Tanger: Beware Of Sucker Yields [Seeking Alpha]
Tanger Inc. (SKT)
Last tanger inc. earnings: 10/30 04:15 pm
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US:NYSE Investor Relations:
investors.tangeroutlet.com
Company Research
Source: Seeking Alpha
Tanger: Beware Of Sucker Yields Summary Tanger Factory Outlet Centers has seen a massive decline in share price combined with a growing dividend - shares now yield over 10%. Despite appearing cheap based on low FFO multiples and a strong balance sheet, the company's business model is in an existential crisis. Management hasn't been efficient with capital allocation in recent years, selling assets at high cap rates, paying back low-interest debt, and buying back stock at high prices. Leasing spreads, the primary driver of SSNOI growth, are too weak to sustain a growing dividend in the long term. Wait for this trend to improve before buying SKT. Investment Thesis Popular sentiment on the Street is that retail real estate is dead in the water. The resulting panic has led to some excellent buying opportunities in the space but has also revealed some falling knives with weak prospects. The market has punished retail REITs of all types, but I think that the situation is more nuanced. As alw
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SKT
News
- Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Tanger Inc. (NYSE: SKT) was upgraded by analysts at Compass Point from a "neutral" rating to a "buy" rating. They now have a $32.00 price target on the stock, up previously from $31.00.MarketBeat
- Tanger Inc. (NYSE: SKT) had its price target lowered by analysts at Evercore ISI from $29.00 to $28.00. They now have an "in-line" rating on the stock.MarketBeat
- Tanger Reports First Quarter Results and Raises Full-Year 2024 Guidance [Yahoo! Finance]Yahoo! Finance
- Tanger Reports First Quarter Results and Raises Full-Year 2024 GuidancePR Newswire
SKT
Earnings
- 4/30/24 - In-Line
SKT
Sec Filings
- 4/30/24 - Form 8-K
- 4/4/24 - Form ARS
- 4/4/24 - Form DEFA14A
- SKT's page on the SEC website