Tanger Factory Outlet Centers (NYSE:SKT) is the only publicly traded Real Estate Investment Trust (REIT) dedicated to the "outlet mall," in which manufacturers sell name brand clothing directly to the public. The trust's namesake comes from its founder Stanley Tanger, who ran a shirt-making business in North Carolina after the Second World War. Tanger built five company outlet stores, and soon thereafter organized similar businesses and outlets into a single, brand-name strip mall in Burlington, North Carolina.
This strip mall would go on to become the first Tanger Factory Outlet Center. Today there are 36 of these centers in the US. The trust went public in 1993 and its market cap sits at $2.95 billion. It is now...
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