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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.01
SKT's Cash to Debt is ranked lower than
91% of the 564 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.06 vs. SKT: 0.01 )
Ranked among companies with meaningful Cash to Debt only.
SKT' s 10-Year Cash to Debt Range
Min: 0  Med: 0.01 Max: 0.06
Current: 0.01
0
0.06
Equity to Asset 0.24
SKT's Equity to Asset is ranked lower than
84% of the 588 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.47 vs. SKT: 0.24 )
Ranked among companies with meaningful Equity to Asset only.
SKT' s 10-Year Equity to Asset Range
Min: 0.15  Med: 0.25 Max: 0.4
Current: 0.24
0.15
0.4
Interest Coverage 2.28
SKT's Interest Coverage is ranked lower than
59% of the 466 Companies
in the Global REIT - Retail industry.

( Industry Median: 2.79 vs. SKT: 2.28 )
Ranked among companies with meaningful Interest Coverage only.
SKT' s 10-Year Interest Coverage Range
Min: 1.79  Med: 2.18 Max: 2.47
Current: 2.28
1.79
2.47
F-Score: 4
Z-Score: 1.33
M-Score: -2.67
WACC vs ROIC
3.55%
7.11%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 32.33
SKT's Operating margin (%) is ranked lower than
63% of the 601 Companies
in the Global REIT - Retail industry.

( Industry Median: 44.68 vs. SKT: 32.33 )
Ranked among companies with meaningful Operating margin (%) only.
SKT' s 10-Year Operating margin (%) Range
Min: 25.85  Med: 33.19 Max: 39.76
Current: 32.33
25.85
39.76
Net-margin (%) 22.27
SKT's Net-margin (%) is ranked lower than
63% of the 601 Companies
in the Global REIT - Retail industry.

( Industry Median: 35.44 vs. SKT: 22.27 )
Ranked among companies with meaningful Net-margin (%) only.
SKT' s 10-Year Net-margin (%) Range
Min: 2.51  Med: 13.33 Max: 27.95
Current: 22.27
2.51
27.95
ROE (%) 18.41
SKT's ROE (%) is ranked higher than
88% of the 601 Companies
in the Global REIT - Retail industry.

( Industry Median: 6.86 vs. SKT: 18.41 )
Ranked among companies with meaningful ROE (%) only.
SKT' s 10-Year ROE (%) Range
Min: 2.47  Med: 10.79 Max: 21.41
Current: 18.41
2.47
21.41
ROA (%) 4.49
SKT's ROA (%) is ranked higher than
63% of the 611 Companies
in the Global REIT - Retail industry.

( Industry Median: 3.12 vs. SKT: 4.49 )
Ranked among companies with meaningful ROA (%) only.
SKT' s 10-Year ROA (%) Range
Min: 0.53  Med: 2.86 Max: 5.84
Current: 4.49
0.53
5.84
ROC (Joel Greenblatt) (%) 9.00
SKT's ROC (Joel Greenblatt) (%) is ranked higher than
50% of the 526 Companies
in the Global REIT - Retail industry.

( Industry Median: 8.51 vs. SKT: 9.00 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
SKT' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 5.76  Med: 7.92 Max: 19.27
Current: 9
5.76
19.27
Revenue Growth (3Y)(%) 6.00
SKT's Revenue Growth (3Y)(%) is ranked higher than
73% of the 420 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.30 vs. SKT: 6.00 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
SKT' s 10-Year Revenue Growth (3Y)(%) Range
Min: -18  Med: 4.70 Max: 27
Current: 6
-18
27
EBITDA Growth (3Y)(%) 4.30
SKT's EBITDA Growth (3Y)(%) is ranked higher than
53% of the 372 Companies
in the Global REIT - Retail industry.

( Industry Median: 2.90 vs. SKT: 4.30 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
SKT' s 10-Year EBITDA Growth (3Y)(%) Range
Min: 0  Med: 0.90 Max: 39.2
Current: 4.3
0
39.2
EPS Growth (3Y)(%) 14.00
SKT's EPS Growth (3Y)(%) is ranked higher than
61% of the 314 Companies
in the Global REIT - Retail industry.

( Industry Median: 4.80 vs. SKT: 14.00 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
SKT' s 10-Year EPS Growth (3Y)(%) Range
Min: -32.5  Med: 9.00 Max: 64.2
Current: 14
-32.5
64.2
» SKT's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q2 2014

SKT Guru Trades in Q2 2014

Jim Simons 7,600 sh (New)
Chris Davis 574,012 sh (+0.27%)
Ron Baron 483,200 sh (unchged)
Third Avenue Management 1,452,448 sh (-1.56%)
» More
Q3 2014

SKT Guru Trades in Q3 2014

Jim Simons 276,900 sh (+3543.42%)
Third Avenue Management 2,458,721 sh (+69.28%)
Ron Baron 318,675 sh (-34.05%)
Chris Davis 352,864 sh (-38.53%)
» More
Q4 2014

SKT Guru Trades in Q4 2014

Jim Simons 656,000 sh (+136.91%)
Chris Davis Sold Out
Third Avenue Management 2,044,815 sh (-16.83%)
Ron Baron 264,026 sh (-17.15%)
» More
Q1 2015

SKT Guru Trades in Q1 2015

Jim Simons 1,083,500 sh (+65.17%)
Third Avenue Management 2,251,653 sh (+10.12%)
Ron Baron Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with SKT

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Guru Investment Theses on Tanger Factory Outlet Centers Inc

Third Avenue Management Comments on Tanger Factory Outlet Centers - Sep 18, 2013

Tanger Factory Outlet Centers Tanger (SKT) is a U.S.-based real estate investment trust that owns andoperates43retailoutletcentersintheU.S. and Canada. Tanger has a leading position in outlet centers alongside Simon Property Group's Chelsea subsidiary (together they control 80% of the outlet malls in the U.S.). The outlet business has been extremely strong over the past few years, as rental rates and occupancy trends have remained strong due to the value orientation offered by the distribution channel. Tanger's centers have averaged97%occupancyover the past five years and rental rates have grown over 15% annually. Tanger has led the retail sector in internal and external growth, due to their low occupancy cost ratios and high demand from tenants. To put it in perspective, most luxury retailers state that the outlet distribution channel is among their most profitable, and have expressed an interest to continue to expand this channel. Tanger has one of the strongest balance sheets in the retail sector (approximately 30% net debt-to-assets). It is run by a conservative and incentivized management team and has strong development growth prospects, as it continues to capitalize on the trend of consumers and retailers shifting to the outlet channel.

From Third Avenue Management's semi-annual 2013 review.


Check out Third Avenue Management latest stock trades

Ratios

vs
industry
vs
history
P/E(ttm) 33.40
SKT's P/E(ttm) is ranked lower than
78% of the 479 Companies
in the Global REIT - Retail industry.

( Industry Median: 16.10 vs. SKT: 33.40 )
Ranked among companies with meaningful P/E(ttm) only.
SKT' s 10-Year P/E(ttm) Range
Min: 16.88  Med: 54.43 Max: 252.63
Current: 33.4
16.88
252.63
Forward P/E 30.21
SKT's Forward P/E is ranked lower than
74% of the 318 Companies
in the Global REIT - Retail industry.

( Industry Median: 17.99 vs. SKT: 30.21 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 33.30
SKT's PE(NRI) is ranked lower than
77% of the 472 Companies
in the Global REIT - Retail industry.

( Industry Median: 16.30 vs. SKT: 33.30 )
Ranked among companies with meaningful PE(NRI) only.
SKT' s 10-Year PE(NRI) Range
Min: 15.21  Med: 57.76 Max: 253.17
Current: 33.3
15.21
253.17
P/B 6.20
SKT's P/B is ranked lower than
97% of the 590 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.17 vs. SKT: 6.20 )
Ranked among companies with meaningful P/B only.
SKT' s 10-Year P/B Range
Min: 3.63  Med: 5.95 Max: 8.58
Current: 6.2
3.63
8.58
P/S 7.21
SKT's P/S is ranked lower than
52% of the 601 Companies
in the Global REIT - Retail industry.

( Industry Median: 7.01 vs. SKT: 7.21 )
Ranked among companies with meaningful P/S only.
SKT' s 10-Year P/S Range
Min: 2.98  Med: 6.48 Max: 9.92
Current: 7.21
2.98
9.92
PFCF 189.94
SKT's PFCF is ranked lower than
97% of the 205 Companies
in the Global REIT - Retail industry.

( Industry Median: 21.33 vs. SKT: 189.94 )
Ranked among companies with meaningful PFCF only.
SKT' s 10-Year PFCF Range
Min: 9.45  Med: 28.79 Max: 499
Current: 189.94
9.45
499
POCF 15.16
SKT's POCF is ranked lower than
54% of the 505 Companies
in the Global REIT - Retail industry.

( Industry Median: 14.49 vs. SKT: 15.16 )
Ranked among companies with meaningful POCF only.
SKT' s 10-Year POCF Range
Min: 7.17  Med: 14.52 Max: 22.65
Current: 15.16
7.17
22.65
EV-to-EBIT 31.39
SKT's EV-to-EBIT is ranked lower than
70% of the 532 Companies
in the Global REIT - Retail industry.

( Industry Median: 21.12 vs. SKT: 31.39 )
Ranked among companies with meaningful EV-to-EBIT only.
SKT' s 10-Year EV-to-EBIT Range
Min: 18.9  Med: 33.55 Max: 120.3
Current: 31.39
18.9
120.3
PEG 2.69
SKT's PEG is ranked lower than
57% of the 157 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.91 vs. SKT: 2.69 )
Ranked among companies with meaningful PEG only.
SKT' s 10-Year PEG Range
Min: 1.67  Med: 16.04 Max: 161.65
Current: 2.69
1.67
161.65
Shiller P/E 48.44
SKT's Shiller P/E is ranked lower than
80% of the 270 Companies
in the Global REIT - Retail industry.

( Industry Median: 22.60 vs. SKT: 48.44 )
Ranked among companies with meaningful Shiller P/E only.
SKT' s 10-Year Shiller P/E Range
Min: 35.66  Med: 60.26 Max: 88.61
Current: 48.44
35.66
88.61
Current Ratio 0.18
SKT's Current Ratio is ranked lower than
90% of the 563 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.90 vs. SKT: 0.18 )
Ranked among companies with meaningful Current Ratio only.
SKT' s 10-Year Current Ratio Range
Min: 0.01  Med: 0.12 Max: 0.34
Current: 0.18
0.01
0.34
Quick Ratio 0.18
SKT's Quick Ratio is ranked lower than
90% of the 563 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.80 vs. SKT: 0.18 )
Ranked among companies with meaningful Quick Ratio only.
SKT' s 10-Year Quick Ratio Range
Min: 0.01  Med: 0.12 Max: 0.34
Current: 0.18
0.01
0.34

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 3.11
SKT's Dividend Yield is ranked lower than
102% of the 787 Companies
in the Global REIT - Retail industry.

( Industry Median: 5.34 vs. SKT: 3.11 )
Ranked among companies with meaningful Dividend Yield only.
SKT' s 10-Year Dividend Yield Range
Min: 2.19  Med: 3.40 Max: 5.77
Current: 3.11
2.19
5.77
Dividend Payout 0.98
SKT's Dividend Payout is ranked lower than
57% of the 574 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.86 vs. SKT: 0.98 )
Ranked among companies with meaningful Dividend Payout only.
SKT' s 10-Year Dividend Payout Range
Min: 0.4  Med: 1.69 Max: 15.2
Current: 0.98
0.4
15.2
Dividend growth (3y) 6.00
SKT's Dividend growth (3y) is ranked higher than
63% of the 327 Companies
in the Global REIT - Retail industry.

( Industry Median: 3.20 vs. SKT: 6.00 )
Ranked among companies with meaningful Dividend growth (3y) only.
SKT' s 10-Year Dividend growth (3y) Range
Min: 0.4  Med: 3.00 Max: 6.3
Current: 6
0.4
6.3
Yield on cost (5-Year) 3.86
SKT's Yield on cost (5-Year) is ranked lower than
85% of the 785 Companies
in the Global REIT - Retail industry.

( Industry Median: 5.67 vs. SKT: 3.86 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
SKT' s 10-Year Yield on cost (5-Year) Range
Min: 2.72  Med: 4.22 Max: 7.16
Current: 3.86
2.72
7.16
Share Buyback Rate -3.70
SKT's Share Buyback Rate is ranked higher than
65% of the 358 Companies
in the Global REIT - Retail industry.

( Industry Median: -6.40 vs. SKT: -3.70 )
Ranked among companies with meaningful Share Buyback Rate only.
SKT' s 10-Year Share Buyback Rate Range
Min: 13.7  Med: -5.30 Max: -32.5
Current: -3.7

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 6.20
SKT's Price/Tangible Book is ranked lower than
96% of the 578 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.19 vs. SKT: 6.20 )
Ranked among companies with meaningful Price/Tangible Book only.
SKT' s 10-Year Price/Tangible Book Range
Min: 1.32  Med: 4.12 Max: 8.5
Current: 6.2
1.32
8.5
Price/Projected FCF 3.31
SKT's Price/Projected FCF is ranked lower than
83% of the 256 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.41 vs. SKT: 3.31 )
Ranked among companies with meaningful Price/Projected FCF only.
SKT' s 10-Year Price/Projected FCF Range
Min: 2.69  Med: 5.67 Max: 11.2
Current: 3.31
2.69
11.2
Price/Median PS Value 1.12
SKT's Price/Median PS Value is ranked lower than
55% of the 548 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.06 vs. SKT: 1.12 )
Ranked among companies with meaningful Price/Median PS Value only.
SKT' s 10-Year Price/Median PS Value Range
Min: 0.23  Med: 0.59 Max: 1.45
Current: 1.12
0.23
1.45
Price/Peter Lynch Fair Value 3.08
SKT's Price/Peter Lynch Fair Value is ranked lower than
77% of the 134 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.18 vs. SKT: 3.08 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
SKT' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.46  Med: 3.88 Max: 42.26
Current: 3.08
0.46
42.26
Price/Graham Number 2.93
SKT's Price/Graham Number is ranked lower than
95% of the 468 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.93 vs. SKT: 2.93 )
Ranked among companies with meaningful Price/Graham Number only.
SKT' s 10-Year Price/Graham Number Range
Min: 0.92  Med: 2.90 Max: 4.37
Current: 2.93
0.92
4.37
Earnings Yield (Greenblatt) (%) 3.20
SKT's Earnings Yield (Greenblatt) (%) is ranked lower than
63% of the 580 Companies
in the Global REIT - Retail industry.

( Industry Median: 4.30 vs. SKT: 3.20 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
SKT' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 0.8  Med: 3.00 Max: 5.3
Current: 3.2
0.8
5.3
Forward Rate of Return (Yacktman) (%) 11.64
SKT's Forward Rate of Return (Yacktman) (%) is ranked higher than
71% of the 318 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.70 vs. SKT: 11.64 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
SKT' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -7.8  Med: 1.30 Max: 32.3
Current: 11.64
-7.8
32.3

Business Description

Industry: REITs » REIT - Retail
Compare:GGP, AKR, CLP, RIOCF, BTLCY » details
Traded in other countries:T6O.Germany,
Tanger Factory Outlet Centers Inc is a North Carolina corporation formed in March 1993. The Company, along with its subsidiaries owns & operates outlet centers in the United States & Canada. It is a fully-integrated, self-administered & self-managed REIT, developing, acquiring, owning, & managing outlet shopping centers. The Company owns and operates approximately 37 outlet centers, with a total gross leasable area of approximately 11.5 million square feet. These outlet centers are 99% occupied and contains over 2,400 stores, representing approximately 400 store brands. It also had partial ownership interests in 7 outlet centers totaling approximately 1.7 million square feet, including 3 outlet centers in Canada. The Company competes with institutional pension funds, private equity investors, other REITs, small owners of outlet centers, specialty stores and others who are engaged in the acquisition, development or ownership of outlet centers and stores. The Company's operations are subject to various federal, state and local laws, ordinances and regulations.
» More Articles for SKT

Headlines

Articles On GuruFocus.com

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Real Estate: Rising Interest Rates Wreak Havoc on REITs Jul 01 2015
Retailer courts growing market of Chinese shoppers Jun 29 2015
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FIRST LOOK: TangerOutlets Delaware releases renderings, initial tenants Jun 25 2015
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Tanger Factory Outlet Centers, Inc. CEO Presentation At The NAREIT REITWeek Conference 2015 Jun 02 2015
Tanger Factory Outlet Centers, Inc. CEO Presentation At The NAREIT REITWeek Conference 2015 Jun 02 2015
Blueprint For Your Blue Chip REIT Portfolio May 25 2015
Tanger Elects Directors and Officers May 15 2015
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Tanger Elects Directors and Officers May 15 2015
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Tanger Outlets Bolsters Traditional Retail Experience through Interactive Social Media and Digital... May 12 2015
10-Q for Tanger Factory Outlet Centers, Inc. May 08 2015
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