Tanger Factory reports Q1 Core FFO 52c, consensus 51c

Reports Q1 revenue $123.37M, consensus $122.8M. Reports Q1 Same Center NOI up 5.2% to $87.9M from $83.6M last year. “We are pleased to announce another quarter of strong financial and operating results along with a recent 6% dividend increase,” said Stephen Yalof, President and Chief Executive Officer. “We are strategically focused on elevating and diversifying our tenant mix, driving total rents and leveraging our platform to realize additional growth. We achieved our ninth consecutive quarter of positive rent spreads with continued significant leasing volume, which positions us to further enhance our portfolio for our shoppers and retail partners.”