Tanger Factory Outlet Centers, Inc. (SKT) AI Stock Analysis

Tanger Factory Outlet Centers, Inc. operates as a publicly traded Real Estate Investment Trust (REIT) specializing in open-air upscale outlet shopping centers. With over 39 years in the outlet industry, the company holds ownership or ownership interests in 38 centers across 20 U.S. states and Canada, totaling roughly 14.1 million square feet of leasable space. The portfolio accommodates more than 2,700 stores representing over 500 brand name companies. Tanger focuses on cultivating strong tenant partnerships and providing attractive shopping amenities to attract consumers seeking quality merchandise at discounted prices.

Tanger increased annual revenue from $426.5M in FY2021 to $581.6M in FY2025, reflecting a 5-year revenue CAGR of 8.3%. Operating margin expanded from 25.8% in FY2021 to 30.2% in FY2025, while gross margin improved from 67.0% to 69.7%. Net income rose from $9.1M in FY2021 to $114.8M in FY2025, with EPS climbing from $0.64 to $1.03 over the same period. For the trailing twelve months, revenue reached $627.7M alongside an operating margin of 32.6% and net margin of 20.2%. For the latest quarter ended June 30, 2026, quarterly revenue grew 11.5% year-over-year and quarterly earnings grew 10.8%.

As of June 30, 2026, Tanger held $196.9M in cash and short-term investments against $1.86B in total debt, leading to net debt of $1.66B. Shareholders' equity was $674.0M, resulting in a debt-to-equity ratio of 2.76, while the current ratio stood at 1.83. During FY2025, operating cash flow was $295.4M and free cash flow was $295.4M. Cash usage during FY2025 included $96.0M in capital expenditures and $132.2M in dividends paid, while share issuance contributed $69.3M.

At $35.43 per share, Tanger trades at a trailing P/E of 32.5x and a forward P/E of 31.2x, compared to medians of 21.6x and 23.5x, respectively, for its US-listed Real Estate peers. Its price-to-sales ratio of 6.7x is above the peer median of 3.7x, and its EV-to-EBITDA stands at 16.1x versus the peer median of 14.7x. Over the past year, the stock returned 13.4% compared to 16.8% for the S&P 500 (SPY), while over five years its return of 159.1% exceeded the S&P 500 return of 83.0%.

Tanger pays an annual forward dividend of $1.25 per share, representing a dividend yield of 3.53% with a payout ratio of 84.9%. Distributions are made quarterly, and the company has paid dividends for 34 consecutive years. Over the past five years, the dividend has grown at an annualized rate of 10.1%. Its last ex-dividend date was October 30, 2026.

Wall Street coverage consists of 2 Strong Buy, 0 Buy, 8 Hold, 1 Sell, and 0 Strong Sell ratings. The mean price target is $40.40, representing 14.0% upside versus the last close of $35.43. For the fiscal year ending December 31, 2026, analysts estimate EPS of $1.10 on revenue of $601.5M. Tanger beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 4, 2026.

This page is an AI-written research summary of Tanger Factory Outlet Centers, Inc. (SKT). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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