SKT - Tanger Factory Outlets: Still Growing While Beating 2020 Expectations
2024-04-16 12:13:11 ET
Summary
- Tanger stock price has soared since June 2020.
- Financially strong companies like Tanger often recover and experience future growth despite initial challenges.
- Tanger's business model as an outlet mall owner provides flexibility and potential for higher profits compared to traditional malls.
- Chasing the yield back in fiscal year 2020 worked well despite the dividend cut everyone feared at the time.
- Investors should expect future growth from organic projects, purchases, and joint ventures.
Back in June 2020, I wrote an article on Tanger Factory Outlets ( SKT ) that it was time to chase the yield. Back then, the dividend was listed at more than $1.40 on the website. There was a lot of speculation about a dividend cut, but the dividend was raised on April 10 to an official annual rate of $1.10. The stock price has soared from $7.71 at the time of the published article to the current price above $26. The current yield on that original investment is still above average. This is now a recognized stock with a decent future. It may not be the bargain it once was. But good management is nearly always worth a consideration by an investor....
Tanger Factory Outlets: Still Growing While Beating 2020 Expectations