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Tanger Q3 rental revenue and net income rise, company lifts 2026 guidance

By Reuters News


Overview

  • US outlet mall operator's Q3 rental revenue and net income both rose yr/yr

  • Company raised full-year 2026 guidance for net income and FFO per share

  • Quarterly dividend increased 7% from prior year


Outlook

  • Tanger raises 2026 net income guidance to $1.08-$1.12 per share from $1.06-$1.13

  • Company now sees 2026 FFO per share at $2.49-$2.53, up from $2.45-$2.52

  • Tanger expects 2026 same center NOI growth of 3.5%-4.25%


Result Drivers

  • TENANT DEMAND - Co said strong retailer demand and limited new supply supported portfolio performance

  • RENTAL RATE SPREADS - Co reported blended average rental rate spreads of 11% on leases executed in the past year

  • SAME CENTER NOI GROWTH - Same center net operating income rose 4.2% yr/yr in Q3, supported by leasing and operating strategies


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Rental Revenue

$149.05 mln

Q3 Net Income Attributable to Tanger Inc

$33.6 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the commercial reits peer group is "buy."

  • Wall Street's median 12-month price target for Tanger Inc. is $41.00, about 9% above its November 3 closing price of $37.61

  • The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 36 three months ago


Reuters Recommended Reads

  • Nov 2 - Realty Income's Q3 revenue beats; raises 2026 AFFO per share outlook

  • Nov 2 - Acadia Realty Trust Q3 revenue beats estimates, FFO rises

  • Nov 4 - NNN REIT Q3 revenue beats estimates, raises 2026 disposition guidance


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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