Tanger Factory Outlet Centers (NYSE: SKT) bit the bullet Monday, releasing first-quarter results that were strongly impacted by the SARS-CoV-2 coronavirus pandemic. Adjusted funds from operations (the REIT equivalent of earnings) fell to $48.7 million, or $0.50 per share; this was $55.9 million in last year's Q1. The REIT also said that once it pays its upcoming dividend of nearly $0.36 per share (scheduled for this week), it will temporarily suspend the payout.
Today, the shareholders of Tanger Factory Outlet Centers, Inc. (NYSE: SKT) elected the following directors to serve until the 2021 annual meeting of shareholders:
Times are tough and money is tight, but these three investments in the retail space have compelling businesses built to deal with the new normal.
The stock market ended the week on a positive note, with the Dow Jones Industrial Average and S&P 500 up by 1.5% and 1.4%, respectively, as of 3 p.m. EDT. Mall operator Macerich (NYSE: MAC) was a particular standout, with the retail REIT's shares up by nearly 11%. This is especially true with outdoor (open-air) shopping centers.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announced today that its Board of Directors has finalized a contract amendment and extension through January 1, 2024 for Steven B. Tanger, Chief Executive Officer. Effective January 1, 2021, Mr. Tanger will become the Company's Executive Chair and will be succeeded in the CEO role by Stephen J. Yalof, who joined Tanger as President and Chief Operating Officer in early April.
The rapid decline can be attributed to government-required retail store closures. Tanger Factory Outlet Centers (NYSE: SKT) is one of those property owners waiting to see what happens next. Headquartered in North Carolina, Tanger Outlets is a real estate investment trust (REIT) with 39 upscale outlet shopping centers in 20 states and Canada, leasing to over 2,800 stores.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) today reported financial results for the three months ended March 31, 2020 and operating metrics for the first quarter of 2020 and provided a COVID-19 update.
Tanger and Simon are struggling through a difficult period for malls, but Simon looks better positioned for the long term
The broader market sold off on economic concerns, exposing what will remain a major Achilles' heel for the REIT.
Warren Buffett talked about the changing retail and commercial real estate business at Berkshire Hathaway's annual meeting with shareholders.
Tanger (SKT) delivered FFO and revenue surprises of -3.85% and -1.64%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announced today that its financial results for the quarter ended March 31, 2020 will be released on Monday, May 11, 2020 after market close. The Company will host its conference call for analysts, investors and other interested parties on Tuesday, May 12, 2020 at 8:00 a.m. Eastern Time.
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) announced today that Steven B. Tanger, Chief Executive Officer, will be a featured presenter at NAREIT's REITweek 2020 Virtual Investor Conference on Wednesday, June 3rd at 9:00 am EDT.
Investors appear to be digesting the outlet center REIT's earnings and coming to the conclusion that things are as bad as they look
Tanger Factory Outlet Centers released some news, but it was likely the bigger picture that scared investors today.
This is Cyndi Holt, Vice President of Investor Relations and I would like to welcome you to the Tanger Factory Outlet Centers' first quarter 2020 conference call. Good morning and thank you for joining us.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) today announced that its Annual Meeting of Shareholders (the "Annual Meeting") on May 15, 2020, will be held virtually to protect the health and well-being of attendees, and accommodate travel and stay-at-home restrictions in place due to the COVID-19 pandemic. As previously announced, the meeting will commence at 10:00 a.m. (EDT) on May 15, and online access information is detailed below. There will no longer be any in-person participation at the Annual Meeting.
In unprecedented times, even the longest dividend track records are at risk. Here's what drove this tough decision.
The pain started with Tanger, but quickly spread to the entire mall REIT sector. Investors are still absorbing earnings.
Sentiment around the outlet center owner is particularly negative, but it isn't the only retail landlord getting hit today.