Tanger Inc. (NYSE: SKT) is a leading real estate investment trust (REIT) focused on the acquisition, development, ownership, and management of open-air outlet centers and lifestyle shopping destinations. Founded in 1981 and headquartered in Greensboro, North Carolina, the company operates a portfolio of approximately 40 properties spanning over 16 million square feet across more than 20 U.S. states and Canada.
Tanger's business model revolves around generating rental income by leasing retail space to a diverse mix of brand-name tenants, including apparel, footwear, accessories, and home goods retailers. The company derives the vast majority of its revenue from base rents, percentage rents based on tenant sales, and tenant reimbursements for operating expenses. Its tenant base includes major global brands such as Gap, Nike, Ralph Lauren, Under Armour, and Tapestry, which utilize outlet centers as a key channel for inventory clearance and direct-to-consumer sales.
Geographically, Tanger's properties are strategically located near major tourist destinations, vibrant consumer markets, and high-traffic highway corridors to maximize foot traffic. The company maintains a strong competitive position as one of the few publicly traded REITs exclusively dedicated to the outlet and open-air retail sector. Its focus on value-oriented retail provides resilience across economic cycles, as consumers consistently seek discounted brand-name merchandise. Tanger continues to drive growth through disciplined acquisitions, property expansions, and enhancing the shopper experience with diverse dining and entertainment options.
