Tanger: 4% Yield, Re-Tenanting Upside, Low FFO Multiple

Tanger Inc. (NYSE:SKT) is a well-managed retail-focused real estate investment trust that makes a strong value proposition for long-term passive income investors based on robust same center net operating income growth, high occupancy in its shopping center portfolio and upside related to lease expirations. The trust has a low FFO multiple and pays out just about half of its funds from operations. With rental spreads also being widely positive, I think that Tanger has an opportunity for a re-rating and a com ...