - Goldman Sachs Mike Mueller - JPMorgan Operator Good morning. I'm Ashley Curtis, Assistant Vice President of Investor Relations, and I would like to welcome you to Tanger Inc's Second Quarter 2024 Conference Call.
Tanger (SKT) Q2 FFO and Revenues Top Estimates
Tanger (SKT) came out with quarterly funds from operations (FFO) of $0.53 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to FFO of $0.47 per share a year ago.
Tanger: 4% Yield, Re-Tenanting Upside, Low FFO Multiple
Tanger Inc. offers strong value for passive income investors with robust same center net operating income growth and high shopping center occupancy. The trust has low FFO multiple, positive rental spreads, and upcoming lease expirations that could lead to growth in net operating income and funds from operations. Tanger's dividend has increased by 6% in April, with potential for further growth due to re-leasing efforts and strong rental spreads.
