Tanger Factory Outlet Centers (NYSE: SKT) released fourth-quarter 2019 results on Monday, and at a glance its initial 4.5% post-earnings decline seemed to indicate investors weren't pleased.
Of course, that drop was partly fueled by the broader market's decline on coronavirus fears. And it ignores the fact that the outlet-center real estate investment trust (REIT) not only exceeded expectations, but also modestly raised its already massive dividend (which boasts an annual yield of 9.1% at current prices). Indeed, Tanger stock has all but recovered from its early plunge in the days since.
So starting with its headline numbers, let's look at how Tanger ended 2019, as well as what investors should be watching in the coming year.