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REIT owning and operating outlet shopping centers across the United States.
REIT owning and operating outlet shopping centers across the United States.
Collects base rent from retail tenants on multi-year leases, plus extra percentage rent when a store's sales pass an agreed level, and recovers part of the operating costs from tenants. The centers are open-air. As a REIT it must pay out most of its taxable income to shareholders as dividends.
Moat: narrow (scale, brand, installed base). A long-established, well-located outlet-center portfolio is difficult for new entrants to replicate.
Headquarters: Greensboro, North Carolina, US · Founded: 1981 · Employees: 407
Size Tanger (SKT) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $4.45B, the 1273rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $38.70 on 6 Nov 2026.
Performance Over six months the shares gained 6.4%, against -2.3% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 11.4% over the last twelve months (peer median -0.2%); the operating margin is 30.2% (peer median 42.5%).
Valuation It trades at 6.60× book value against a peer median of 1.15× (most expensive of 21).
Price implies The share price implies a return on equity of about 51.9%; Tanger delivers 19.3%, so the price asks more than the business earns today.
Short interest Short interest is 6.4% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $612M | $582M | $526M | $464M | $443M |
| Revenue growth | — | +11% | +13% | +5% | — |
| Gross profit | $266M | $254M | $229M | $192M | $187M |
| EBITDA | $344M | $326M | $289M | $243M | $227M |
| Net income | $126M | $114M | $97.7M | $98.0M | $81.2M |
| Free cash flow | $197M | $203M | $156M | $237M | $181M |
| Capital expenditure | $118M | $101M | $111M | $3.10M | $47.4M |
| Total debt | $1.95B | $1.72B | $1.53B | $1.54B | $1.53B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Tanger SKT | $4.45B | +6% | +11% | 19% | 6.60× | 51.9% |
| Simon Property SPG | $73.9B | +14% | +15% | 135% | 16.82× | 143.3% |
| Macerich MAC | $7.04B | +14% | +9% | -14% | 2.50× | 33.9% |
| Kimco Realty KIM | $17.0B | +10% | +3% | 7% | 1.67× | 13.9% |
| Federal Realty Investment Trust FRT | $9.74B | -2% | +8% | 14% | 3.14× | 23.7% |
| Brixmor Property BRX | $9.21B | +1% | +5% | 14% | 3.05× | 23.1% |
| Kite Realty Group Trust KRG | $5.04B | -4% | -7% | 12% | 1.84× | 14.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SKT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.8% | +3.6% | 3rd highest of 21 |
| 6-month return | +6.4% | -2.3% | 6th highest of 21 |
| Return on equity | 19.3% | 5.8% | highest of 21 |
| Price / book | 6.60× | 1.15× | most expensive of 21 |
| Trailing P/E | 35.5× | 21.0× | 3rd most expensive of 19 |
| ROE the price implies | 51.9% | 8.0% | most demanding of 21 |
| ROE delivered | 19.3% | 5.5% | highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Tanger SKT | United States | $4.45B | +6% | +11% | 19% | 6.60× | 51.9% | 19.3% |
| Dexus DXS.AX | Australia | $4.44B | 0% | -28% | 5% | 0.65× | 8.0% | 4.9% |
| Apple Hospitality REIT APLE | United States | $4.46B | +34% | +1% | 6% | 1.42× | 12.2% | 5.5% |
| Starwood Property Trust STWD | United States | $4.46B | -32% | +11% | 3% | 0.69× | 8.0% | 3.4% |
| Mapletree Logistics Trust M44U.SI | Singapore | $4.47B | -6% | -1% | 3% | 0.87× | 5.7% | 3.3% |
| RioCan Real Estate Investment Trust REI-UN.TO | Canada | $4.41B | -3% | -13% | 7% | 0.86× | 7.7% | 6.9% |
| Nippon Prologis REIT 3283.T | Japan | $4.37B | -8% | +9% | 6% | 1.39× | 6.6% | 6.0% |
| EPR Properties EPR | United States | $4.56B | +2% | +7% | 13% | 1.95× | 16.8% | 12.7% |
| Americold Realty Trust COLD | United States | $4.57B | +8% | 0% | -16% | 1.89× | 15.5% | -16.5% |
| Keppel DC REIT AJBU.SI | Singapore | $4.67B | -6% | +30% | 11% | 1.26× | 6.8% | 11.4% |
| General de Galerias Comerciales GGC.MC | Spain | $4.70B | 0% | +3% | 18% | 3.99× | 13.5% | n/a |
| Kilroy Realty KRC | United States | $4.21B | +3% | -4% | 1% | 0.80× | 9.3% | 0.5% |
| Cousins Properties CUZ | United States | $4.87B | +11% | +8% | 0% | 1.10× | 11.4% | 0.3% |
| Japan Metropolitan Fund Investment 8953.T | Japan | $4.87B | -8% | 0% | 7% | 1.17× | 4.8% | 7.1% |
| Mapletree Pan Asia Commercial Trust N2IU.SI | Singapore | $4.89B | -7% | -5% | 3% | 0.68× | 5.0% | 2.8% |
| Glp J-reit 3281.T | Japan | $4.00B | -2% | -6% | 7% | 1.43× | 5.4% | 6.8% |
| Japan Real Estate Investment 8952.T | Japan | $4.98B | -10% | -1% | 7% | 1.41× | 6.1% | 6.7% |
| Kite Realty Group Trust KRG | United States | $5.04B | -4% | -7% | 12% | 1.84× | 14.6% | 11.5% |
| Shaftesbury Capital SHC.L | United Kingdom | $3.91B | +16% | +9% | 10% | 0.71× | 10.2% | 9.7% |
| Mapletree Industrial Trust ME8U.SI | Singapore | $3.89B | -10% | -5% | 4% | 1.07× | 5.0% | 4.1% |
| SL Green Realty SLG | United States | $3.88B | +11% | +9% | -3% | 1.12× | 14.6% | -3.1% |