Tanger Factory Outlet Centers (SKT) Misses Q1 FFO by 5c, Offers FY Guidance

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Tanger Reports First Quarter 2015 Results

April 28, 2015 4:06 PM EDT

GREENSBORO, N.C., April 28, 2015 /PRNewswire/ -- Tanger Factory Outlet Centers, Inc. (NYSE: SKT) today reported adjusted funds from operations ("AFFO") available to common shareholders increased 11.1% to $0.50 per share, or $49.8 million for the three months ended March 31, 2015.  AFFO for the three months ended March 31, 2014 was $0.45 per share, or $44.4 million.  A reconciliation of funds from operations ("FFO"), a widely accepted supplemental measure of REIT performance, to AFFO is shown in the table below.  

"We are off to a great start for 2015. AFFO of $0.50 per share for the quarter represents 11.1%... More