Tanger Factory Outlet Centers, Inc. Reports Impairment Charges for the Fourth Quarter Ended December 31, 2019; Provides Earnings Guidance for the Year Ending December 31, 2020
January 27, 2020 at 04:30 pm IST
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Tanger Factory Outlet Centers, Inc. reported impairment charges for the fourth quarter ended December 31, 2019. For the quarter, the company reported impairment charge of $37,610,000.
The company provided earnings guidance for the year ending December 31, 2020. Based on the company's internal budgeting process and its view on current market conditions, management currently believes the company estimated diluted net income per share to be in the range of $0.65 to $0.73.
Tanger Inc. is an owner and operator of outlet and open-air centers in the United States and Canada. 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 outlet and open-air shopping centers. Its outlet centers and other assets are held by, and all its operations are conducted by Tanger Properties Limited Partnership and subsidiaries (Operating Partnership). The Company operates 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 United States and Canada. It offers over 3,000 stores operated by more than 700 different brand name companies. Its consolidated outlet centers include Deer Park, New York, Riverhead, New York, Foley, Alabama, Bridge Street Town Centre, and others.
Tanger Factory Outlet Centers, Inc. Reports Impairment Charges for the Fourth Quarter Ended December 31, 2019; Provides Earnings Guidance for the Year Ending December 31, 2020
TANGER INC. 
