Things are starting to look up for Tanger Factory Outlet Centers (NYSE: SKT) investors. Shares of the outlet mall operator recently hit a 10-month high, and that’s saying something since it’s been that long since the country was paralyzed by the COVID-19 crisis.
Things haven’t been easy for the operator of 38 upscale outlet shopping centers. It suspended its beefy quarterly distributions in May. Some of its tenants have gone out of business. However, with shoppers starting to come back and a value proposition that makes sense in the new normal it’s just a matter of time before the payouts return. Tanger Factory Outlet Centers is starting to win back investors, too — but where will it be a year from now? Let’s take a closer look to see where the company and the stock should be in early 2022.