Is Tanger Factory Outlet Centers a Buy?
Last year was a terrible one for the retail sector, at least when it comes to brick-and-mortar stores. Right in the center of the storm were mall landlords like Tanger Factory Outlet Centers (NYSE: SKT). That said, you can't lump all of the mall real estate investment trusts (REITs) into one pile and be done with it. Some, like Tanger, are just different, a fact that was on full display in 2020. Here are some things to consider before you decide if this REIT is a buy or not.
Before the coronavirus pandemic, mall real estate investment trusts were already dealing with the so-called "retail apocalypse." While this "apocalypse" was usually blamed on the increasing use of online shopping, there was more to it. Retailers that were falling behind consumer trends and that had leveraged up their balance sheets just couldn't compete and were closing stores or, worse, falling by the wayside.
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Source Fool.com
