Tanger reports Q1 FFO 59c , consensus 57c

Reports Q1 revenue $150.4M, consensus $142.8M. Occupancy was 97.0% on March 31, 2026, compared to 95.8% on March 31, 2025 and 98.1% on December 31, 2025. On a same center basis, occupancy was 96.9% on March 31, 2026, compared to 95.8% on March 31, 2025 and 98.2% on December 31, 2025. Same center net operating income increased 2.6% to $100.5 million for the first quarter of 2026 from $97.9 million for the first quarter of 2025. The first quarter of 2026 included elevated snow removal costs, which were contemplated in the Company’s initial full-year guidance. “Tanger’s (SKT) successful execution of its growth strategy delivered another quarter of strong financial and operating results, contributing to an increase in our full-year guidance,” said Stephen Yalof, President and Chief Executive Officer. “Through our proven leasing, operating, and marketing platforms and underpinned by disciplined financial strategies, we continue to curate our merchandising, intensify our real estate, and execute our external growth initiatives. We achieved record leasing volume fueled by retailer demand and limited new supply. We are attracting new and younger shoppers by adding sought-after retailers, restaurants, and entertainment destinations that elevate our centers and drive incremental traffic and value.”