SKT Tanger (SKT) Q1 FY26 earnings call
Tanger Inc. delivered a strong Q1 FY26, driven by robust leasing activity, increased sales productivity, and strategic remerchandising efforts, leading to an 11% core FFO per share increase and an upward revision of full-year guidance. The company continues to leverage its open-air centers and value proposition, focusing on tenant mix evolution and strategic partnerships to drive long-term NOI growth, while maintaining a conservative balance sheet and high liquidity.
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SKT operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Occupancy rate | 98.1%Occupancy at year-end was 98.1%, a 70 basis point sequential increase, and we delivered another quarter of positive rent spreads and extended lease terms for both renewals and new deals.Source: earnings call transcript | 97%Occupancy ended the quarter at 97%, up 120 basis points year-over-year.Source: earnings call transcript | 96.6%Quarter-end occupancy of 96.6% is in line with a year ago and, as expected, a slight moderation from the first quarter reflecting our proactive recapture of the Saks Off 5th space we discussed last quarter.Source: earnings call transcript | -0.4 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.