(SKT) Tanger Factory Outlet - Overview
Sector: Real Estate | Industry: REIT - Retail | Exchange: NYSE (USA) | Market Cap: 4.113m USD | Total Return: 26.1% in 12m
Avg Turnover: 27.3M
EPS Trend: 76.8%
Qual. Beats: 0
Rev. Trend: 99.8%
Qual. Beats: 0
Warnings
Altman Z'' -0.60 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
Tanger Inc. (SKT) is a specialized real estate investment trust (REIT) focused on the ownership and operation of outlet and open-air retail destinations. Headquartered in North Carolina and publicly traded since 1993, the company manages a portfolio of 38 outlet centers and three lifestyle centers, totaling over 16 million square feet across 22 U.S. states and Canada. The firm serves as a landlord to more than 800 brand-name companies operating over 3,000 individual storefronts.
The outlet center business model typically benefits from lower occupancy costs for tenants compared to traditional malls, often attracting value-conscious consumers through direct-to-consumer manufacturer distribution. As a Retail REIT, Tanger is required by law to distribute at least 90% of its taxable income to shareholders in the form of dividends. Investors may find additional performance metrics and historical data for this REIT on ValueRay.
- Occupancy rates and lease spreads drive core net operating income growth
- Higher interest rates increase debt service costs and pressure REIT valuations
- Expansion into open-air lifestyle centers diversifies revenue beyond traditional outlets
- Consumer discretionary spending levels impact tenant sales and percentage rent income
- Strategic acquisitions and new development projects accelerate long-term funds from operations
| Net Income: 123.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -1.73 > 1.0 |
| NWC/Revenue: -15.44% < 20% (prev -34.81%; Δ 19.37% < -1%) |
| CFO/TA 0.10 > 3% & CFO 291.7m > Net Income 123.8m |
| Net Debt (1.78b) to EBITDA (352.4m): 5.07 < 3 |
| Current Ratio: 0.74 > 1.5 & < 3 |
| Outstanding Shares: last quarter (114.6m) vs 12m ago 0.54% < -2% |
| Gross Margin: 42.62% > 18% (prev 0.69%; Δ 4.19k% > 0.5%) |
| Asset Turnover: 22.46% > 50% (prev 21.71%; Δ 0.75% > 0%) |
| Interest Coverage Ratio: 2.87 > 6 (EBITDA TTM 352.4m / Interest Expense TTM 69.1m) |
| A: -0.03 (Total Current Assets 263.2m - Total Current Liabilities 355.3m) / Total Assets 2.83b |
| B: -0.19 (Retained Earnings -536.0m / Total Assets 2.83b) |
| C: 0.07 (EBIT TTM 198.2m / Avg Total Assets 2.66b) |
| D: -0.26 (Book Value of Equity -561.5m / Total Liabilities 2.14b) |
| Altman-Z'' = -0.60 = B |
As of May 27, 2026, the stock is trading at USD 35.93 with a total of 677,503 shares traded.
Over the past week, the price has changed by +0.79%,
over one month by -1.44%,
over three months by -3.70% and
over the past year by +26.07%.
Tanger Factory Outlet has received a consensus analysts rating of 3.80. Therefore, it is recommended to hold SKT.
- StrongBuy: 3
- Buy: 2
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 38.6 | 7.5% |
P/E Trailing = 33.7736
P/E Forward = 32.8947
P/S = 6.7282
P/B = 6.1338
P/EG = 4.1417
Revenue TTM = 596.6m USD
EBIT TTM = 198.2m USD
EBITDA TTM = 352.4m USD
Long Term Debt = 1.87b USD (from longTermDebt, last quarter)
Short Term Debt = 355.3m USD (from shortTermDebt, last quarter)
Debt = 2.05b USD (from shortLongTermDebtTotal, last quarter) + Leases 91.2m
Net Debt = 1.78b USD (calculated: Debt 2.05b - CCE 263.2m)
Enterprise Value = 5.90b USD (4.11b + Debt 2.05b - CCE 263.2m)
Interest Coverage Ratio = 2.87 (Ebit TTM 198.2m / Interest Expense TTM 69.1m)
EV/FCF = 26.04x (Enterprise Value 5.90b / FCF TTM 226.5m)
FCF Yield = 3.84% (FCF TTM 226.5m / Enterprise Value 5.90b)
FCF Margin = 37.97% (FCF TTM 226.5m / Revenue TTM 596.6m)
Net Margin = 20.76% (Net Income TTM 123.8m / Revenue TTM 596.6m)
Gross Margin = 42.62% ((Revenue TTM 596.6m - Cost of Revenue TTM 342.4m) / Revenue TTM)
Gross Margin QoQ = 15.28% (prev 18.44%)
Tobins Q-Ratio = 2.08 (Enterprise Value 5.90b / Total Assets 2.83b)
Interest Expense / Debt = 3.37% (Interest Expense 69.1m / Debt 2.05b)
Taxrate = 21.0% (US default 21%)
NOPAT = 156.6m (EBIT 198.2m * (1 - 21.00%))
Current Ratio = 0.74 (Total Current Assets 263.2m / Total Current Liabilities 355.3m)
Debt / Equity = 3.05 (Debt 2.05b / totalStockholderEquity, last quarter 670.5m)
Debt / EBITDA = 5.07 (Net Debt 1.78b / EBITDA 352.4m)
Debt / FCF = 7.88 (Net Debt 1.78b / FCF TTM 226.5m)
Total Stockholder Equity = 678.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.66% (Net Income 123.8m / Total Assets 2.83b)
RoE = 10.19% (Net Income TTM 123.8m / Total Stockholder Equity 1.21b)
RoCE = 6.43% (EBIT 198.2m / Capital Employed (Equity 1.21b + L.T.Debt 1.87b))
RoIC = 6.09% (NOPAT 156.6m / Invested Capital 2.57b)
WACC = 6.21% (E(4.11b)/V(6.16b) * Re(7.97%) + D(2.05b)/V(6.16b) * Rd(3.37%) * (1-Tc(0.21)))
Discount Rate = 7.97% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.45 | Cagr: 2.75%
[DCF] Terminal Value 74.60% ; FCFF base≈232.2m ; Y1≈221.6m ; Y5≈212.0m
[DCF] Fair Price = 13.49 (EV 3.33b - Net Debt 1.78b = Equity 1.55b / Shares 114.9m; r=8.35% [WACC [floored]]; 5y FCF grow -5.93% → 2.50% )
EPS Correlation: 76.79 | EPS CAGR: 6.32% | SUE: 0.07 | # QB: 0
Revenue Correlation: 99.78 | Revenue CAGR: 11.06% | SUE: 0.59 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.27 | Chg30d=-2.18% | Revisions=-33% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.29 | Chg30d=+1.38% | Revisions=-20% | Analysts=3
EPS current Year (2026-12-31): EPS=1.12 | Chg30d=+2.27% | Revisions=+33% | GrowthEPS=+8.7% | GrowthRev=+1.1%
EPS next Year (2027-12-31): EPS=1.23 | Chg30d=+1.37% | Revisions=+33% | GrowthEPS=+10.1% | GrowthRev=+5.3%
[Analyst] Revisions Ratio: -33%