Tanger Q1 net income $0.19, FFO $0.45, occupancy 94.3%, raises guidance

TANGER INC.

2022-Q1 EPS reported $0.19 revenue$108,868,000

Net income $0.19 per diluted share ($20.3M); Core FFO $0.45 per share ($49.4M).
Total portfolio occupancy including JVs: 94.3% vs 92.0% year ago, up 230 bps.
Trailing 12-month tenant sales $464 psf, up 18.1% vs pre-pandemic 2019.
Blended rent spreads turned positive; company raises earnings guidance.

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