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SKT - Tanger Outlets
Old 04-16-2019, 05:00 PM   #1
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SKT - Tanger Outlets

Any thoughts on Tanger..symbol: SKT. Dividend Aristocrat paying 7%. Yes there are issues in the retail space but I don't believe brick and mortar are going away. Anyway purchased some today..at the high of the day...timing is terrible😎. Hoping this stays stable and keeps paying the nice dividend.
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Old 04-16-2019, 05:22 PM   #2
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There's a Tanger Outlet near where I live.

Hopefully for you this stock does better than the stores there do. Nothing but crickets every time I go by. That's true of the other outlets on the same road, not just Tanger.
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Old 04-16-2019, 05:49 PM   #3
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Any thoughts on Tanger..symbol: SKT. Dividend Aristocrat paying 7%. Yes there are issues in the retail space but I don't believe brick and mortar are going away. Anyway purchased some today..at the high of the day...timing is terrible��. Hoping this stays stable and keeps paying the nice dividend.
Brick and mortar does not have to go away for a Tanger investment to be unsuccessful. Management is certainly smart, but I have seen so much change lately that I have little confidence that I could predict the important issues involved here. My thinking is that I really could not have very high confidence in a Tanger position, whether long or short. Though like you, I do get interested in stocks at 10-year lows in the middle of a roaring bull market!

Retail is falling apart everywhere. This may reverse tomorrow, but then again, it may not. Who are the major clothes buyers? Young women. Where are they? Increasingly they are in the central cities. My wife sometimes enjoyed a trip to a Tanger store, but at least the only ones I ever saw were far out of town, where rents were lower. I have owned Tanger stock, and it was at least a moderately successful position, but I am out now and will likely stay out.

An aside-Northgate Mall, the nations first fully enclosed, climate-controlled mall, is shrinking its retail space and I think I read that apartments or condos are to replace some of that retail space.

Remember Sears!

Ha
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Old 04-16-2019, 07:03 PM   #4
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Yes, remember Sears, Woolworths, Kmart AND the dot com bust.

Retail ain't going away. Changes are definite. The smart landlords like SKT TCO SPG MAC have been through busts and know how to cope.

Sure some of the mall anchors are gone but that space is often redeveloped to IMAX or Dave & Buster's or even apartments.
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SKT - Tanger Outlets
Old 04-16-2019, 09:35 PM   #5
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SKT - Tanger Outlets

“Often”, but not always.

A “bust” is one thing, they happen when consumer spending drops and stays down. IMO what we’re in the middle of with retail is a fundamental shift in consumer purchasing habits. Smart landlords may be able to adapt/“repurpose” space, but this isn’t a cyclical thing, IMO.
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Old 04-17-2019, 04:56 AM   #6
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There's a Tanger Outlet near where I live.

Hopefully for you this stock does better than the stores there do. Nothing but crickets every time I go by. That's true of the other outlets on the same road, not just Tanger.
That's been my experience, too. Lots of empty stores, only the few big names can seem to stay open, (Nike, Levis,etc). Plus, I think people are catching on to the fact that the deals aren't that great for the most part. And some stores are now having cheaper made branded items to be exclusively sold at outlet stores to make the prices seem less, but so is the quality. Now, not all these were Tanger outlets so maybe they're doing way better than the average. I remember walking through one where they could have shot an episode of the Walking Dead there it was so deserted.
I wouldn't touch it, myself.
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Old 04-17-2019, 05:38 AM   #7
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The Tanger outlet on the AL coast seems to stay busy year round. But a lot of tourist in the area. I buy a lot of my fancy clothes there. Shorts and golf shirts. No opinion on the stock.
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Old 04-17-2019, 06:00 AM   #8
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This chart shows Price/Available FFO for SKT. What it tells me (yes I hear voices) is to wait for $12. Then the question will be: recover or not.

I usually just add to VGSLX Vanguard US REIT in Roth, and call it a month.

I am a subscriber to, and have no financial interest in it.
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Old 04-17-2019, 07:02 AM   #9
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Outlet malls in general seem to have more vacancies when I infrequently visit - which I will happen to do later this week.
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Old 04-17-2019, 07:23 AM   #10
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Fairfield Outlet mall near us does good on holidays and a lot of people visiting from Mexico love it . One of the clever things they do is run shuttle buses from Intercontinental Airport to the Mall for shoppers . lots of International customers .
But still lots of vacancies and I have heard from a few rents are bad. ( Bait and Switch ) The outlet mall in San Marcos is a monster and does real good.
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Old 04-17-2019, 08:31 PM   #11
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It’s a REIT. Like many REITS it is specialized but this one seems too specialized to me. That dividend is attractive, though. I’m holding VER right now as a turnaround play. It yields 6.77% with upside potential.
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Old 04-17-2019, 09:01 PM   #12
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SKT has a dividend payout ratio of 66.98%. It has a P/E Ratio of 41.57. ....

It seems a bit pricey to me. I prefer REIT funds or ETF's.

VNQ pays a very nice 4.02% dividend, is fully diversified, and is under 40% payout ratio.

I'd rather give up a bit of yield and SWAN.
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Old 04-17-2019, 10:56 PM   #13
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SKT is a stable, well-run company with good dividend coverage and modest debt levels for a REIT. However, I currently do not own it because their expected dividend growth rate is too low.
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