Tanger Q3 net income rises, boosts 2025 FFO guidance

Tanger

04/11/2025 21:44

Overview

Tanger Q3 net income rises to $0.28 per share, reflecting strong financial performance

Funds From Operations for Q3 increased to $0.60 per share, indicating operational strength

Company raises full-year 2025 guidance, reflecting confidence in future growth

Outlook

Tanger raises full-year 2025 net income guidance to $0.95-$0.99 per share

Company increases full-year 2025 FFO guidance to $2.28-$2.32 per share

Tanger expects 2025 Same Center NOI growth of 3.5%-4.25%

Result Drivers

TENANT DEMAND - Robust tenant demand and record leasing volume drove strong Q3 results, per CEO Stephen Yalof

SALES PRODUCTIVITY - Digital and on-center marketing initiatives accelerated sales momentum and engaged a wider demographic

STRATEGIC ACQUISITIONS - Acquisition of Legends Outlets, rebranded as Tanger Kansas City at Legends, added to portfolio growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Rental Revenue
$137.22 mln
Q3 Net Income
$33.34 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 6 "hold" and no "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 $35.00, about 6.3% above its November 3 closing price of $32.78

The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 31 three months ago

Press Release: ID:nBw8N6TmVa

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(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.)