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SKT

Tanger Inc.

SKT

Tanger Inc. • NYSE
$33.58 ▼ -0.06% (-0.02)
Market Cap $3.77 B
52w High $37.15
52w Low $28.69
Dividend Yield 1.15%
P/E 35.72
Volume 258.88K
Outstanding Shares 112.27M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $145.208M ▲ $117.954M ▲ $32.027M ▲ 22.056% ▲ $0.28 ▲ $86.89M ▲
Q2-2025 $140.694M ▲ $55.6M ▼ $30.086M ▲ 21.384% ▲ $0.27 ▲ $84.337M ▲
Q1-2025 $135.363M ▼ $56.139M ▼ $19.201M ▼ 14.185% ▼ $0.17 ▼ $72.917M ▼
Q4-2024 $140.735M ▲ $56.782M ▲ $26.486M ▲ 18.82% ▲ $0.24 ▲ $77.98M ▲
Q3-2024 $133.001M $18.215M $24.856M 18.689% $0.23 $76.799M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $13.029M ▲ $2.636B ▲ $1.904B ▲ $703.646M ▲
Q2-2025 $9.741M ▼ $2.452B ▼ $1.791B ▼ $635.172M ▲
Q1-2025 $10.156M ▼ $2.478B ▲ $1.818B ▲ $633.895M ▼
Q4-2024 $46.992M ▲ $2.381B ▲ $1.702B ▲ $652.37M ▲
Q3-2024 $11.053M $2.275B $1.683B $568.294M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $31.803M ▲ $75.921M ▼ $-37.703M ▼ $2.033M ▲ $40.487M ▲ $53.401M ▼
Q2-2025 $29.861M ▲ $82.974M ▲ $-10.801M ▲ $-72.714M ▼ $-415K ▲ $63.947M ▲
Q1-2025 $19.999M ▼ $41.437M ▼ $-175.697M ▼ $97.615M ▲ $-36.836M ▼ $40.092M ▼
Q4-2024 $27.609M ▲ $91.644M ▲ $-110.655M ▼ $55.148M ▲ $35.939M ▲ $90.808M ▲
Q3-2024 $24.856M $65.173M $-19.713M $-43.327M $1.993M $64.141M

Five-Year Company Overview

Income Statement

Income Statement Tanger’s income statement shows a business that has largely moved past its pandemic hit and is now on a steady growth track. Revenue has climbed consistently over the last five years, and core profit measures have improved alongside it, suggesting better utilization of properties and solid tenant demand. After posting losses during the early 2020s, net income has turned positive and stayed there, indicating a healthier, more stable earnings base. The only nuance is that earnings per share have recently dipped slightly from the prior year despite higher revenue, which may reflect some margin pressure, non‑cash items, or capital structure changes rather than a fundamental deterioration.

Balance Sheet

Balance Sheet The balance sheet reflects gradual strengthening from a stressed period into a more secure footing. Total assets have inched up, showing ongoing investment in the property portfolio. Debt levels have been relatively stable to slightly lower over time, which is noteworthy for a real estate trust that typically operates with meaningful leverage. Shareholders’ equity has rebuilt steadily from earlier lows, a sign that retained earnings and asset values are recovering. Cash balances move around year to year but appear adequate relative to day‑to‑day needs, with the main story being a more balanced capital structure and improved financial resilience.

Cash Flow

Cash Flow Cash flow is a clear bright spot. Operating cash generation has grown over the period, showing that the underlying properties are consistently producing more cash. Free cash flow has been solid and generally rising as well, helped by relatively modest capital spending needs. This pattern suggests Tanger can both maintain and selectively enhance its centers without straining its finances, while still having room to service debt and support shareholder returns. Overall, cash flow quality looks strong and more stable than accounting earnings alone might suggest.

Competitive Edge

Competitive Edge Tanger occupies a focused niche in outlet and open‑air retail centers, positioned around value for shoppers and dependable traffic for brand‑name tenants. Its centers cater to consumers looking for discounts on recognized brands, a segment that tends to hold up reasonably well when budgets are tight. Long‑standing relationships with many well‑known retailers, high occupancy, and a shift toward more food, entertainment, and lifestyle offerings help differentiate its properties from traditional enclosed malls. That said, Tanger still faces structural pressures from e‑commerce, shifting shopping habits, and the financial health of its tenants, so continued reinvestment and careful tenant curation are critical to maintaining this advantage.

Innovation and R&D

Innovation and R&D While real estate trusts do not have classic research labs, Tanger is leaning into digital and experiential innovation. The upgraded loyalty program and mobile app, data‑driven tenant insights, and the “Virtual Shopper” concierge concept all aim to deepen engagement and better understand customer behavior. At the same time, Tanger is repositioning its centers as experience and community hubs—adding dining, entertainment, fitness, and other lifestyle uses—rather than relying solely on traditional outlet shopping. Future success will hinge on how well it scales its lifestyle center strategy, continues to enrich its digital tools, integrates any acquisitions, and potentially ties its physical and online experiences more tightly together.

Summary

Overall, Tanger’s recent story is one of recovery and measured reinvention. Financial performance has improved from pandemic losses to steady profitability, backed by strong and growing cash flows and a gradually stronger balance sheet. Strategically, the company is trying to defend and expand its niche by combining value‑oriented outlet shopping with more experiential and digitally enabled offerings. The key opportunities lie in capturing more wallet share through better experiences and data, and in smartly expanding its property base. The main risks remain the broader retail cycle, tenant health, competition from online and other physical formats, and the interest‑rate environment that shapes real estate valuations and financing costs. Investors will likely focus on execution—how consistently Tanger can keep properties full, relevant, and cash‑generative in a fast‑changing retail landscape.

NEWS

November 4, 2025 · 4:05 PM UTC

Tanger Reports Third Quarter 2025 Results and Raises Full-Year 2025 Guidance

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October 14, 2025 · 8:00 AM UTC

Tanger Declares Dividend Payable November 14, 2025

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September 18, 2025 · 4:15 PM UTC

Tanger Schedules Third Quarter 2025 Earnings Release and Conference Call

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September 16, 2025 · 4:33 PM UTC

Tanger Acquires Legends Outlets in Kansas City, Kansas

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