Tanger Raises FY2025 FFO Guidance from $2.24-$2.31 to $2.28-$2.32 vs $2.28 Est
Benzinga Newsdesk 12 months ago
NewsGuidance
Guidance for 2025Based on the Company's results to date, its view on current market conditions, and its outlook for the remainder of 2025, management currently believes the Company's full-year 2025 net income and FFO per
Guidance for 2025
Based on the Company's results to date, its view on current market conditions, and its outlook for the remainder of 2025, management currently believes the Company's full-year 2025 net income and FFO per share will be as follows:
| For the year ending December 31, 2025: | Current | Previous | |||
| Low Range | High Range | Low Range | High Range | ||
| Estimated diluted net income per share | $0.95 | $0.99 | $0.93 | $1.00 | |
| Depreciation and amortization of real estate assets - consolidated and the Company's share of unconsolidated joint ventures | 1.30 | 1.30 | 1.28 | 1.28 | |
| Impairment charge - consolidated | 0.04 | 0.04 | 0.04 | 0.04 | |
| Estimated diluted FFO per share (1) | $2.28 | $2.32 | $2.24 | $2.31 | |
| (1) | Amounts may not recalculate due to the effect of rounding. |
The above estimates reflect the following key assumptions (dollars in millions):
| For the year ending December 31, 2025: | Current | Previous | |||||||
| Low Range | High Range | Low Range | High Range | ||||||
| Same Center NOI growth - total portfolio at pro rata share | 3.50 | % | 4.25 | % | 2.5 | % | 4.0 | % | |
| General and administrative expense | $76.5 | $79.5 | $76.5 | $79.5 | |||||
| Interest expense - consolidated | $65.3 | $66.3 | $63.7 | $65.3 | |||||
| Other income (expense) (1) | $— | $0.5 | $— | $1.0 | |||||
| Annual recurring capital expenditures, renovations and second generation tenant allowances | $60.0 | $65.0 | $55.0 | $65.0 | |||||