Tanger Q2 net income and FFO per share rise year over year

Tanger

04/08/2026 21:27

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

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%

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

Company press release: ID:nBw2NPVzMa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Rental Revenue
 
$148.27 mln
 
Q2 Net Income
 
$34.60 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy."
Wall Street's median 12-month price target for Tanger Inc is $40.50, about 0.6% below its August 3 closing price of $40.75
The stock recently traded at 36 times the next 12-month earnings vs. a P/E of 33 three months ago

Reuters Recommended Reads
Aug 3 - InvenTrust Properties Q2 FFO per share rises on healthy leasing activity
Aug 4 - Kimco Realty lifts annual profit forecast, beats quarterly revenue estimates on strong leasing demand
Aug 3 - SITE Centers posts Q2 net loss as property sales weigh on results

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)