Tanger
Owns Tanger-branded outlets and other open-air retail centers across the United States and Canada.
Something off on this page? Send us feedback.
Profile
Owns and operates outlet and other open-air retail centers in the United States and Canada, earning primarily fixed and variable rent from retailers. The portfolio is anchored by Tanger-branded outlets and supplemented by full-price lifestyle centers, joint ventures, and management services.
Owns, operates, acquires, develops, and manages outlet and other open-air retail centers, with most properties carrying the Tanger brand. The portfolio spans the United States and Canada and includes outlet destinations, a small group of full-price lifestyle centers, unconsolidated joint ventures, and a managed center. Revenue comes primarily from fixed and variable tenant rent, with smaller management, leasing, and other service fees.
Uses long-standing retailer relationships, leasing, property operations, marketing, renovations, and tenant-mix changes to improve occupancy and rents. Food, beverage, entertainment, and services broaden the mix beyond discounted apparel, footwear, and accessories, while selective acquisitions extend the platform beyond traditional outlets. Results remain tied to store traffic, tenant sales and credit, retailer demand for physical locations, financing access, and REIT distribution rules; Canadian exposure is limited to outlet centers held through unconsolidated ventures.
Company facts
Key statistics
Year to date +14.0% · Average volume (30d) 888.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Barclays | Reiterate | Equal Weight | $41 | $42 | |
| Jul 7, 2026 | Evercore ISI | Target | $37 | $39 | ||
| Jun 18, 2026 | UBS | Target | $41 | |||
| Jun 17, 2026 | Deutsche Bank | Reiterate | Hold | $40 | ||
| Jun 16, 2026 | B of A Securities | Downgrade | Neutral | Underperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.25 | $0.29 | +14.9% | $142.6M | $148.3M | +4.0% | −0.42% |
| Apr 30, 2026Q1 FY26 | $0.27 | $0.59 | +119.3% | $142.9M | $143.5M | +0.4% | −1.97% |
| Feb 24, 2026Q4 FY25 | $0.26 | $0.63 | +145.6% | $143.1M | $151.0M | +5.5% | +5.79% |
| Nov 4, 2025Q3 FY25 | $0.58 | $0.60 | +3.4% | $145.9M | $145.2M | −0.5% | +0.65% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $135.4M | $140.7M | $145.2M | $160.3M | $150.4M | $156.4M | |
| Gross profit | $93.5M | $100.3M | $101.4M | $109.8M | $103.7M | $110.9M | |
| Operating income | $37.4M | $44.7M | $45.7M | $47.6M | $43.2M | $48.5M | |
| Net income | $19.2M | $30.1M | $32.0M | $33.5M | $28.3M | $34.6M | |
| Diluted EPS | $0.17 | $0.26 | $0.28 | $0.29 | $0.24 | $0.29 | |
| Gross margin | 69.1% | 71.3% | 69.8% | 68.5% | 68.9% | 70.9% | |
| Operating margin | 27.6% | 31.8% | 31.5% | 29.7% | 28.7% | 31.0% |
Fiscal years (4-quarter sums)FY21 $428.7M · FY22 $444.4M · FY23 $466.3M · FY24 $512.8M · FY25 $581.6M
Balance sheet, Jun 30, 2026Cash & short-term investments $196.9M · Total debt $1.86B · Total assets $2.86B · Shareholders' equity $674.0M
Dividends
Raised for 4 straight years — most recently to $0.3125 from $0.2925 in Apr 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 31, 2026 | Jul 31 | Aug 14 | $0.3125 | |
| Apr 30, 2026 | Apr 30 | May 15 | $0.3125 | raised from $0.2925 |
| Jan 30, 2026 | Jan 30 | Feb 13 | $0.2925 | |
| Oct 31, 2025 | Oct 31 | Nov 14 | $0.2925 | |
| Jul 31, 2025 | Jul 31 | Aug 15 | $0.2925 | |
| Apr 30, 2025 | Apr 30 | May 15 | $0.2925 | raised from $0.275 |
| Jan 31, 2025 | Jan 31 | Feb 14 | $0.275 | |
| Oct 31, 2024 | Oct 31 | Nov 15 | $0.275 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 114.88M · Float 112.03M · 97.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 22.21M | 19.34% | 13F | Aug 7, 2026 |
| FMR LLC | 16.44M | 14.31% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 11.78M | 10.25% | 13F | Aug 13, 2026 |
| State Street Corp | 6.52M | 5.67% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 4.99M | 4.34% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 15, 2026 | Berman Bridget Ryan | director | −14,698 | $35.24 |
| Mar 6, 2026 | Susan E. Skerritt | director | −5,060 | $36.22 |
| Feb 27, 2026 | Thomas Joseph JR Guerrieri | officer: SVP, CAO | −10,432 | $37.61 |
| Feb 27, 2026 | Thomas Reddin | director | −10,000 | $37.50 |
| Sep 5, 2025 | Gallardo Leslie Swanson | officer: EVP, Chief Operating Officer | −17,500 | $34.74 |
Peers
- Simon Property Group
Direct outlet rival through Premium Outlets and retail-scale leasing
- Kimco Realty
Large open-air REIT competing for tenants and mixed-use assets
- Regency Centers
Open-air shopping-center peer with large suburban portfolio
- Federal Realty
Lifestyle and mixed-use retail peer in premium open-air markets
- Kite Realty Group
Open-air and mixed-use REIT peer in Sun Belt retail markets
- Brixmor Property Group
Large open-air center owner competing for value and daily-needs tenants
- Macerich
Major retail-property owner overlapping in outlets and destination tenants
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Tanger | $37.73 | 0.00% | $4.33B | 34.3 | 33.3 | 7.1 | +5.4% |
| Simon Property Group | $214.38 | −0.07% | $69.58B | 15.2 | 32.0 | 10.0 | +10.8% |
| Kimco Realty | $23.78 | +0.02% | $16.03B | 26.7 | 27.8 | 7.3 | +4.1% |
| Regency Centers | $75.52 | +0.01% | $13.79B | 21.4 | 29.9 | 8.0 | +5.8% |
| Federal Realty | $116.75 | −0.01% | $10.09B | 23.3 | 37.7 | 7.6 | +4.6% |
| Kite Realty Group | $26.00 | 0.00% | $5.21B | 16.1 | 65.4 | 6.4 | −9.4% |
| Brixmor Property Group | $29.17 | −0.02% | $8.95B | 20.8 | 28.0 | 6.4 | +4.2% |
| Macerich | $23.75 | +0.02% | $7.07B | — | 11,242.9 | 7.0 | −0.0% |
| Median | 21.1 | 32.0 | 7.3 | +4.2% |