All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that mea ...

Financial Data and Key Metrics Changes - Fourth quarter Core FFO was $0.63 per share, a 17% increase year-over-year, and for the full year, it was $2.33 per share, up 9.4% from the previous year [4][14] - Same Center NOI growth for the year was 4.3%, reflecting successful leasing and operating strategies [14] - The company ended 2025 with a net debt to adjusted EBITDA ratio of 4.7x, benefiting from strong EBITDA growth [20] Business Line Data and Key Metrics Changes - Leasing volume exceeded 3 million sq ft, marking the highest annual production on record, with year-end occupancy at 98.1%, a 70 basis point increase [5][6] - Tenant sales productivity was $473 per sq ft, up 7% from the prior year, indicating strong retailer demand [6] - The company achieved positive rent spreads and extended lease terms for both renewals and new deals [5] Market Data and Key Metrics Changes - The company noted favorable demographic trends and limited new retail development, contributing to strong leasing demand [7][9] - Population growth in key markets is driving sustained demand and increased traffic throughout the week [9][10] - The company is leveraging technology and AI to enhance operational efficiency and customer engagement [10][11] Company Strategy and Development Direction - The company is focused on adding new uses and categories, replacing underperforming tenants, and enhancing the customer experience through food, beverage, and entertainment offerings [7][8] - Strategic investments in real estate and peripheral land activation are aimed at driving long-term growth [8][10] - The company is committed to maintaining a strong balance sheet while pursuing external growth opportunities [11][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about retailer demand and the potential for growth despite recent bankruptcies in the retail sector [14][86] - The company anticipates continued organic growth and contributions from external growth activities, with guidance for Core FFO per share in the range of $2.41-$2.49 for 2026 [21][22] - Management highlighted the importance of adapting to changing consumer preferences and enhancing the shopping experience to drive traffic [62] Other Important Information - The company was recognized by Newsweek as one of America's greatest workplaces for culture and community in 2026 [12] - Significant advancements in technology initiatives are expected to unlock further opportunities for innovation and insights [11] Q&A Session Summary Question: CapEx implications regarding Saks - Management clarified that Saks has not rejected any leases and any potential CapEx related to Saks is not embedded in the current guidance [25][26] Question: Retailer conversations and sales expectations - Management noted that retailers are optimistic about sales and open to buys, indicating a strong promotional environment [29][30] Question: Leasing trends and lease lengths - Management indicated a shift towards retenanting as a more profitable strategy, with a focus on diversifying tenant mix [33][34] Question: Consumer health and demographic shifts - Management reported a shift towards younger consumers and families, with enhanced digital marketing initiatives resonating well [43][44] Question: Future M&A and retailer conversations - Management confirmed ongoing conversations with retailers regarding potential acquisitions and developments, indicating strong support from retail partners [52][54] Question: CapEx run rate expectations - Management expects CapEx to remain in the mid-teens range, which is lower compared to industry standards [58] Question: Health of consumers and retail partners - Management reported no deceleration in retailer demand, with a focus on providing value to consumers [61][62]

Tanger (NYSE:SKT) Q4 2025 Earnings call February 25, 2026 08:30 AM ET Company ParticipantsAshley Curtis - AVP for Investor RelationsFloris Van Dijkum - Managing Director for Equity ResearchHarrison Slater - Equity Research AssociateHong Zhang - Vice President for North America Equity Research (REITs)Juan Sanabria - Managing Director for U.S. Real Estate Equity ResearchJustin Stein - EVP and Chief Revenue OfficerMichael Bilerman - EVP, CFO, and Chief Investment OfficerNaishal Shah - Senior Associate for Equi ...

Tanger (NYSE:SKT) Q4 2025 Earnings call February 25, 2026 08:30 AM ET Speaker0Good morning. I'm Ashley Curtis, Assistant Vice President of Investor Relations. I would like to welcome you to Tanger Inc.'s fourth quarter and full year 2025 conference call. Yesterday evening, we issued our earnings release as well as our supplemental information package and investor presentation. This information is available on our IR website, investors.tanger.com. Please note, this call may contain forward-looking statements ...

Management Presentation FEBRUARY 24, 2026 Tanger Outlets Phoenix Table of Contents Our Company and Strategy 3 Activating Growth Leasing, Marketing, and Operations Accelerating Growth A Portfolio Positioned in the Path of Demand External Growth Accretive Portfolio Expansion to Drive Value Appendix 45 4Q 2025 | 2 17 27 35 Our Company and Strategy Tanger Outlets Grand Rapids 3 4Q 2025 | Innovating Retail for 40+ Years | 1981 | 1993 | 16M+ SF | 41 | | --- | --- | --- | --- | | Founded | Listed (NYSE: SKT) | of ...

分组1 - Federal Realty Investment Trust (FRT) reported quarterly funds from operations (FFO) of $1.84 per share, missing the Zacks Consensus Estimate of $1.86 per share, but showing an increase from $1.73 per share a year ago, resulting in an FFO surprise of -0.97% [1] - The company posted revenues of $336.05 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.15%, compared to year-ago revenues of $311.44 million, and has topped consensus revenue estimates four times over the last four quarters [2] - The current consensus FFO estimate for the coming quarter is $1.78 on revenues of $327.58 million, and for the current fiscal year, it is $7.42 on revenues of $1.34 billion [7] 分组2 - Federal Realty Investment Trust shares have increased by approximately 6.1% since the beginning of the year, outperforming the S&P 500's gain of 1.4% [3] - The Zacks Industry Rank for REIT and Equity Trust - Retail is currently in the top 28% of over 250 Zacks industries, indicating that the industry outlook can significantly impact stock performance [8] - The estimate revisions trend for Federal Realty Investment Trust was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]

Core Viewpoint - Tanger Properties Limited Partnership intends to offer $200 million aggregate principal amount of Exchangeable Senior Notes due 2031 in a private placement, subject to market conditions and other factors [1]. Group 1: Company Overview - Tanger® is a leading owner and operator of outlet and open-air retail shopping destinations [1]. Group 2: Financial Details - The offering consists of Exchangeable Senior Notes with a due date in 2031, indicating a long-term financing strategy [1].

Core Insights - Holiday shoppers are willing to spend but are seeking value, leading to increased traffic and sales at Tanger's outlet centers [1][2] - Retailers are responding to consumer demand by offering promotions, resulting in full parking lots and steady activity during the holiday season [2] - Mastercard reported a 3.9% year-over-year increase in retail sales for November and December, while Visa noted a 4.2% increase in holiday retail spending [3] Retail Performance - Simon Property Group reported a 6.4% year-over-year increase in traffic at its malls and premium outlets during the Black Friday weekend, with many brands experiencing double-digit sales increases [4] - The overall retail environment is thriving, despite a decline in consumer confidence [4] Consumer Confidence - The Conference Board reported a 3.8-point drop in consumer confidence in December, marking the fifth consecutive decline, affecting various demographics [5] - Factors influencing consumer sentiment include prices, inflation, tariffs, and personal finance issues [6]

Core Insights - U.S. shoppers are willing to spend during the holiday season, driven by attractive deals despite declining consumer confidence and price anxiety [1][2] - Retailers are heavily discounting to attract consumers, resulting in sustained traffic and sales at Tanger's outlet centers [1][2] - Holiday traffic at Tanger's outlets has been strong, with full parking lots and consistent activity noted through November and December [2] Retail Spending Trends - U.S. retail spending increased by 4.2% year over year during the holiday season before adjusting for inflation, with in-store shopping accounting for 73% of total spending [3] - Online sales also contributed to growth, rising by 7.8% compared to the previous year [3] Consumer Confidence - Consumer confidence weakened in December, with the Conference Board's index dropping to 89.1, reflecting concerns over high prices and tariffs [4] - A recent survey indicated that 41% of Americans planned to spend less this holiday season, an increase of 6 percentage points from the previous year [5] Retailer Sentiment - Retailers express confidence in demand for 2026, indicating a positive outlook despite current consumer sentiment [5] - There is a trend among brands to control their own physical retail presence as department stores consolidate [6]

Consumer Confidence and Spending Trends - December consumer confidence data shows the fifth consecutive month of declines, reaching the lowest level since April [1] - Despite declining confidence, overall consumer spending is reported to be 4% higher than last year, indicating resilience among consumers [1] Holiday Spending Insights - The National Retail Federation (NRF) projects holiday spending to exceed one trillion dollars for the first time, highlighting a significant milestone [3] - Retail traffic in shopping centers remains strong, with full parking lots and active customer engagement observed [3] Retailer Strategies and Consumer Behavior - Retailers are discounting products to align with consumer expectations, leading to increased shopping activity [4] - Consumers are showing a preference for aspirational brands, purchasing items that may typically be above their price point but are available at value prices [6] Brand Performance - Notable brands such as Ralph Lauren, Gap, Kate Spade, Michael Kors, Coach, and Tory Burch are performing well in the current market [6]