Tanger Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Tanger Inc reported revenue of $1.2B (+10.5% year on year) and net income of $239.0M (+16.3% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Rental revenues | $550.9M | $497.5M | $438.9M | $421.4M |
| Management, leasing and other services | $8.2M | $7.7M | $17.3M | $6.8M |
| Other revenues | $41.8M | $37.8M | $33.7M | $28.1M |
| Total revenues | $1.2B | $1.1B | $928.8M | $885.2M |
| Property operating | $353.0M | $317.5M | $291.1M | $287.9M |
| General and administrative | $157.4M | $156.0M | $152.3M | $143.1M |
| Impairment charge | $8.5M | — | $0 | $0 |
| Depreciation and amortization | $302.0M | $277.4M | $217.8M | $223.8M |
| Total expenses | $820.9M | $750.9M | $661.1M | $654.7M |
| Interest expense | ($131.7M) | ($121.3M) | ($95.9M) | ($93.9M) |
| Other income (expense) | $1.3M | $3.0M | $19.5M | $12.1M |
| Total other income (expense) | ($130.4M) | ($118.3M) | ($76.4M) | ($76.0M) |
| Income before equity in earnings of unconsolidated joint ventures | $211.8M | $182.9M | $191.3M | $154.5M |
| Equity in earnings of unconsolidated joint ventures | $27.2M | $22.6M | $16.5M | $17.2M |
| Net income | $239.0M | $205.5M | $207.8M | $171.7M |
| Noncontrolling interests in consolidated partnerships | $0 | $80.0K | ($248.0K) | $0 |
| Noncontrolling interests in Operating Partnership | ($4.7M) | ($4.2M) | ($4.5M) | ($3.8M) |
| Noncontrolling interests in other consolidated partnerships | $0 | $80.0K | ($248.0K) | $0 |
| Net income (loss) attributable to Tanger Factory Outlet Centers, Inc. | $234.3M | $201.4M | $202.8M | $167.9M |
| Net income available to limited partners | $118.2M | $101.8M | $102.6M | $85.0M |
| Net income available to general partner | $1.3M | $1.0M | $1.0M | $860.0K |
| Net income (loss) (in dollars per share) | $2.02 | $1.78 | $1.88 | $1.56 |
| Net income (loss) (in dollars per share) | $1.98 | $1.76 | $1.84 | $1.54 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Rental revenue | $148.3M | $143.5M | $137.2M | $133.4M |
| Management, leasing and other services | $2.3M | $2.2M | $2.5M | $2.2M |
| Other revenue | $5.8M | $4.7M | $5.5M | $5.0M |
| Total revenues | $156.4M | $150.4M | $145.2M | $140.7M |
| Property operating | $45.5M | $46.7M | $43.8M | $40.4M |
| General and administrative | $20.5M | $20.1M | $18.6M | $19.0M |
| Impairment charge | $0 | $0 | $0 | $0 |
| Depreciation and amortization | $42.0M | $40.4M | $37.1M | $36.6M |
| Total expenses | $107.9M | $107.2M | $99.5M | $96.0M |
| Interest expense | ($19.4M) | ($19.2M) | ($16.4M) | ($16.4M) |
| Other income (expense) | $1.7M | $1.9M | ($116.0K) | ($26.0K) |
| Total other income (expense) | ($17.7M) | ($17.3M) | ($16.6M) | ($16.4M) |
| Income before equity in earnings of unconsolidated joint ventures | $30.8M | $26.0M | $29.1M | $28.3M |
| Equity in earnings of unconsolidated joint ventures | $3.8M | $3.4M | $4.2M | $3.0M |
| Net income | $34.6M | $29.4M | $33.3M | $31.3M |
| Noncontrolling interests in Operating Partnership | ($1.4M) | ($1.2M) | ($1.3M) | ($1.2M) |
| Noncontrolling interests in other consolidated partnerships | $0 | $0 | $0 | $0 |
| Net income attributable to Tanger Inc. | $33.2M | $28.3M | $32.0M | $30.1M |
| Net income (in dollars per unit) | $0.29 | $0.25 | $0.28 | $0.27 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land | $684.4M | $622.7M | $607.2M | $550.2M |
| Buildings, improvements and fixtures | $6.7B | $6.2B | $5.9B | $5.1B |
| Construction in progress | $36.3M | $14.9M | $58.4M | $54.7M |
| Total rental property, at cost | $7.4B | $6.8B | $6.5B | $5.7B |
| Accumulated depreciation | ($3.0B) | ($2.9B) | ($2.6B) | ($2.4B) |
| Total rental property, net | $4.4B | $4.0B | $3.9B | $3.3B |
| Cash and cash equivalents | $18.1M | $93.7M | $25.4M | $424.1M |
| Restricted Cash | $35.4M | — | — | — |
| Investments in unconsolidated joint ventures | $129.7M | $131.3M | $143.8M | $147.6M |
| Deferred lease costs and other intangibles, net | $221.3M | $170.1M | $182.5M | $117.1M |
| Operating lease right-of-use assets | $83.5M | $76.1M | $77.4M | $78.6M |
| Prepaids and other assets | $272.4M | $254.2M | $216.8M | $221.8M |
| Total assets | $5.3B | $4.8B | $4.6B | $4.4B |
| Senior, unsecured notes, net | $2.1B | $2.1B | $2.1B | $2.1B |
| Unsecured term loans, net | $648.0M | $646.4M | $644.6M | $643.0M |
| Mortgages payable, net | $370.5M | $117.7M | $128.1M | $137.9M |
| Unsecured lines of credit | $88.0M | $0 | $26.0M | $0 |
| Total debt | $3.2B | $2.8B | $2.9B | $2.9B |
| Accounts payable and accrued expenses | $265.6M | $214.7M | $236.4M | $208.8M |
| Operating lease liabilities | $91.6M | $84.5M | $86.1M | $87.5M |
| Other liabilities | $198.8M | $171.0M | $178.0M | $165.9M |
| Total liabilities | $3.8B | $3.4B | $3.5B | $3.4B |
| General partnership units | $1.3M | $1.3M | — | — |
| Common shares, outstanding | 115.1M | 112.7M | — | — |
| Common shares, issued | 115.1M | 112.7M | — | — |
| Common shares, $0.01 par value, 300,000,000 shares authorized, 115,097,359 and 112,738,633 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 1.2M | 1.1M | 1.1M | 1.0M |
| Paid in capital | $1.3B | $1.2B | $1.1B | $987.2M |
| Accumulated distributions in excess of net income | ($529.2M) | ($511.8M) | ($490.2M) | ($485.6M) |
| General partner, 1,250,000 and 1,250,000 units outstanding at December 31, 2025 and December 31, 2024, respectively | $8.9M | $9.1M | $5.8M | $4.5M |
| Limited partners, 4,662,904 and 4,707,958 Class A common units, and 113,847,359 and 111,488,633 Class B common units outstanding at December 31, 2025 and December 31, 2024, respectively | $756.0M | $699.7M | $610.3M | $521.2M |
| Accumulated other comprehensive loss | ($58.2M) | ($56.8M) | ($48.3M) | ($22.8M) |
| Equity attributable to Tanger Inc. | $706.5M | $652.4M | $566.8M | $491.6M |
| Total partners' equity | $735.1M | $679.7M | $591.3M | $513.9M |
| Noncontrolling interests in Operating Partnership | $28.6M | $27.3M | $24.5M | $22.3M |
| Noncontrolling interests in other consolidated partnerships | $0 | $0 | $0 | $0 |
| Total equity | $735.1M | $679.7M | $591.3M | $513.9M |
| Total liabilities and equity | $5.3B | $4.8B | $4.6B | $4.4B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Land | $348.4M | $342.2M | $342.2M | $332.0M |
| Buildings, improvements and fixtures | $3.4B | $3.4B | $3.3B | $3.2B |
| Construction in progress | $19.8M | $21.3M | $18.3M | $11.7M |
| Rental property, at cost, total | $3.8B | $3.7B | $3.7B | $3.5B |
| Accumulated depreciation | ($1.6B) | ($1.5B) | ($1.5B) | ($1.5B) |
| Total rental property, net | $2.2B | $2.2B | $2.2B | $2.1B |
| Cash and cash equivalents | $176.9M | $207.4M | $13.0M | $9.7M |
| Restricted Cash | $31.0M | $35.8M | $37.2M | — |
| Short-term investments | $20.0M | $20.0M | — | — |
| Investments in unconsolidated joint ventures | $63.6M | $64.8M | $65.7M | $66.7M |
| Deferred lease costs and other intangibles, net | $113.8M | $105.5M | $116.0M | $100.2M |
| Operating lease right-of-use assets | $82.8M | $83.1M | $81.7M | $75.4M |
| Prepaids and other assets | $136.9M | $132.6M | $126.3M | $123.0M |
| Total assets | $2.9B | $2.8B | $2.6B | $2.5B |
| Senior, unsecured notes, net | $1.0B | $1.0B | $1.0B | $1.0B |
| Convertible Notes Payable | $243.2M | $242.8M | — | — |
| Unsecured term loans, net | $394.6M | $394.3M | $323.8M | $323.6M |
| Mortgages payable, net | $178.7M | $184.4M | $186.1M | $67.7M |
| Unsecured lines of credit | $0 | $0 | $60.0M | $92.0M |
| Total debt | $1.9B | $1.9B | $1.6B | $1.5B |
| Accounts payable and accrued expenses | $107.7M | $78.4M | $98.5M | $86.5M |
| Operating lease liabilities | $90.8M | $91.2M | $90.1M | $83.8M |
| Other liabilities | $98.9M | $101.2M | $102.2M | $94.7M |
| Total liabilities | $2.2B | $2.1B | $1.9B | $1.8B |
| Common shares, $0.01 par value, 300,000,000 shares authorized, 114,878,989 and 115,097,359 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 1.1M | 1.1M | 1.2M | 1.1M |
| Paid in capital | $1.2B | $1.2B | $1.3B | $1.2B |
| Accumulated distributions in excess of net income | ($538.7M) | ($536.0M) | ($529.0M) | ($527.9M) |
| Accumulated other comprehensive loss | ($23.0M) | ($25.6M) | ($28.9M) | ($28.4M) |
| Equity attributable to Tanger Inc. | $674.0M | $670.5M | $703.6M | $635.2M |
| Noncontrolling interests in Operating Partnership | $27.4M | $27.3M | $28.5M | $26.2M |
| Noncontrolling interests in other consolidated partnerships | $0 | $0 | $0 | $0 |
| Total equity | $701.4M | $697.8M | $732.2M | $661.3M |
| Total liabilities and equity | $2.9B | $2.8B | $2.6B | $2.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $239.0M | $205.5M | $207.8M | $171.7M |
| Depreciation and amortization | $302.0M | $277.4M | $217.8M | $223.8M |
| Amortization of deferred financing costs | $7.5M | $7.0M | $6.4M | $6.3M |
| Equity in earnings of unconsolidated joint ventures | ($27.2M) | ($22.6M) | ($16.5M) | ($17.2M) |
| Equity-based compensation expense | $25.5M | $24.0M | $25.0M | $25.9M |
| Amortization of debt (premiums) and discounts, net | $642.0K | $1.5M | $1.2M | $1.0M |
| Amortization of market rent rate adjustments, net | ($678.0K) | $1.1M | $1.3M | $2.8M |
| Straight-line rent adjustments | ($6.8M) | ($1.2M) | $4.5M | $3.4M |
| Distributions of cumulative earnings from unconsolidated joint ventures | $27.1M | $17.4M | $16.8M | $17.4M |
| Other non-cash | $0 | $1.3M | $1.2M | ($4.8M) |
| Other assets | ($38.8M) | $3.7M | $6.7M | $870.0K |
| Accounts payable and accrued expenses | $54.1M | $6.3M | ($13.0M) | $2.6M |
| Net cash provided by operating activities | $590.8M | $521.3M | $459.1M | $427.9M |
| Additions to rental property | ($180.4M) | ($200.9M) | ($376.4M) | ($154.6M) |
| Additions to investments in unconsolidated joint ventures | $0 | $0 | ($5.2M) | ($626.0K) |
| Net proceeds from sale of real estate assets | $33.3M | $0 | $0 | $24.8M |
| Acquisition of real estate assets | ($366.0M) | ($152.3M) | ($519.4M) | — |
| Additions to short-term investments | $0 | $0 | ($15.4M) | ($104.9M) |
| Proceeds from short-term investments | $0 | $18.4M | $101.9M | — |
| Distributions in excess of cumulative earnings from unconsolidated joint ventures | $6.5M | $7.5M | $14.4M | $24.1M |
| Additions to non-real estate assets | ($11.7M) | ($15.2M) | ($21.5M) | ($14.9M) |
| Additions to deferred lease costs | ($9.9M) | ($5.5M) | ($6.2M) | ($5.1M) |
| Payments for other investing activities | ($13.1M) | ($20.2M) | ($4.4M) | ($14.6M) |
| Proceeds from other investing activities | $14.3M | $12.1M | $13.0M | $19.0M |
| Net cash used in investing activities | ($527.1M) | ($356.0M) | ($819.1M) | ($197.6M) |
| Cash dividends or distributions paid | ($269.8M) | ($245.6M) | ($212.1M) | ($172.2M) |
| Distributions to noncontrolling interests in Operating Partnership | ($5.4M) | ($5.1M) | ($4.6M) | ($3.8M) |
| Proceeds from revolving credit facility | $658.0M | $524.0M | $166.0M | $0 |
| Repayments of revolving credit facility | ($570.0M) | ($550.0M) | ($140.0M) | $0 |
| Proceeds from notes, mortgages and loans | $20.0M | $0 | $0 | $73.1M |
| Repayments of notes, mortgages and loans | ($3.0M) | ($10.3M) | ($9.5M) | ($8.9M) |
| Employee income taxes paid related to shares withheld upon vesting of equity awards | -16.1M | -24.1M | -14.6M | -7.8M |
| Distributions to noncontrolling interests in other consolidated partnerships | $0 | $80.0K | ($496.0K) | — |
| Additions to deferred financing costs | ($1.2M) | ($13.8M) | ($262.0K) | ($6.5M) |
| Proceeds from exercise of options | $868.0K | $2.6M | $2.5M | $176.0K |
| Proceeds from the Company’s common share offering | $69.3M | $114.5M | $88.9M | $0 |
| Contributions from noncontrolling interests in other consolidated partnerships | $0 | $80.0K | — | — |
| Payment for other financing activities | ($2.3M) | ($2.3M) | ($2.3M) | ($2.3M) |
| Net cash provided (used in) by financing activities | ($51.2M) | ($96.7M) | ($38.6M) | ($128.3M) |
| Effect of foreign currency rate changes on cash and cash equivalents | $652.0K | ($244.0K) | ($230.0K) | ($222.0K) |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | $13.1M | $68.3M | ($398.8M) | $101.7M |
| Cash, cash equivalents and restricted cash beginning of year | $93.7M | $25.4M | $424.1M | $322.4M |
| Cash, cash equivalents and restricted cash end of year | $106.8M | — | — | — |
| Impairment charge | $8.5M | — | $0 | $0 |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income (loss) | $64.0M | $29.4M | $84.7M | $51.3M |
| Depreciation and amortization | $82.3M | $40.4M | $110.9M | $73.8M |
| Impairment charge | $0 | $0 | $4.2M | $4.2M |
| Amortization of deferred financing costs | $2.6M | $1.3M | $2.8M | $1.9M |
| Equity in earnings of unconsolidated joint ventures | ($7.3M) | ($3.4M) | ($9.7M) | ($5.4M) |
| Equity-based compensation expense | $7.2M | $3.6M | $9.5M | $6.2M |
| Amortization of debt (premiums) and discounts, net | ($477.0K) | ($226.0K) | $550.0K | $413.0K |
| Accretion of market rent rate adjustments, net | ($3.3M) | ($354.0K) | ($185.0K) | ($263.0K) |
| Straight-line rent adjustments | ($4.6M) | ($2.4M) | ($2.1M) | ($294.0K) |
| Distributions of cumulative earnings from unconsolidated joint ventures | $7.9M | $4.1M | $7.9M | $6.6M |
| Other assets | $9.3M | $8.1M | ($3.7M) | ($4.1M) |
| Accounts payable and accrued expenses | ($27.8M) | ($44.1M) | ($7.1M) | ($10.9M) |
| Net cash provided by operating activities | $129.8M | $36.3M | $197.7M | $123.4M |
| Additions to rental property | ($41.1M) | ($20.8M) | ($48.8M) | ($27.6M) |
| Net proceeds from sale of real estate assets | $0 | — | $16.6M | $16.6M |
| Acquisition of real estate assets | ($61.6M) | $0 | ($183.0M) | ($166.6M) |
| Additions to short-term investments | ($20.0M) | $20.0M | — | — |
| Additions to non-real estate assets | ($2.5M) | ($1.5M) | ($4.4M) | ($3.1M) |
| Distributions in excess of cumulative earnings from unconsolidated joint ventures | $2.9M | $2.1M | $3.9M | $2.3M |
| Additions to deferred lease costs | ($6.6M) | ($1.2M) | ($3.3M) | ($2.5M) |
| Payments for other investing activities | ($932.0K) | ($433.0K) | ($7.2M) | ($7.7M) |
| Proceeds from other investing activities | $2.8M | $627.0K | $4.6M | $3.0M |
| Net cash used in investing activities | ($127.0M) | ($41.3M) | ($221.6M) | ($185.5M) |
| Cash dividends paid | ($71.0M) | ($35.0M) | ($98.5M) | ($65.4M) |
| Distributions to noncontrolling interests in Operating Partnership | ($2.9M) | $1.4M | $4.0M | $2.7M |
| Proceeds from revolving credit facility | $0 | $0 | $270.0M | $205.0M |
| Repayments of revolving credit facility | ($44.0M) | ($44.0M) | ($210.0M) | ($113.0M) |
| Proceeds from issuance of senior, unsecured exchangeable notes | $250.0M | $250.0M | — | — |
| Proceeds from notes, mortgages and loans | $194.9M | $194.9M | $10.0M | $10.0M |
| Repayments of notes, mortgages and loans | ($125.6M) | ($120.2M) | ($1.1M) | ($738.0K) |
| Employee income taxes paid related to shares withheld upon vesting of equity awards | -8.3M | -8.3M | -7.3M | -7.3M |
| Repurchase of common shares, including transaction costs | -20.0M | -20.0M | — | — |
| Additions to deferred financing costs | ($12.5M) | ($12.3M) | ($544.0K) | ($544.0K) |
| Capped call transactions premium | ($9.0M) | ($9.0M) | — | — |
| Proceeds from exercise of options | $517.0K | $431.0K | $358.0K | $43.0K |
| Payment for other financing activities | ($574.0K) | ($287.0K) | ($861.0K) | ($574.0K) |
| Net cash provided by financing activities | $151.6M | $194.7M | $26.9M | $24.9M |
| Effect of foreign currency rate changes on cash and cash equivalents | ($87.0K) | ($69.0K) | $171.0K | ($65.0K) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $154.4M | $189.7M | $3.2M | ($37.3M) |
| Cash, cash equivalents and restricted cash beginning of period | $53.5M | $53.5M | $47.0M | $47.0M |
| Cash, cash equivalents and restricted cash end of period | $207.9M | $243.2M | $50.2M | — |
Tanger Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.