Tanger Inc. beats third quarter 2026 Core FFO expectations and raises full-year 2026 guidance

Tanger Inc. reported solid third quarter 2026 results characterized by high occupancy levels and positive leasing momentum. While total revenue of $157.7 million slightly trailed expectations, Core FFO of $0.64 per share surpassed the analyst consensus. Management raised its full-year FFO outlook and Same-Center NOI growth assumptions, citing resilient retailer demand and robust population growth in its core markets.

Key Highlights

• Core FFO of $0.64 per share exceeded the estimate of $0.63, reflecting disciplined financial execution.
• Same-Center NOI grew 4.2% YoY to $108.4 million, driven by strong rental rate spreads and occupancy stability.
• Blended average rental rate spreads reached 11.0% on a cash basis, with re-tenanted spreads surging 28.6%.
• Portfolio occupancy remained strong at 97.3%, supported by 564 leases executed over the trailing twelve months.
• Full-year 2026 FFO guidance was raised to a range of $2.49 to $2.53 per share.