Tanger has raised FFO guidance twice in 2026, yet shares have declined 17% from their 52-week high. SKT's portfolio transformation and strong leasing spreads support robust fundamentals, with FFO projected to grow 6.7% year-on-year. The balance sheet remains conservative with net debt/EBITDAre at 4.7x, significant liquidity, and no major maturities until 2030.








