Tanger Q4 net income rises

Overview

• Outlet shopping destination's Q4 net income rises yr/yr

• FFO per share for Q4 increases yr/yr

Outlook

• Tanger expects full-year 2026 net income per share between $1.04 and $1.12

• Company anticipates 2026 FFO per share between $2.41 and $2.49

• Tanger forecasts Same Center NOI growth of 2.25% to 4.25% for 2026

Result Drivers

• RECORD LEASING - Tanger achieved record annual leasing volume, contributing to increased occupancy and NOI growth

• STRONG TENANT DEMAND - Robust retailer demand and consumer interest fueled same center NOI increases

Company press release: ID:nBw2jtP7qa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 7 "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 $36.00, about 1.1% above its February 23 closing price of $35.61

• The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 32 three months ago

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