| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 28 | 33.3x | 17.3x | Bottom tier | |
Growth | 59 | 17.5% | 7.1% | Around median | |
Quality | 88 | 8.0% | 4.5% | Top tier | |
Safety | 41 | 4.6x | 2.6x | Around median | |
Capital Return | 69 | 3.27% | 0.06% | Top tier | |
Momentum | 65 | 7.3% | -1.6% | Around median | |
Sentiment | 64 | 3 | 3 | Around median |
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Tanger Inc. is a real estate company specializing in owning, operating, and developing open-air shopping centers, including outlet centers and lifestyle centers. Its income is generated primarily from store rents and tenant expense reimbursements, along with additional revenue from advertising, events, the TangerClub program, and services such as electric vehicle charging and solar energy; this additional revenue averaged approximately $0.5 million per center. The company expanded its portfolio during the three years ended August 2026 by adding seven open-air centers, including four lifestyle centers, while the number of brands in the portfolio increased from approximately 500 to more than 800 over five years.
In fiscal Q1 2026, Tanger reported revenue of $150.4 million and net income of $28.3 million, compared with revenue of $135.4 million and net income of $19.2 million in fiscal Q1 2025; representing revenue growth of approximately 11.1% and net income growth of approximately 47.4%. Earnings per share were $0.24 versus $0.17, while revenue for the trailing twelve-month period ended in fiscal 2026 reached $571.7 million, net income reached $109.6 million, and earnings per share reached approximately $0.95.
In fiscal Q2 2026, core funds from operations per share increased 10.3% to $0.64 from $0.58, and same-center net operating income grew 3.5%, driven by higher base rents, tenant reimbursements, and other revenue. Occupancy was 96.6%, and average tenant sales were $487 per square foot, up 5% year over year, while non-apparel uses came to represent 32% of leasable space compared with approximately 19% several years ago, reflecting the diversification of the activity mix within the centers.
The analyst consensus on SKT stock is Neutral, with an average price target of $40.17 and a target range of $37 to $42. The average target lies in the upper portion of the 52-week range of $31.13–$42.53, while the highest target remains slightly below the top of that range; therefore, the valuation reflects a balance between raised fiscal 2026 guidance and leasing strength on one hand, and the risks of re-leasing the Saks Off 5th locations, higher interest expense, and compressing acquisition capitalization rates on the other.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Core funds from operations per share increased to $0.64 from $0.58, representing growth of 10.3%, as a result of internal growth and accretive acquisitions. Same-center net operating income also increased 3.5%, driven by higher base rents, tenant reimbursements, and growth in other revenue sources. Average tenant sales reached $487 per square foot during the twelve months ended in that quarter, up 5% annually, with occupancy of 96.6%.
Tanger recaptured 150,000 square feet from Saks Off 5th, which reduced occupancy by approximately 45 basis points sequentially in fiscal Q2 2026. Approximately half of the space was occupied under temporary leases, while approximately 70,000 square feet remained vacant, and the temporary leases replace most of the previous rent. Management believes permanent rents could reach two to four times comparable temporary rent levels, but the impact will be limited in fiscal 2027 and more evident in fiscal 2028.
Automated analysis for informational purposes only — not investment advice.
Net debt to adjusted earnings before interest, taxes, depreciation, and amortization was 4.7 times at the end of fiscal Q2 2026, unchanged from the end of fiscal 2025 and below the target range of 5–6 times. Debt was entirely fixed-rate, including swap agreements, at an average interest rate of approximately 4% and an average maturity of 3.3 years, while total liquidity was approximately $1 billion. In July 2026, the company raised its quarterly dividend by 7% to $0.3125 per share, with a payout ratio in the low-60% range.
On August 5, 2026, management raised its guidance range for core funds from operations per share to $2.45–$2.52, compared with the previous range of $2.42–$2.50. The midpoint of the new range reflects growth of 7% from the previous fiscal year, while the lower end of same-center net operating income growth guidance increased to 2.75%, with the upper end unchanged at 4.25%. The guidance does not include any additional acquisitions, asset dispositions, or financing activities, while recurring capital expenditure guidance remained at $65–$75 million.