GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Tanger Inc. (SKT) on Tuesday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
The Greensboro, North Carolina-based real estate investment trust said it had funds from operations of $71.1 million, or 60 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 58 cents per share.
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 $31.8 million, or 28 cents per share.
The factory outlet mall operator, based in Greensboro, North Carolina, posted revenue of $145.2 million in the period. Its adjusted revenue was $137.2 million.
Tanger expects full-year funds from operations to be $2.28 to $2.32 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SKT at https://www.zacks.com/ap/SKT
Copyright © 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
