Tanger reported Q4 FY2025 results with net income available to common shareholders of USD 33.2 million, or USD 0.29 per diluted share, and FFO available to common shareholders of USD 75.6 million, or USD 0.63 per diluted share. For FY2025, net income available to common shareholders was USD 113.9 million, or USD 0.99 per diluted share, and FFO was USD 278.0 million, or USD 2.33 per diluted share; FY2025 net income included a non-cash impairment charge of USD 4.2 million (USD 0.04 per share) related to the Howell, Michigan center sold in April 2025. Portfolio occupancy was 98.1% at December 31, 2025, and same center NOI rose 5.6% to USD 107.3 million in Q4 and 4.3% to USD 407.7 million in FY2025. Average tenant sales were USD 473 per square foot for the 12 months ended December 31, 2025, and the occupancy cost ratio was 9.7%. Tanger said it achieved record annual leasing volume, with 630 leases signed in FY2025 covering 3.1 million square feet, and reported blended cash rent spreads of 9.5% on comparable space. The company also highlighted January 2026 financing, including USD 550 million of unsecured term loans and USD 250 million of 2.375% exchangeable senior notes due 2031, alongside capped call transactions; it declared a quarterly cash dividend of USD 0.2925 per share payable February 13, 2026. Tanger introduced FY2026 guidance for diluted net income per share of USD 1.04 to USD 1.12 and diluted FFO per share of USD 2.41 to USD 2.49, and assumed same center NOI growth of 2.25% to 4.25%.

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