Tanger Q1 net income $0.22/sh, Core FFO $0.46/sh; raises full-year guidance

TANGER INC.

2023-Q1 EPS reported $0.22 revenue$108,943,000

Net income $0.22/sh ($23.3M) vs $0.19/sh ($20.3M) YoY.
Core FFO $0.46/sh ($51.2M) vs $0.45/sh ($49.4M) prior year; FFO $0.47/sh.
Blended rent spreads +13.8%; portfolio occupancy up 220 bps YoY.
Full-year 2023 guidance raised; recent annual dividend increased by over 11%.
Nashville center (37th property) under construction with leasing progress.

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