Tanger Inc. Reports Revenue Growth to $140.7 Million and Increased Net Income in Q2 2025

Tanger Inc. reported a notable increase in financial performance for the second quarter of 2025, with total revenues reaching $140.7 million, up from $129.0 million in the same period last year. This growth was primarily driven by a $11.1 million increase in rental revenue, which totaled $133.4 million compared to $122.3 million in the prior year. The company’s net income also rose to $31.3 million, a $5.4 million increase from $25.9 million in the previous year, reflecting a basic earnings per share of $0.27, up from $0.23.

In terms of operational metrics, Tanger Inc. maintained a strong occupancy rate of 96.5% across its portfolio of 30 consolidated outlet centers and three open-air lifestyle centers, which collectively encompass approximately 13.3 million square feet. The company also reported a slight increase in its total assets, which grew to $2.45 billion from $2.38 billion at the end of 2024. However, total liabilities also increased to $1.79 billion, up from $1.70 billion, largely due to higher debt levels associated with recent acquisitions, including the Cleveland, Ohio center purchased for $167 million in February 2025.

Strategically, Tanger Inc. has focused on expanding its portfolio through acquisitions and enhancing its tenant mix. The company acquired the Pinecrest center in Cleveland, which is expected to contribute positively to future revenues. Additionally, the company disposed of its Howell, Michigan center for $17 million, which included a $4.2 million impairment charge recorded earlier in the year. The company’s management emphasized the importance of maintaining a diverse tenant base to mitigate risks associated with economic fluctuations.

Looking ahead, Tanger Inc. expressed optimism about its growth trajectory, citing a strong demand for retail space and a favorable leasing environment. The company plans to continue leveraging its existing assets while exploring new acquisition opportunities. However, management acknowledged potential challenges posed by macroeconomic factors such as inflation, rising interest rates, and changing consumer behaviors, which could impact tenant sales and, consequently, rental income. The company remains committed to maintaining its REIT status and fulfilling its dividend obligations, with a quarterly cash dividend of $0.2925 declared for shareholders in July 2025.