Tanger Factory Outlet Centers Inc.

Tanger Factory Outlet Centers Inc.

Tanger Factory Outlet Centers Inc.

Overview
Date Founded

1993

Headquarters

3200 Northline Avenue, Suite 360, Greensboro, NC, 27408, USA

Type of Company

Public

Employees (Worldwide)

636

Industries

Trusts & Funds
Real Estate Investment Trusts

Company Description

Tanger Factory Outlet Centers, Inc. is a fully-integrated, self-administered and self-managed real estate investment trust. It focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.

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Executives & Employees

President, Chief Executive Officer, Chief Operating Officer & Director

Treasurer, Senior Vice President-Finance & Assistant Secretary

Executive Chair

Executive Vice President & Chief Financial Officer

Secretary, Executive Vice President & General Counsel

Executive Vice President, Marketing & Chief Marketing Officer

Senior Vice President, Chief Accounting Officer & Controller

Executive Vice President-Operations

Executive Vice President-Leasing

Senior Vice President, Construction & Development

Board of Directors

Executive Chair at Tanger Factory Outlet Centers Inc.

Co-Founder at Square Mile Capital Management LLC

Former President at Ford Foundation

Managing Partner at Red Dog Ventures LLC

Senior Adviser at Promontory Financial Group LLC

Co-Founder at Peaceable Street Capital LLC

Executive Vice President, Marketing & Chief Marketing Officer at Tanger Factory Outlet Centers Inc.

Former Chief Executive Officer at Victorias Secret Direct, LLC

President, Chief Executive Officer, Chief Operating Officer & Director at Tanger Factory Outlet Centers Inc.

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Owners & Shareholders
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Lonestar Capital Management's investment strategy is based on rejection of the efficient market hypothesis. The firm seeks to exploit material mispricing among investments by knowing more than the market does about their targeted investment opportunities. Lonestar invests in debt and equity securities based on a value-oriented approach. Investment targets include hard-asset industrial and commodity-based businesses, and include bankruptcy and turnaround situations, energy and transportation companies, agricultural concerns and real estate securities. The firm may invest in securities of any kind, including, but not limited to, illiquid securities, private claims of distressed companies, and investments based on their macroeconomic analysis, which are typically made through buying or selling sovereign debt or credit default swaps, interest rate swaps or other currency or commodity related instruments. Evaluation of a target company's balance sheet and cash flow statement is of prime consideration in developing the investment thesis. Lonestar continually engages in a search for secular, industry-wide trends so that multiple investments can be made along a common theme. Lonestar invests on both the long and short sides of the market. Particular emphasis is placed on companies with complicated balance sheets that may result in multiple as well as arbitraged investment positions within a single company's capital structure. The firm also seeks out intra-industry hedged positions when material mispricing is observed.

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IECM manages the Intrinsic Edge Funds which generally invest in US domestic equities and seek to generate positive risk-adjusted returns. The firm’s investment decisions for each Intrinsic Edge Fund are based on the investment objectives as stated in the respective private placement memoranda, limited partnership agreements, investment management agreements or any other organizational documents, as applicable. The Intrinsic Edge Funds’ primary strategy employs a fundamentals-driven investment approach that focuses on both near-term and long-term economic prospects of the target companies. The funds’ investment universe is generally comprised of US domiciled companies that can be valued through traditional fundamental metrics. Companies targeted by IECM for equity investments are generally growth-oriented.

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Invenomic Capital Management LP is a private company headquartered in Boston, MA, that operates in several countries and provides investment advice. The firm was founded in 2015 by Ali Motamed, he has been the CEO since then.

Recent Transactions
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Tanger Factory Outlet Centers Inc. purchases Albert Heijn Belgie NV /2 Stores from Koninklijke Ahold Delhaize NV

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Tanger Factory Outlet Centers Inc. purchases Tanger Outlets of Savannah LLC from Ben Carter Enterprises

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Tanger Factory Outlet Centers Inc. purchases Outlets at Westgate LLC

Insider Transactions
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Transaction Advisors
Auditor

Advised onTanger Factory Outlet Centers Inc. issued USD Common Stock

Legal Advisor

Advised onTanger Factory Outlet Centers Inc. issued USD Common Stock

Underwriter

Advised onTanger Factory Outlet Centers Inc. issued USD Common Stock

Legal Advisor

Advised onTanger Factory Outlet Centers Inc. purchases Tanger Outlets of Savannah LLC from Ben Carter Enterprises

Legal Advisor

Advised onTanger Factory Outlet Centers Inc. purchases Tanger Outlets of Savannah LLC from Ben Carter Enterprises

Managing Director

Advised onTanger Factory Outlet Centers Inc. issued USD Common Stock

Advisors & Consultants
Legal Advisor

Chair, Benefits & Compensation Practice at Latham & Watkins LLP

Legal Advisor

Partner at Latham & Watkins LLP

Legal Advisor

Former Partner at Latham & Watkins LLP

Clients

NIKE, Inc. engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate. The North America; Europe, Middle East & Africa; Greater China; and Asia Pacific & Latin America segments refers to the design, development, marketing, and selling of athletic footwear, apparel, and equipment. The Global Brand Divisions represents NIKE Brand licensing businesses. The Converse segment designs, markets, licenses, and sells casual sneakers, apparel, and accessories. The Corporate segment consists of unallocated general and administrative expenses. The company was founded by William Jay Bowerman and Philip H. Knight on January 25, 1964 and is headquartered in Beaverton, OR.

L Brands, Inc. engages in the retail of women’s intimate and other apparel, personal care, beauty and home fragrance products. It operates through the following segments: Victoria’s Secret, Bath & Body Works and Victoria's Secret and Bath & Body Works International. The Victoria’s Secret segment sells women’s intimate and other apparel, personal care and beauty products under the Victoria’s Secret and PINK brand names. The Bath & Body Works segment offers body care, home fragrance products, soaps and sanitizers under the Bath & Body Works, White Barn, C.O. Bigelow and other brand names. The Victoria's Secret and Bath & Body Works International segment includes the Victoria's Secret and Bath & Body Works stores located outside of the U.S. and Canada, as well as the online business in Greater China. The company was founded by Leslie Herbert Wexner in 1963 and is headquartered in Columbus, OH.

Ralph Lauren Corporation (NYSE: RL) is a leader in the design, marketing and distribution of premium lifestyle products in four categories: apparel, home, accessories and fragrances. For more than 45 years, Ralph Lauren's reputation and distinctive image have been consistently developed across an expanding number of products, brands and international markets. The Company's brand names, which include Polo by Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren Collection, Black Label, Blue Label, Lauren by Ralph Lauren, RRL, RLX, Ralph Lauren Childrenswear, Denim & Supply Ralph Lauren, Chaps and Club Monaco, constitute one of the world's most widely recognized families of consumer brands.

Key Stats and Financials As of 2019
Market Capitalization
$1.32B
Total Enterprise Value
$3.03B
Earnings Per Share
$0.93
Revenue
$481M
Net Profit
$86.5M
EBITDA
$270M
EBITDAMargin
56.07%
Total Debt
$1.66B
Total Equity
$456M
Enterprise Value / Sales
6.3x
Enterprise Value EBITDAOperating
10.9x
TEVNet Income
35.07x
Debt TEV
0.55x
Three Year Compounded Annual Growth Rate Of Revenue
0.9%
Non-Profit Donations & Grants
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Competitors
Federal Realty Investment Trust Trusts & Funds - Rockville, MD

Federal Realty is a proven leader in the ownership, operation, and redevelopment of high quality retail real estate in the country’s best markets. Built upon foundations of opportunity, we take a disciplined approach to every aspect of commercial retail real estate. Whether it's redevelopment, property management, or acquisitions, we make sound, strategic decisions based on solid demographics, broad experience, and stable resources. This has led to a high quality portfolio of assets. We turn commercial real estate into exciting destination retail centers that suit their exceptional locations.

Saul Centers, Inc. Trusts & Funds - Bethesda, MD

Saul Centers, Inc. (NYSE: BFS) is a self-managed, self-administered equity real estate investment trust, formed in 1993 and headquartered in Bethesda, Maryland. Saul Centers operates and manages a real estate portfolio of 59 community and neighborhood shopping center and office properties totaling approximately 9.5 million square feet of leaseable area. Approximately 85 percent of our cash flow is generated from properties in the metropolitan Washington, D.C./Baltimore area. Saul Centers’ primary operating strategy is to continue its program of internal growth, renovations, and expansions of community and neighborhood shopping centers that primarily service the day-to-day necessities and services subsector of the overall retail market. Saul Centers plans to supplement its internal growth strategy through selective development of new properties and acquisitions of operating properties as appropriate opportunities arise

Acadia Realty Trust Trusts & Funds - Rye, NY

Acadia Realty Trust (NYSE: AKR), is a REIT specializing in the acquisition, re-development and operation of retail and urban mixed-use properties. We focus on acquiring and redeveloping properties located in dense urban or major metropolitan markets and other high barrier to entry markets. Acadia currently owns or has ownership interest in, and operates a portfolio totaling over 10 million square feet across the United States. Founded in 1998, Acadia is one of the industry's top performing shopping center REITs. In fact, we are the top-performing shopping center REIT of the past decade and one of the top five among all REITs over the same period. We continue to aggressively drive the four key components of our business model: maintaining a solid core portfolio of retail properties in densely populated, high quality locations; maintaining a flexible balance sheet coupled with excellent access to capital; executing an ambitious external investment program; and strengthening our talented management team. We attribute our success to our unique business model and to our uncompromising commitment to three core attributes: WE STAY FOCUSED We execute our strategy by focusing on four key business strengths: enhancing our core portfolio, maintaining a strong balance sheet, launching profitable external growth initiatives, and energizing the Acadia Team. WE MAINTAIN DISCIPLINE The very nature of our business is long-term, with horizons measured in years, not quarters. We wait patiently for the right opportunities to present themselves and make strategic decisions that are driven by our commitment to sustain growth over the long term. WE PROVIDE VALUE We believe that the value we consistently create and deliver is one of the attributes most admired by our varied constituency, consumers who shop in our centers, retailers who lease our properties, loyal shareholders who rely on our expertise, our business partners and the talented employees who are the face of Acadia

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