Tanger reports Q3 core FFO 60c, consensus 58c

Reports Q3 revenue $145.21M, consensus $138.85M. “The successful execution of our strategic plan 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. “We are seeing robust tenant demand with record leasing volume and continued growth from both existing and new tenants, including additional restaurants, entertainment destinations, and non-traditional outlet retailers. Our digital and on-center marketing initiatives are accelerating sales momentum and engaging customers across a wider demographic spectrum. We also advanced our strategic external growth with the acquisition of Legends Outlets, rebranded as Tanger (SKT) Kansas City at Legends, representing the sixth center added to our portfolio over the past two years.”