GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Tanger Inc. (SKT) on Wednesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Greensboro, North Carolina, said it had funds from operations of $62.7 million, or 54 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $24.6 million, or 22 cents per share.
The factory outlet mall operator, based in Greensboro, North Carolina, posted revenue of $133 million in the period. Its adjusted revenue was $125.2 million.
Tanger expects full-year funds from operations in the range of $2.09 to $2.13 per share.
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