tanger factory outlet center (SKT) Key Developments
Tanger Factory Outlet Centers, Inc. Declares Dividend for the Second Quarter Ended June 30, 2014 Payable on August 15, 2014
Jul 10 14
Tanger Factory Outlet Centers Inc. announced that its Board of Directors declared a quarterly dividend of $0.24 per share for the second quarter ended June 30, 2014. A cash dividend of $0.24 per share will be payable on August 15, 2014 to holders of record on July 30, 2014.
Tanger Factory Outlet Centers Inc. Announces Expansion Plans
Apr 30 14
Tanger Factory Outlet Centers Inc. announced that the company plans to open a 65,000 square foot expansion of Tanger Outlets Westgate located in Glendale, Arizona, a 25,000 square foot expansion of Tanger Outlets in Branson, Missouri, and a 21,000 square foot expansion of Tanger outlets in Park City, Utah. In addition, the company's 2015 projects are well underway with 2 of the 4 projects already under construction. Tanger outlets in Foxwoods in Mashantucket, Connecticut at Foxwoods Resort Casino will be unique within the Tanger portfolio. The 314,000 square foot center will feature about 80 brand name and designer outlet centers when complete. The company currently expects second quarter 2015 opening for this project which will be consolidated for financial reporting purposes as a result of the company's controlling ownership interest. In Savannah, Georgia the company and the company's 50-50 joint venture partner are developing a Tanger outlet center located on the highly visible site on I-95 near the Savannah International Airport in Pooler, Georgia. Savannah welcomes 12 million visitors annually. The company expects this location to capitalize on the popularity of the Tanger outlets brand in the region and to provide marketing and management synergies with the company's other 7 centers in Georgia and South Carolina. When complete, the initial phase of this center will include approximately 385,000 square feet and will feature about 90 upscale brand name and designer outlet stores. Currently, the company expects this center to open in the second quarter of 2015.
Tanger Factory Outlet Centers Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Year Ending December 31, 2014
Apr 29 14
Tanger Factory Outlet Centers Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, total revenues were $102,842,000 against $88,689,000 a year ago. Operating income was $28,427,000 against $28,515,000 a year ago. Net income available to common shareholders of the company was $14,187,000 against $15,245,000 a year ago. Diluted earnings per common share were $0.15 against $0.16 a year ago. Funds from operations (FFO) were $43,747,000 against $41,445,000 a year ago. Funds from operations available to common shareholders were $42,843,000 against $41,013,000 a year ago. Diluted funds from operations available to common shareholders per share were $0.43 against $0.42 a year ago. Adjusted FFO was $44,413,000 against $41,398,000 a year ago. AFFO per share was $0.45 against $0.42 a year ago.
For the year ending December 31, 2014, diluted net income per share is expected to be between $0.76 and $0.82. Diluted FFO per share is expected to be between $1.91 and $1.97 a year ago. Diluted AFFO per share is expected to be between $1.93 and $1.99.
Tanger Factory Outlet Centers Inc. Presents at REITWeek: NAREIT's Investor Forum, Jun-04-2014 08:45 AM
Apr 23 14
Tanger Factory Outlet Centers Inc. Presents at REITWeek: NAREIT's Investor Forum, Jun-04-2014 08:45 AM. Venue: Waldorf Astoria New York, 301 Park Avenue, New York, NY 10022, United States. Speakers: Steven B. Tanger, Chief Executive Officer, President and Director.
Tanger Factory Outlet Centers, Inc. Approves Increased Annual Dividend, Payable on May 15, 2014
Apr 10 14
Tanger Factory Outlet Centers Inc. announced that its Board of Directors approved a 6.7% increase in the annual dividend on its common shares from $0.90 per share to $0.96 per share. Simultaneously, the Board of Directors declared a quarterly dividend of $0.24 per share for the first quarter ended March 31, 2014. This cash dividend will be payable on May 15, 2014 to holders of record on April 30, 2014.