Is Tanger Factory Outlet Centers a Buy?
Tanger Factory Outlet Centers (NYSE: SKT) is a real estate investment trust (REIT) that operates smack dab in the middle of the retail sector. Retail was among the industries devastated by the global health crisis amid store closures and dashed hopes for recovery. But now there's optimism that COVID may be receding. So let's explore whether Tanger is a buy now.
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For those unfamiliar, Tanger operates a chain of shopping centers occupied by discount stores. Many of these are low-priced outlets of famous brands (Ralph Lauren, Vans, Nike, etc.). As of the end of 2021, it either owned or held an ownership interest in 36 such facilities. These could be found in 20 U.S. states and in Canada, with more than 2,700 individual stores.
Source Fool.com
