Where Will Tanger Factory Outlet Centers Be in 1 Year?
Tanger Factory Outlet Centers (NYSE: SKT) has been one of my worst-performing stocks in recent years. I accumulated most of my shares throughout 2017, and I'm now sitting on an unrealized loss of about 75%.
Four things initially drew me to Tanger. First, outlet centers remained resilient during the retail apocalypse as traditional malls faltered. Second, Tanger is a landlord instead of a retailer, and its outlet occupancy rates remained high even as its tenants changed.
Third, Tanger paid a high dividend. It's a real estate investment trust (REIT) required to pay out most of its profits as dividends, and it raised its payout annually for over two decades. Lastly, Tanger's P/E ratio was much lower than the valuations of comparable companies like Simon Property Group (NYSE: SPG) and Brixmor Property Group (NYSE: BRX).
Source Fool.com
