SKT
- Tanger Factory Outlet Centers, Inc.
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Overview
Company Summary
Tanger Factory Outlet Centers, Inc. (SKT) is a real estate investment trust (REIT) that specializes in the development, ownership, and operation of outlet shopping centers.
The company's primary focus is on building and managing outlet centers across the United States and Canada. These centers are strategically located in areas that attract a large number of shoppers, aiming to provide a convenient shopping experience for consumers looking for discounted brand-name merchandise.
Tanger's outlet centers typically have a variety of stores offering a wide range of products, including apparel, footwear, accessories, home goods, electronics, and more. These stores offer their products at reduced prices compared to traditional retail locations. Brands at Tanger centers include well-known and popular companies that often sell excess inventory, previous season's merchandise, or factory seconds to provide customers with discounted prices.
Tanger Factory Outlet Centers acts as the landlord for its centers, leasing space to various retailers, who operate their individual stores. The company generates revenue primarily through base rent, additional tenant reimbursements, and percentage of sales from each tenant. Tanger also has indirect interests in joint ventures, partnerships, and other real estate related investment activities.
Tanger is known for its focus on customer experience, providing amenities such as ample parking, food courts, outdoor spaces, and frequent events to enhance the shopping environment. The company also has a TangerClub program, offering exclusive perks and rewards to its loyal customers.
As a REIT, Tanger Factory Outlet Centers must distribute at least 90% of its taxable income to shareholders in the form of dividends, making it an attractive option for investors seeking stable income from real estate holdings.
In summary, Tanger Factory Outlet Centers, Inc. operates as a real estate investment trust, specializing in the development, ownership, and operation of outlet shopping centers that offer discounted brand-name merchandise in strategic locations across the United States and Canada.