SKT - Here's How Tanger Factory Outlet Centers Can Afford Its 3.9% Dividend Yield
2023-08-13 05:03:00 ET
Real estate investment trusts (REITs) have struggled lately as rising interest rates have increased their interest expense, and declining commercial real estate prices have made financing harder to get. Office space is probably struggling the most, but retail is having its issues as well. That said, not all retail is the same, and some retail concepts are faring better than others. Tanger Factory Outlet Centers (NYSE: SKT) is seeing rising occupancy and rents. What are they doing differently?
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Tanger Factory Outlet Centers is one of the leading outlet center REITs in the United States. As of June 30, 2023 Tanger owned 29 outlet centers with 11.3 million square feet of gross leasable area. The company's outlet centers contain 2,300 stores with 600 store brands. Tanger Factory Outlet Centers also has a partial interest in six other centers.
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Here's How Tanger Factory Outlet Centers Can Afford Its 3.9% Dividend Yield