This Retail REIT Just Shattered Expectations

·4-min read

Years of e-commerce competition took their toll on many mall-based retailers, and Tanger Factory Outlet Centers (NYSE: SKT) was feeling the pain. In fact, the REIT's funds from operations (FFO) had declined year over year in 2019. Tanger got a new CEO in 2021 and has taken a targeted approach to getting the best tenants to fill its empty spaces, and the early results are very encouraging.

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