Earnings Call Excerpt
Tanger Factory Outlet Centers Inc. (SKT)
Q4 2008 Earnings Call
February 18, 2009 10:00 am ET
Executives
Stanley K. Tanger – Chairman and Chief Executive Officer
Frank C. Marchisello, Jr. – Executive Vice President and Chief Financial Officer
Analysts
Michael Bilerman- Citigroup
[Quentin Vallaley] – Citigroup
Lindsay Schroll – UBS
Jay Habermann – Goldman Sachs
Jonna Brown – Goldman Sachs
Ben Yang – Green Street Advisors
Michael Mueller – JP Morgan
Dennis Anchor – Private Investor
Presentation
Operator
Good morning and welcome to the Tanger Factory Outlet Center's Fourth Quarter 2009 Conference Call. Please note that during this conference call, some of management's comments may be forward-looking statements regarding the company's property operations, leasing, tenant sales, trends, developments, acquisitions, expansion, and disposition activities, as well as their comments regarding the company's funds from operations, funds available for additional distribution, and dividends.
These forward-looking statements are subject to numerous risks and uncertainties, and actual results could differ materially from those projected due to factors including, but not limited to, changes in economic and real estate conditions, the availability and cost of capital, the company's ongoing ability to lease, develop and acquire properties, as well as potential tenant bankruptcies and competition.
We direct you to the company's filings with the Securities and Exchange Commission for a detailed discussion of the risks and uncertainties.
This call is being recorded for rebroadcast for a period of time in the future. As such, it is important to note that management's comments include time sensitive information that may be accurate only as of today's date, February 18, 2009.
At this time, all participants are in a listen-only mode. Following management's prepared comments, the call will be opened up for your questions. On the call will be Steven Tanger, the company's President and Chief Executive Officer; and Frank Marchisello, Executive Vice President and Chief Financial Officer.
I will now turn the call over to Steven Tanger, please go ahead sir.
Steven B. Tanger
Thank you and good morning everyone. Also on the call is Stanley Tanger, our Chairman; 2008 was a very challenging and interesting year for the REIT industry, our company and our country. Financial losses in all sectors of the economy were huge.
Through it all, Tanger was able to show a positive total return to its shareholders of almost 4%. In fact, for publicly traded REITs with market capitalizations in excess of $1.4 billion, our company ranked number two in total return to its shareholders for 2008.
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