REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-08-06 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net income rose 10% YoY to $34.6M as rental revenue growth from acquisitions and stronger re-leasing spreads outpaced higher interest expense from $250M of new Exchangeable Notes issued in January 2026.
Biggest Revenue Drivers
Rental revenue$143.7M+7.7% YoY
Higher rents from new and existing tenants, a strengthened tenant mix, and contributions from the acquired Kansas City, KS and Toledo, OH centers
Other revenue$5.8M+16.4% YoY
Growth in ancillary revenue streams such as EV charging, paid media sponsorships and onsite signage
Biggest Revenue Drivers
Total revenue: $143.7M+7.7% YoY
Rental revenue$143.7M+7.7% YoY
Higher rents from new and existing tenants, a strengthened tenant mix, and contributions from the acquired Kansas City, KS and Toledo, OH centers
Other revenue$5.8M+16.4% YoY
Growth in ancillary revenue streams such as EV charging, paid media sponsorships and onsite signage
Largest Expense Items
General and administrative$20.5M+7.9% YoY
Higher employee compensation, healthcare costs and other professional fees
Margins: Portfolio NOI grew 7.0% YoY to $105.9M on higher rents and recent acquisitions, but Same Center NOI rose a more modest 3.3% to $98.8M, and G&A/D&A growth outpaced revenue growth.
Watch Items from the Filing
No single tenant represents more than 5.2% of aggregate rental revenue and no brand exceeds 3% of annualized base rent, limiting concentration risk.
Interest expense rose to $19.4M from $16.4M after issuing $250M of 2.375% Exchangeable Notes and increasing unsecured term loans to $400M (further drawn to $450M in July 2026).
$350.0M of 3.125% senior notes mature in September 2026; the company intends to repay them using Exchangeable Notes and term loan proceeds.
Company recorded $1.3M of lease termination expense related to the Saks Off 5th bankruptcy after acquiring certain of its leases at the Phoenix center.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About TANGER INC. (SKT): stock profile, AI score and financials
TANGER INC. (SKT) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores SKT at 69.0/100 on a composite quality score built from its SEC filings, placing it at rank #14 of 148 stocks — the top 10% of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), TANGER INC. reports quarterly revenue of $156.4M, net income of $33.2M, an operating margin of 19.7%. Top institutional holders of SKT by reported 13-F value include BlackRock, FMR, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. SKT trades on the NYSE exchange and files with the SEC under CIK 899715. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SKT daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for TANGER INC. directly from SEC EDGAR.