NYSE:SKTRetail REITs
Tanger (SKT) Stock Can Higher FFO Justify Its Premium P/E
Tanger stock barely moved on the headline, slipping about 0.4% to around US$40.55 as investors digested another quarter of outlet and open air mall performance. The muted reaction came after a Q2 report that kept the longer term story intact. Core funds from operations per share reached the low 60 cent range and management lifted full year core funds from operations guidance to US$2.45 to US$2.52.
The near term price is flat, but the bigger question now is whether that upgraded cash flow...