SKT

Real Estate

Tanger Inc. · REIT - Retail · $4B

UQS Score — Balanced Preset
46.3
Below Average

Tanger Inc. scores 46.3/100 using the Balanced preset.

UQS vs Real Estate Sector
SKT
46.3
Sector avg
38.4
Quality
Good
Moat
Neutral
Growth
Weak
Risk
Weak
Valuation
Neutral

What is Tanger Inc.?

Tanger Inc. is a publicly traded REIT specializing in outlet and open-air retail shopping destinations across the United States and Canada. With over four decades of experience, the company operates one of the most recognized portfolios of outlet centers in North America.

Tanger owns, operates, and manages outlet and open-air lifestyle centers, leasing space to brand-name retailers seeking high-traffic, value-oriented shopping environments. The company generates revenue primarily through tenant rents and fees across its portfolio of 38 outlet centers and additional managed properties. Its centers span over 15 million square feet in 20 U.S. states and Canada, typically positioned in tourist destinations and strong consumer markets.

Tanger has been publicly traded since 1993 and is headquartered in Greensboro, North Carolina.

  • Outlet shopping center ownership and operation
  • Open-air lifestyle retail destinations
  • Third-party center management services
  • Tenant leasing across 700-plus brand-name companies
  • Consumer-facing retail experience programming

Is SKT a Good Stock to Buy?

UQS Score rates SKT as Below Average overall, reflecting meaningful headwinds across several key dimensions.

Among the five pillars, Quality stands out as the relative bright spot — suggesting the business maintains a reasonable operational foundation for a retail REIT. Valuation is rated Neutral, meaning the stock is neither clearly cheap nor obviously expensive relative to its fundamentals.

Growth and Risk are both rated Weak, which signals limited near-term expansion potential and elevated exposure to factors that could pressure returns. Moat is Neutral, indicating no strong structural competitive advantage relative to peers.

See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →

Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.

Does SKT pay dividends?

Yes — Tanger Inc. pays a dividend.

Tanger pays a regular dividend, consistent with its structure as a real estate investment trust — REITs are required to distribute the majority of taxable income to shareholders. Income-focused investors often look to SKT for this reason. The sustainability of the dividend depends on occupancy trends and cash flow generation across the outlet portfolio.

When does SKT report earnings?

Tanger Inc. reports earnings on a quarterly cadence, typical for US-listed REITs.

Outlet center REITs like Tanger are closely watched for occupancy rates, same-center net operating income trends, and leasing spreads. Growth and Risk pillar ratings suggest investors should monitor whether portfolio performance is keeping pace with broader retail real estate conditions.

For the most recent quarter's results, visit Tanger Inc.'s investor relations page directly.

SKT Price History

+156.1% over 5Y

Monthly close, adjusted for stock splits and dividend reinvestment.

Return Calculator

What if I invested in Tanger Inc.?

$
Today it would be worth
$28,460
That's a +185% total return, or +23.3% annualized.

Based on Tanger Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.

SKT Long-term Outlook

The UQS Growth pillar for SKT is rated Weak, pointing to limited near-term expansion in earnings or portfolio scale. The Risk pillar is also Weak, which reflects sensitivity to consumer spending cycles, tenant credit quality, and the ongoing evolution of physical retail. While the Quality pillar provides some stability, the combination of weak growth and elevated risk creates a cautious fundamental outlook for the stock.

Growth drivers

  • Potential occupancy gains in tourist-heavy outlet markets
  • Tenant mix upgrades attracting higher-traffic brands
  • Selective open-air lifestyle center expansion

Key risks

  • Consumer spending slowdowns reducing outlet traffic
  • Tenant bankruptcies or lease non-renewals pressuring occupancy
  • Rising interest rates increasing REIT financing costs

SKT vs Peers

Tanger operates in a competitive retail real estate landscape alongside other income-focused REITs and open-air center operators.

CRT-UN.TOSKT scores lower
CT Real Estate Investment Trust

CT REIT is a Canadian REIT anchored primarily by Canadian Tire stores, giving it a single-tenant concentration model distinct from Tanger's multi-brand outlet approach.

SRU-UN.TOSKT scores lower
SmartCentres Real Estate Investment Trust

SmartCentres focuses on Walmart-anchored open-air centers in Canada, offering a different geographic and anchor-tenant profile compared to Tanger's U.S.-centric outlet strategy.

PECOSimilar UQS
Phillips Edison & Company, Inc.

Phillips Edison specializes in grocery-anchored neighborhood shopping centers, targeting everyday essential retail rather than the value-fashion outlet niche Tanger serves.

Frequently Asked Questions

What does Tanger Inc. do?

Tanger owns and operates outlet and open-air retail shopping centers across the United States and Canada. The company leases space to hundreds of brand-name retailers, generating income through rents and fees. Its centers are typically located in tourist destinations and high-traffic consumer markets, covering over 15 million square feet.

Does SKT pay dividends?

Yes, Tanger pays a regular dividend. As a REIT, the company is required to distribute most of its taxable income to shareholders, making dividend payments a core part of its investor proposition. Income-focused investors often include REITs like SKT in yield-oriented portfolios.

When does SKT report earnings?

Tanger reports earnings quarterly, in line with standard practice for U.S.-listed REITs. For the exact schedule and most recent results, check Tanger Inc.'s official investor relations page.

Is SKT a good stock to buy?

UQS Score rates SKT as Below Average overall. The Quality pillar is the relative strength, while Growth and Risk are both rated Weak. Valuation is Neutral. Investors should weigh the dividend income against the limited growth profile and elevated risk factors before making a decision.

Is SKT overvalued?

The UQS Valuation pillar for SKT is rated Neutral, suggesting the stock is not clearly overpriced or deeply discounted relative to its fundamentals. For the complete valuation metrics and pillar detail, a UQS Pro account provides the full breakdown.

How does SKT compare to its competitors?

Tanger's outlet-focused model sets it apart from peers like Phillips Edison, which targets grocery-anchored centers, and Canadian REITs such as CT REIT and SmartCentres, which rely on anchor tenants like Canadian Tire and Walmart. Tanger's multi-brand, value-fashion outlet niche is relatively specialized within the broader retail REIT space.

What is SKT's market cap bracket?

Tanger Inc. falls in the mid-cap category, placing it among medium-sized publicly traded companies. Mid-cap REITs can offer a balance between growth potential and income stability, though they may carry more volatility than large-cap peers.

Who founded Tanger Inc.?

Tanger's founding history is widely available through public sources and the company's own investor materials. The company has operated in the outlet retail real estate space for over 43 years and has been publicly traded since 1993.

Is SKT a long-term quality investment?

From a long-term quality standpoint, SKT's UQS profile shows a Good Quality pillar but Weak Growth and Risk ratings. Long-term investors should consider whether the dividend income and operational stability outweigh the limited growth trajectory and risk exposure over time.

What is the main competitive advantage of Tanger Inc.?

Tanger's primary competitive position comes from its scale and specialization in outlet retail — a format that attracts value-seeking shoppers and brand-name tenants looking for off-price distribution. However, the UQS Moat pillar is rated Neutral, indicating this advantage is not considered especially durable relative to the broader sector.

What sector does SKT belong to?

SKT belongs to the Real Estate sector, specifically operating as a retail-focused REIT. Retail REITs are sensitive to consumer spending trends, e-commerce competition, and interest rate movements — all factors that influence the UQS Risk and Growth pillar ratings for Tanger.

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Pro Analysis

SKT — Score History

3540455055Apr 2Apr 12Apr 22May 2May 12May 22May 24v5
Score changes· 15 most recent
DateUQSQualityMoatGrowthRiskValueChange
May 21, 202646.473.347.034.04.958.6-0.5
May 14, 202646.973.447.034.64.960.9+0.3
May 12, 202646.673.147.034.64.959.4+2.3
May 7, 202644.370.347.033.71.453.4-0.1
May 5, 202644.470.347.033.71.454.3+0.5
May 4, 202643.970.347.033.71.450.80.0
May 3, 202643.970.347.033.61.450.8+0.1
May 1, 202643.870.347.033.61.450.5-0.8
Apr 26, 202644.670.347.035.31.453.3+0.2
Apr 19, 202644.470.347.035.31.452.1-0.2

SKT — Pillar Breakdown

Quality

73.4/100 (25%)

Tanger Inc. shows solid profitability with healthy returns on capital and reasonable margins.

Return on EquityStrong

Profitability relative to shareholders' equity.

Operating ProfitabilityModerate

Ability to convert revenue into operating profit.

Net ProfitabilityStrong

Bottom-line profit as a share of revenue.

Cash GenerationModerate

Free cash flow relative to market value.

Growth

33.8/100 (20%)

Tanger Inc. faces growth headwinds with declining or stagnant revenue trends.

Recent Revenue TrendWeak

Revenue trajectory over the last twelve months.

3Y Revenue CAGRWeak

Compound annual revenue growth rate over 3 years.

EPS GrowthModerate

Year-over-year earnings per share growth.

Forward Revenue OutlookWeak

Analyst consensus for future revenue growth.

Forward EPS GrowthModerate

Analyst consensus for future earnings growth.

Risk

4.9/100 (15%)

Tanger Inc. presents elevated risk with concerns around leverage or financial stability.

Debt/EquityWeak

Total debt relative to shareholder equity.

Current RatioWeak

Short-term liquidity — ability to pay near-term obligations.

Interest CoverageWeak

Earnings capacity relative to interest payments.

Valuation

58.2/100 (15%)

Tanger Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.

Earnings YieldWeak

Inverse of forward P/E — higher yield means cheaper stock.

Price to Free Cash FlowStrong

How many years of FCF the market cap represents.

PEG RatioModerate

P/E relative to earnings growth — lower is more attractive.

EV/EBITDA vs SectorModerate

Enterprise value multiple relative to sector median.

Moat

47/100 (25%)

Tanger Inc. possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for SKT.

Score Composition

Quality
73.4×25%18.4
Growth
33.8×20%6.8
Risk
4.9×15%0.7
Valuation
58.2×15%8.7
Moat
47.0×25%11.8
Total
46.3Below Average

Financial Data

More Stock Analysis

How is the SKT UQS Score Calculated?

The UQS (Unified Quality Score) for Tanger Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.

Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.

Moat (25%) assesses Tanger Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.

Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.

Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.

Valuation (15%) measures whether Tanger Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.

Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.