Tanger reports Q4 core FFO 54c, consensus 52c

Reports Q4 revenue $140.74M, consensus $129.1M. Same center net operating income increased 3.0% to $93.8 million for the fourth quarter of 2024 from $91.0 million for the fourth quarter of 2023 and increased 5.1% to $363.0 million for the full year of 2024 from $345.5 million for the full year of 2023. “I am pleased to report another quarter of strong performance contributing to a successful year as we saw improved sales productivity and delivered robust organic growth. We acquired two open-air shopping centers, The Promenade at Chenal in Little Rock, Arkansas, in December and Pinecrest in Cleveland, Ohio, post-year-end,” said Stephen Yalof, President and Chief Executive Officer. “We continue to execute our external growth strategy and apply our leasing, marketing, and operations platform at these market-dominant shopping centers to further elevate the exceptional experience they offer.”