earnings
confidence high
sentiment positive
materiality 0.75
Tanger Q4 2021 Core FFO $0.45; occupancy 95.3%, tenant sales $468/sq ft
TANGER INC.
- Net income $0.12/share ($13.0M) vs $0.00 in Q4 2020; includes $7.0M impairment.
- Core FFO $0.45/share ($49.6M) vs $0.54 in Q4 2020; full year Core FFO $1.76 ($188.4M).
- Portfolio occupancy 95.3% (+310bps YoY); tenant sales $468/sq ft, exceeding 2019 by ~18%.
- Cash blended rent spreads improved 650bps YoY; percentage rentals more than doubled vs 2019.
- Full year 2021 Core FFO $1.76/share ($188.4M) vs $1.57 in 2020.