KeyBanc Reiterates Sector Weight Rating on Tanger Factory Outlet Centers (SKT)

KeyBanc analyst Todd Thomas reiterated a Sector Weight rating on Tanger Factory Outlet Centers (NYSE: SKT).

The analyst commented: "Acquires Legends Outlets, Adds Another Large-Format Center to the Mix; We are updating estimates following the announced acquisition of Legends Outlets in Kansas City, KS, as well as to account for 2Q25 earnings. The $130M acquisition is expected to generate a year-1 unlevered return of ~8%, with potential yield upside in the years ahead through remerchandising and improving ops at the center. The acquisition is consistent with SKT's strategy and screens attractive, though the addition of another large-format, dining and entertainment-oriented center may further introduce operating volatility and increase ongoing capex needs over time. Reiterate SW rating."

For an analyst ratings summary and ratings history on Tanger Factory Outlet Centers click here. For more ratings news on Tanger Factory Outlet Centers click here.

Shares of Tanger Factory Outlet Centers closed at $33.48 yesterday.

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