Tanger Acquires The Town Center at Levis Commons for Approximately $60 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 28 2026
0mins
Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot, open-air lifestyle center located in a district in the Perrysburg submarket of Toledo, Ohio. This transaction adds a fourth full-price lifestyle center to Tanger's portfolio, as the company continues to execute its external growth strategy. Tanger acquired The Town Center at Levis Commons for approximately $60 million, using cash on hand and available liquidity. Management expects the center to deliver a first-year return of approximately 8.5 percent, with potential for additional growth over time.
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Analyst Views on SKT
Wall Street analysts forecast SKT stock price to fall
7 Analyst Rating
3 Buy
4 Hold
0 Sell
Moderate Buy
Current: 39.600
Low
34.00
Averages
36.86
High
40.00
Current: 39.600
Low
34.00
Averages
36.86
High
40.00
About SKT
Tanger Inc. is an owner and operator of outlet and open-air retail shopping destinations, with expertise in the retail and outlet shopping industries. The Company is a fully integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlets and other open-air retail centers. Its shopping centers and other assets are held by, and all its operations are conducted by Tanger Properties Limited Partnership and subsidiaries (Operating Partnership). Its portfolio includes approximately 38 outlet centers, and four open-air lifestyle centers includes 17 million square feet across tourist destinations and markets in Canada and 22 states in the United States. It offers over 3,000 stores operated by more than 800 different brand name companies. Its consolidated outlet centers include Tanger Outlets Deer Park, Tanger Outlets Riverhead, Tanger Outlets Foley, Tanger Outlets Rehoboth Beach, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Tanger Inc. Reports Strong Q1 2026 Earnings with Increased Guidance
- Core Earnings Growth: Tanger Inc. reported a core FFO of $0.59 per share for Q1 2026, reflecting an 11% year-over-year increase, which underscores the company's sustained momentum across its leasing, operating, and marketing platforms, thereby enhancing its full-year guidance for 2026.
- Record Leasing Performance: The company executed 651 leases totaling 3.4 million square feet over the past 12 months, marking a record production level that positions Tanger for future revenue growth through strong rent increases.
- Dividend Increase: Tanger announced a 7% increase in its dividend, supported by earnings growth and conservative payout ratios, demonstrating management's confidence in future cash flows and financial health.
- Strong Liquidity Position: At the end of the quarter, Tanger Inc. reported over $1 billion in immediate liquidity, with all debt at fixed rates, providing flexibility to manage upcoming maturities and enhancing the company's financial stability.
See More
Tanger (SKT) Q1 2026 Earnings Call Transcript
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- Dividend Increase: Tanger has declared a quarterly dividend of $0.3125 per share, reflecting a 6.8% increase from the previous $0.2925, demonstrating the company's ongoing commitment to stable cash flow and shareholder returns, which enhances investor confidence.
- Yield Performance: The forward yield of 3.43% not only attracts income-seeking investors but also potentially strengthens the company's competitive position in the Real Estate Investment Trust (REIT) market, appealing to a broader investor base.
- Shareholder Assurance: The dividend is payable on May 15, with a record date of April 30 and an ex-dividend date also on April 30, ensuring shareholders receive timely returns and further solidifying their trust in the company.
- Market Performance: Despite a neutral rating adjustment from BofA, Tanger has shown relative strength in recent market performance, indicating a favorable risk-reward balance that may draw increased investor interest.
See More
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- Transparency Award: Tanger received the 2026 Leader in the Light Award for Transparency from Nareit, recognizing its exceptional corporate governance practices, which enhances investor confidence and strengthens its market position.
- First-Year Achievement: Achieving this honor in its first year of participation in the prestigious awards program indicates Tanger's rapid progress in responsible business practices, potentially attracting more investor interest.
- CEO Statement: CEO Stephen Yalof emphasized that transparency and communication are foundational to the company's culture, demonstrating its commitment to open dialogue with stakeholders, which enhances its reputation in the market.
- Industry Recognition: Tanger also earned the Nareit Investor CARE Gold Award and was named one of America's Greatest Midsize Workplaces by Newsweek for 2026, further solidifying its standing in the industry.
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- Honorary Title: Steven Tanger will assume the title of Chair Emeritus, continuing to provide guidance to the company during the transition period, thereby ensuring stability while leveraging his extensive experience to support the new chair's initiatives.
- Independent Director Role: Bridget Ryan-Berman will conclude her service as lead independent director but will remain on the board, reflecting the company's commitment to the importance of independent directors in enhancing board diversity and independence.
- Future Outlook: Tanger projects over 5% growth in core FFO per share for 2026 amid record leasing and expanded liquidity, demonstrating the company's resilience and growth potential in the market.
See More
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Leadership Change: Luis Subiñás is set to become the non-executive chair of the board, indicating a shift in leadership dynamics.
Strategic Direction: The appointment of Subiñás may signal a new strategic direction for the organization, focusing on governance and oversight.
See More
Tanger Inc. Reports Strong Q1 2026 Earnings with Increased Guidance
- Core Earnings Growth: Tanger Inc. reported a core FFO of $0.59 per share for Q1 2026, reflecting an 11% year-over-year increase, which underscores the company's sustained momentum across its leasing, operating, and marketing platforms, thereby enhancing its full-year guidance for 2026.
- Record Leasing Performance: The company executed 651 leases totaling 3.4 million square feet over the past 12 months, marking a record production level that positions Tanger for future revenue growth through strong rent increases.
- Dividend Increase: Tanger announced a 7% increase in its dividend, supported by earnings growth and conservative payout ratios, demonstrating management's confidence in future cash flows and financial health.
- Strong Liquidity Position: At the end of the quarter, Tanger Inc. reported over $1 billion in immediate liquidity, with all debt at fixed rates, providing flexibility to manage upcoming maturities and enhancing the company's financial stability.
See More
Tanger (SKT) Q1 2026 Earnings Call Transcript
See More
Tanger (SKT) Announces 6.8% Increase in Quarterly Dividend
- Dividend Increase: Tanger has declared a quarterly dividend of $0.3125 per share, reflecting a 6.8% increase from the previous $0.2925, demonstrating the company's ongoing commitment to stable cash flow and shareholder returns, which enhances investor confidence.
- Yield Performance: The forward yield of 3.43% not only attracts income-seeking investors but also potentially strengthens the company's competitive position in the Real Estate Investment Trust (REIT) market, appealing to a broader investor base.
- Shareholder Assurance: The dividend is payable on May 15, with a record date of April 30 and an ex-dividend date also on April 30, ensuring shareholders receive timely returns and further solidifying their trust in the company.
- Market Performance: Despite a neutral rating adjustment from BofA, Tanger has shown relative strength in recent market performance, indicating a favorable risk-reward balance that may draw increased investor interest.
See More
Tanger Receives 2026 Leader in the Light Award for Transparency
- Transparency Award: Tanger received the 2026 Leader in the Light Award for Transparency from Nareit, recognizing its exceptional corporate governance practices, which enhances investor confidence and strengthens its market position.
- First-Year Achievement: Achieving this honor in its first year of participation in the prestigious awards program indicates Tanger's rapid progress in responsible business practices, potentially attracting more investor interest.
- CEO Statement: CEO Stephen Yalof emphasized that transparency and communication are foundational to the company's culture, demonstrating its commitment to open dialogue with stakeholders, which enhances its reputation in the market.
- Industry Recognition: Tanger also earned the Nareit Investor CARE Gold Award and was named one of America's Greatest Midsize Workplaces by Newsweek for 2026, further solidifying its standing in the industry.
See More
Tanger Announces Board Chair Retirement and Successor Appointment
- Board Changes: Tanger announced the retirement of Board Chair Steven Tanger and the appointment of independent director Luis Ubiñas as his successor, indicating a strategic shift in leadership aimed at enhancing corporate governance and decision-making efficiency.
- Honorary Title: Steven Tanger will assume the title of Chair Emeritus, continuing to provide guidance to the company during the transition period, thereby ensuring stability while leveraging his extensive experience to support the new chair's initiatives.
- Independent Director Role: Bridget Ryan-Berman will conclude her service as lead independent director but will remain on the board, reflecting the company's commitment to the importance of independent directors in enhancing board diversity and independence.
- Future Outlook: Tanger projects over 5% growth in core FFO per share for 2026 amid record leasing and expanded liquidity, demonstrating the company's resilience and growth potential in the market.
See More
TANGER INC - LUIS UBIÑAS APPOINTED AS NON-EXECUTIVE CHAIR OF THE BOARD
Leadership Change: Luis Subiñás is set to become the non-executive chair of the board, indicating a shift in leadership dynamics.
Strategic Direction: The appointment of Subiñás may signal a new strategic direction for the organization, focusing on governance and oversight.
See More
