Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Tanger (SKT) have what it takes?
Tanger Inc. (NYSE:SKT ) Q4 2024 Earnings Call February 20, 2025 8:30 AM ET Company Participants Ashley Curtis - Assistant VP of IR Stephen Yalof - President and CEO Michael Bilerman - EVP, CFO, and CIO Justin Stein - EVP, Leasing Leslie Swanson - EVP and COO Conference Call Participants Craig Mailman - Citi Andrew Reale - Bank of America Unidentified Analyst - Evercore ISI Floris van Dijkum - Compass Point Juan Sanabria - BMO Capital Markets Caitlin Burrows - Goldman Sachs Hong Zhang - J.P. Morgan Naishal Shah - Green Street Connor Peaks - Deutsche Bank Greg McGinniss - Scotiabank Todd Thomas - KeyBanc Capital Markets Operator Good morning.
Tanger Inc. is a growth-focused REIT with a low FFO pay-out ratio, benefiting from a strong U.S. economy and consumer confidence. The trust's aggressive pricing strategy and robust demand for retail space led to a 14.4% rent uplift in Q3 2024. Tanger's low dividend pay-out ratio of 51% offers a high margin of safety, making it an attractive option for passive income investors.
During the initial COVID-19 stock market crash, many stocks plunged, but retail real estate companies were hit harder than most. Since I bought shares of Tanger Factory Outlet Centers (SKT 1.03%) in early 2020, my investment is up by more than 500%, not including dividends.
Stephen Yalof, Tanger CEO, joins 'Closing Bell Overtime' to talk consumer spending trends, the state of luxury retail, what kind of retailers are seeing foot traffic, and more.
The heavy selling pressure might have exhausted for Tanger (SKT) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
After losing some value lately, a hammer chart pattern has been formed for Tanger (SKT), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.
Tanger Outlets CEO Stephen Yalof discusses promotions across retail: "We've seen as much as 70% off."
Tanger Inc. has shown resilience with a 97.4% occupancy rate, strong NOI growth, and 11 consecutive quarters of positive rent spreads. SKT's strategic tenant rebalancing and operational efficiencies have enhanced its appeal, attracting aspirational brands and maintaining a recession-resistant outlet model. With a solid balance sheet, safe leverage, and a well-covered 3% dividend yield, SKT is a strong income-focused investment.
Stephen Yalof, Tanger CEO, talks the state of retail and the consumer ahead of the holidays.
Tanger Inc. (NYSE:SKT ) Q3 2024 Earnings Conference Call November 7, 2024 8:30 AM ET Company Participants Ashley Curtis - Assistant VP of IR Stephen Yalof - President and CEO Michael Bilerman - CFO and CIO Justin Stein - EVP, Leasing Conference Call Participants Jeff Spector - Bank of America Todd Thomas - KeyBanc Capital Markets Hong Zhang - JPMorgan Caitlin Burrows - Goldman Sachs Floris van Dijkum - Compass Point Operator Good morning. I'm Ashley Curtis, Assistant Vice-President of Investor Relations, and I would like to welcome you to Tanger Inc.'s Third Quarter 2024 Conference Call.
Tanger (SKT) came out with quarterly funds from operations (FFO) of $0.54 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to FFO of $0.50 per share a year ago.