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Tanger (SKT)
NYSE:SKT
Holding SKT?
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.2Last Year’s EPS
0.22Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 01, 2018
|% Change Since: -1.80%
|Next Earnings Date:Jul 31, 2018
Earnings Call Sentiment|Positive
The earnings call demonstrates strong financial performance with increased guidance and positive leasing activity, though there were challenges related to natural disasters and strategic retenanting. The overall sentiment is positive due to the outweighing highlights.Company Guidance
During the third quarter 2024 earnings call for Tanger Inc., the company reported robust financial results and increased guidance for the year. Core funds from operations (FFO) reached $0.54 per share, marking an 8% increase from the previous year, supported by a 4.3% increase in same-center net operating income (NOI). The company's successful leasing activity resulted in a 97.4% occupancy rate, with 543 leases covering 2.6 million square feet signed over the trailing 12 months. Tanger achieved an 11th consecutive positive rent spread quarter, with a blended increase of 14% on comparable space, including retenanting spreads of 46% and renewal spreads of 12%. The company's financial position is strong, with a net debt to adjusted EBITDA ratio of 5x, down from 5.8x at the end of the previous year, and full availability on its $620 million lines of credit. In light of these achievements, Tanger raised its full-year guidance for core FFO per share to a range of $2.09 to $2.13, representing growth of 7% to 9%, and increased its same-center NOI growth expectations to 4.25% to 5%.Increased Core FFO and Guidance
Core FFO for the quarter reached $0.54 per share, an 8% increase from the prior year. The company increased full year guidance, estimating core FFO growth of 7% to 9%.
Strong Leasing Activity
The company executed 543 leases totaling 2.6 million square feet over the trailing 12 months, achieving an 11th consecutive quarter of positive rent spreads with a blended increase of 14%.
Solid Occupancy Rates
Occupancy ended the quarter at 97.4%, reflecting strong demand and successful retenanting efforts.
Balance Sheet and Dividend Increase
Net debt to adjusted EBITDA decreased to 5x, and the quarterly dividend was increased by 5.8% on an annualized basis.
Successful Center Remerchandising
The company continues to attract new, aspirational brands like Sephora, driving traffic and enhancing shopper experience.
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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 |
|---|---|---|---|
| Nov 06, 2024 | $33.80 | $35.45 | +4.88% |
| Aug 01, 2024 | $28.51 | $27.75 | -2.67% |
| Apr 30, 2024 | $27.85 | $26.95 | -3.23% |
| Feb 15, 2024 | $26.96 | $27.87 | +3.38% |
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 Feb 19, 2025, TBA Not Confirmed.
What is Tanger (SKT) earnings time?
Tanger (SKT) earnings time is at Feb 19, 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 2024 (Q4) is 0.2.
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