Tanger Factory Outlet Centers, Inc. Q3 2025 Earnings Recap

SKT Q3 2025 November 6, 2025

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Tanger Inc. delivered strong third quarter results, highlighted by a record leasing volume and a robust 11% increase in core FFO, prompting an upward revision of full-year guidance.

Earnings Per Share Beat

$0.60 vs $0.58 est.

+3.4% surprise

Revenue Miss

145208000 vs 145908510 est.

-0.5% surprise

Market Reaction

1-Day -0.8%

5-Day +2.6%

30-Day -1.15%

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Key Takeaways

Core FFO rose to $0.60 per share, up 11% year-over-year, benefiting from solid same-center NOI growth of 4%.
Achieved record leasing activity with over 600 transactions, contributing to a portfolio occupancy rate of 97.4%, an increase of 80 basis points.
Enhanced external growth strategy with the acquisition of Legends Outlets in Kansas City, adding to a portfolio of 6 new centers in 2 years.
Ten consecutive quarters of positive rent spreads, with blended rent spreads exceeding 10% and increased lease term durations.
Strategic marketing initiatives, including an early back-to-school campaign and a partnership with Unrivaled Sports, have driven high customer engagement and foot traffic.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit SKT on AllInvestView.

Next Q1 2026