Tanger Inc. raised its full-year 2026 core FFO guidance to a range of $2.45 to $2.52 per share, up from the prior $2.42 to $2.50, driven by strong leasing momentum and the acquisition of Levis Commons Town Center. Second-quarter core FFO reached $0.64 per share, compared with $0.58 a year earlier, while same-center net operating income grew 3.5%. The company reported quarter-end occupancy of 96.6%, a slight dip from the first quarter due to the proactive recapture of Saks Off 5th space, with backfill deals already in the pipeline and temporary tenants bridging select spaces. Blended rent spreads were 10.5%, marking the 18th consecutive quarter of positive spreads, and average tenant sales rose 5% year-over-year to $487 per square foot. Tanger also highlighted its $1 billion of total liquidity, which positions it to redeem $350 million of unsecured bonds maturing in early September, and announced a 7% dividend increase to $0.3125 per share.
Tanger Factory Outlet Centers IncRaised 2026 core FFO guidance, strong Q2 results, and announced dividend increase.
