Tanger Q2 net income and FFO per share rise year over year
SKT•Outlook
- Tanger raises 2026 net income guidance to $1.06-$1.13 per share from $1.05-$1.13
- Company lifts 2026 FFO per share guidance to $2.45-$2.52 from $2.42-$2.50
- Tanger expects 2026 same center NOI growth of 2.75%-4.25%
- Acquisition of Levis Commons Town Center in May 2026 expected to deliver first-year return of about 8.5%
Overview
- U.S. outlet mall operator's Q2 net income per share rose yr/yr
- FFO per share for Q2 increased to $0.64 from $0.58 a year earlier
- Company completed acquisition of Levis Commons Town Center in May 2026
Result drivers
- Remerchandising and leasing strategy - Co said higher average tenant sales per square foot reflected efforts to remerchandise, replace less productive tenants, and evolve its portfolio
- Strong leasing activity - Co reported robust leasing from both existing and new tenants, with blended average rental rate spreads of 10.5% for leases executed in the past year
Key details and analyst coverage
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