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Tanger Outlets(SKT) - 2023 Q4 - Annual Report
2024-02-21 21:08
United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 1-11986 (Tanger Inc.) Commission file number 333-3526-01 (Tanger Properties Limited Partnership) TANGER INC. TANGER PROPERTIES L ...
Tanger Outlets(SKT) - 2023 Q4 - Earnings Call Transcript
2024-02-16 17:34
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Q4 2023 Earnings Conference Call February 16, 2024 8:30 AM ET Company Participants Ashley Curtis - Assistant Vice President of Investor Relations Stephen Yalof - Director, President and Chief Executive Officer Michael Bilerman - Executive Vice President, Chief Financial Officer and Chief Investment Officer Doug McDonald - Senior Vice President, Finance and Capital Markets Justin Stein - Executive Vice President, Leasing Conference Call Participants Lizzy Doykan ...
Tanger Outlets(SKT) - 2023 Q3 - Quarterly Report
2023-11-07 21:22
United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number: 1-11986 (Tanger Factory Outlet Centers, Inc.) Commission file number: 333-3526-01 (Tanger Properties Limited Partnersh ...
Tanger Outlets(SKT) - 2023 Q3 - Earnings Call Transcript
2023-11-07 17:33
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Q3 2023 Earnings Conference Call November 7, 2023 8:30 AM ET Company Participants Ashley Curtis - Assistant VP, IR Steven Tanger - Executive Chair Stephen Yalof - Director, President and Chief Executive Officer Michael Bilerman - Executive Vice President and Chief Financial Officer Leslie Swanson - Executive Vice President, Chief Operating Officer Doug McDonald - Senior Vice President Finance and Capital Markets Conference Call Participants Floris Dijkum - Comp ...
Tanger Outlets(SKT) - 2023 Q3 - Earnings Call Presentation
2023-11-07 13:20
SC MYRTLE BEACH CHARLESTON HILTON HEAD SAVANNAH VT NASHVILLE ® BATON ROUGE SAN ANTONIO AUSTIN and Engaged Executive Team and Board Jessica Norman Executive Vice President, General Counsel and Secretary Steven B. Tanger Executive Chair of the Board Sandeep L. Mathrani Director Thomas J. Reddin Director Susan E. Skerritt Director Luis A. Ubiñas Director THIRD QUARTER 2023 7 Our Mission Our Vision To deliver the best value, experience and opportunity for our communities, stakeholders and partners Using custome ...
Tanger Outlets(SKT) - 2023 Q2 - Quarterly Report
2023-08-04 21:03
United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number: 1-11986 (Tanger Factory Outlet Centers, Inc.) Commission file number: 333-3526-01 (Tanger Properties Limited Partnership) T ...
Tanger Outlets(SKT) - 2023 Q2 - Earnings Call Transcript
2023-08-04 15:54
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Q2 2023 Earnings Conference Call August 4, 2023 8:30 AM ET Company Participants Ashley Curtis - Assistant VP, IR Steven Tanger - Executive Chair Stephen Yalof - President and CEO Michael Bilerman - EVP, CFO and Chief Investment Officer Doug McDonald - SVP Conference Call Participants Greg McGinnis - Scotiabank Todd Thomas - KeyBanc Capital Markets Samir Khanal - Evercore ISI Craig Mailman - Citi Caitlin Burrows - Goldman Sachs Floris van Dijkum - Compass Point ...
Tanger Outlets(SKT) - 2023 Q2 - Earnings Call Presentation
2023-08-04 13:12
SECOND QUARTER 2023 6 Stephen Yalof Director, President and Chief Executive Officer Retailer Value Proposition Safe Harbor SECOND QUARTER 2023This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities ...
Tanger Factory Outlet Centers, Inc. (SKT) The Nareit REITweek 2023 Investor Conference Call Transcript
2023-06-07 20:44
Summary of Tanger Factory Outlet Centers, Inc. Conference Call Company Overview - **Company**: Tanger Factory Outlet Centers, Inc. (NYSE: SKT) - **Industry**: Real Estate Investment Trust (REIT) focused on outlet shopping centers - **Management**: - Stephen Yalof - President, CEO & Director - Michael Bilerman - EVP, CFO & CIO - **Portfolio**: 36 shopping centers in the U.S. and 2 in Canada, with a new center opening in Nashville, Tennessee in October 2023 [1][4] Key Points and Arguments Management Changes and Strategy - New management since 2020 has led to new strategies, including welcoming non-traditional retailers to increase tenant diversity [3][4] - The company is adapting to changing consumer preferences, particularly post-COVID, by enhancing food and beverage offerings to increase customer dwell time [5][6] Retailer Engagement - The profile of outlet centers has evolved; new brands like Nike and Polo Ralph Lauren are now essential tenants [7] - The Nashville center will feature 14 brands new to the outlet format, indicating a shift towards attracting diverse retailers [7][8] Temporary Leasing Strategy - Approximately 10% of the portfolio consists of temporary tenants, a strategy that has been in place for a long time [8][9] - Short-term leases allow flexibility and can lead to long-term relationships with brands that find success in the outlet format [10][14] Tenant Retention and Pricing Power - Tenant retention rates have improved to over 90%, with double-digit renewal spreads indicating strong demand and pricing power [16][17] - The company aims to optimize tenant mix by replacing less productive tenants with more profitable ones [17] Development Projects - The Nashville project represents a $146 million investment with expected yields of 7% to 7.5%, contributing to cash flow growth [25][29] - The company is exploring outparcel opportunities, such as restaurants and hotels, to enhance customer experience and increase revenue [24][26] Acquisition Strategy - The company is in a strong financial position with a net debt-to-EBITDA ratio of 5x and $242 million in cash, allowing for potential acquisitions [29][30] - The focus is on expanding into lifestyle or hybrid formats that align with the outlet business model [30][32] Market Conditions and Consumer Behavior - Sales per square foot have increased to approximately $450, reflecting a 15% rise since pre-COVID levels [47] - The company targets value-oriented consumers, positioning itself as a provider of branded products at competitive prices [49] Financial Health and Cost of Capital - The company received a BBB rating from Fitch, leading to reduced borrowing costs and an annual savings of about $1 million [40][41] - The balance sheet is robust, allowing for strategic capital deployment while maintaining a low payout ratio [34][41] Food and Beverage Opportunities - The company is shifting towards more bespoke food and beverage experiences, moving away from traditional food courts [55] - New partnerships with popular brands like Shake Shack are expected to drive traffic and enhance the shopping experience [56][59] Additional Insights - The company is actively monitoring tenant credit quality and has no significant issues with tenants on the watch list [51][52] - The addition of food and beverage options has positively impacted customer traffic and retention [59] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Tanger Factory Outlet Centers' adaptive strategies in a changing retail landscape.
Tanger Outlets(SKT) - 2023 Q1 - Quarterly Report
2023-04-28 20:06
United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number: 1-11986 (Tanger Factory Outlet Centers, Inc.) Commission file number: 333-3526-01 (Tanger Properties Limited Partnership) ...