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Tanger (SKT)
NYSE:SKT
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.2Last Year’s EPS
0.2Same Quarter Last Year
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 19, 2025
|% Change Since: 3.87%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive sentiment with strong financial performance, high occupancy rates, and successful acquisitions. However, there were some concerns regarding tenant credit issues and potential increased competition in certain markets.Company Guidance
During the call, Tanger Inc. provided guidance for the fiscal year 2025, projecting core FFO per share growth between 4% and 8%, with a range of $2.22 to $2.30. This guidance includes recent acquisitions of Pinecrest and The Promenade at Chenal, which are expected to deliver approximately 8% returns in their first year. Same-center NOI growth is anticipated to be between 2% and 4%. The company ended 2024 with strong financial performance, including a full-year core FFO per share increase of 8.7% over 2023, driven by a 5.1% rise in same-center NOI. Tanger's balance sheet remains strong, with low leverage and ample liquidity, supported by the sale of 2.6 million shares under the ATM program and forward sale agreements for an additional 1.9 million shares. The company's occupancy rate reached 98%, and it achieved 12 consecutive quarters of positive rent spreads, with total rent spreads of 50% for the year.Strong Fourth Quarter Performance
Tanger delivered a strong fourth quarter, with full-year core FFO per share up 8.7% from the prior year, driven by a 5.1% increase in same center NOI. Traffic and comparable sales grew for both the quarter and the year.
High Occupancy Rates
Center occupancy was 98%, up 70 basis points year-over-year and 60 basis points for the quarter. Same center occupancy was 98.2%, up 90 basis points for the year and 80 basis points for the quarter.
Successful Acquisitions
Tanger acquired The Promenade at Chenal in Little Rock and Pinecrest in Cleveland, adding approximately 910,000 square feet to the portfolio with expected 8% first-year returns. These acquisitions were made with cash on hand and available liquidity.
Positive Rent Spreads
Tanger reported positive rent spreads for 12 consecutive quarters, with total rent spreads of 50% for the year, including 38% spreads on re-tenanted space and 13% on renewed space.
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SKT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SKT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 19, 2025 | $34.59 | $35.93 | +3.87% |
| Nov 06, 2024 | $33.52 | $35.16 | +4.89% |
| Aug 01, 2024 | $28.27 | $27.52 | -2.65% |
| Apr 30, 2024 | $27.62 | $26.73 | -3.22% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Tanger (SKT) report earnings?
Tanger (SKT) is schdueled to report earning on Apr 30, 2025, TBA Not Confirmed.
What is Tanger (SKT) earnings time?
Tanger (SKT) earnings time is at Apr 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SKT EPS forecast?
SKT EPS forecast for the fiscal quarter 2025 (Q1) is 0.2.
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