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Tags: barrons | mall | stock | tanger

Barron's: Mauled Mall Stock Tanger Has 9% Yield

Barron's: Mauled Mall Stock Tanger Has 9% Yield

Georgesheldon | Dreamstime.com

Monday, 09 December 2019 08:32 AM EST

The 39 malls owned by Tanger Factory Oulet Centers, one of the U.S.’s largest outlet landlords, have flourished despite the so-called retail apocalypse, while shares have fallen more than 60 percent since the middle of 2016, Barron’s said.

Concerns about profit growth have hurt the shares and things could get worse for Tanger before they get better if retail tenants continue to struggle and go out of business, according to Barron’s.

But, Barron’s said, shares could likely reach $20 as those bankruptcies dwindle and it is able to re-lease vacant space.

Tanger shares (SKT) recently traded at around $16 in New York, which is less than seven times funds from operations, a standard real estate investment trust cash-flow metric, Barron’s said. That cmopares with about 15 times for Kimco Realty and Weingarten Realty Investors, it said. 

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
The 39 malls owned by Tanger Factory Oulet Centers, one of the U.S.’s largest outlet landlords, have flourished despite the so-called retail apocalypse, while shares have fallen more than 60 percent since the middle of 2016, Barron’s said.
barrons, mall, stock, tanger
136
2019-32-09
Monday, 09 December 2019 08:32 AM
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