Tanger Inc.

Overview Key strengths Key risks Niche portfolio of open-air retail outlet centers is well-diversified across markets and tenants and supports stability in cash flow streams. Portfolio?s small scale magnifies operating performance disruptions relative to peers with larger asset bases. Senior management team is experienced, with a track record of committing to conservative financial policies through economic cycles. Cautious consumer spending could pressure occupancy, leasing activity, and the portfolio?s growth prospects. Strong balance sheet and ample liquidity position help maintain key credit metrics despite some pressure. Modest risk related to external growth activity. Tanger Inc.?s strong leasing activity in 2023 to support sound operating performance over the next two years despite some pressure from a mixed macroeconomic backdrop. Tanger reported solid

...We expect Tanger Inc.'s strong leasing activity in 2023 to support sound operating performance over the next two years despite some pressure from a mixed macroeconomic backdrop. Tanger reported solid operating performance in 2023 as it benefited from solid overall consumer spending, which was buoyed by a resilient labor market and retailer credit quality holding up despite high interest rates and challenging capital market conditions. As of...

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