Tanger (SKT) risk factors, FY2024 10-K

Risks Related to Real Estate Investments

1. 01The economic performance and the market value of our centers are dependent on risks associated with real property investments
2. 02We may be unable to develop new centers or expand existing centers successfully
3. 03Real property investments are relatively illiquid
4. 04Properties have been in the past and may be in the future subject to impairment charges, which can adversely affect our financial results
5. 05Dispositions may not achieve anticipated results
6. 06We face competition for the acquisition and development of centers, and we may not be able to complete acquisitions or developments that we have identified
7. 07We may be subject to environmental regulation
8. 08We may incur significant costs to comply with the Americans With Disabilities Act and fire, safety and other regulations

Risks Related to our Business

1. 09Conditions that adversely affect the general retail environment could materially and adversely affect us
2. 10Our earnings and therefore our profitability are dependent on rental income from real property
3. 11Our operations are subject to the results of operations of our retail tenants. As noted above, a portion of our rental revenues are derived from percentage rents that directly depend on the sales volume of certain tenants
4. 12Significant inflation could negatively impact our business
5. 13Certain of our properties are subject to ownership interests held by third parties, whose interests may conflict with ours and thereby constrain us from taking actions concerning these properties which otherwise would be in our best interests and our shareholders' interests
6. 14We face risks associated with climate change and severe weather
7. 15An uninsured loss or a loss that exceeds our insurance policies on our centers or the insurance policies of our tenants could subject us to lost capital and revenue on those centers
8. 16Our Canadian investments may subject us to different or greater risk from those associated with our domestic operations

Risks Related to our Indebtedness and Financial Markets

1. 17We are subject to the risks associated with debt financing
2. 18The Company depends on distributions from the Operating Partnership to meet its financial obligations, including dividends
3. 19We may not be able to obtain additional capital to further our business objectives
4. 20The Operating Partnership guarantees debt or otherwise provides support for a number of joint venture properties
5. 21Adverse changes in our credit ratings could negatively affect our financing ability
6. 22Our interest rate hedging arrangements may not effectively limit our interest rate risk exposure
7. 23The price per share of our stock may fluctuate significantly
8. 24the real estate industry, or the retail industry;
9. 25debt or equity securities (including securities issued by other real estate-based companies);
10. 26securities, that may lead prospective shareholders to demand a higher annual yield from future dividends;
11. 27volatility and causing the further erosion of business and consumer confidence and spending;
12. 28shutdowns or negative impacts on the U.S. economy;
13. 29have business relationships with;

Risks Related to Federal Income Tax Laws

1. 30If we fail to qualify as a REIT, our operations and distributions to shareholders would be adversely affected
2. 31We may need to incur additional borrowings to meet the REIT minimum distribution requirement and to avoid excise tax
3. 32Complying with REIT requirements may cause us to forego otherwise attractive opportunities or liquidate otherwise attractive investments
4. 33The tax imposed on REITs engaging in “prohibited transactions” may limit our ability to engage in transactions which would be treated as sales for U.S. federal income tax purposes
5. 34Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities
6. 35Dividends payable by REITs do not qualify for the reduced tax rates available for some dividends
7. 36The U.S. federal income tax treatment of the cash that we might receive from cash settlement of the forward sale agreement is unclear and could jeopardize our ability to meet the REIT qualification requirements
8. 37Changes to the U.S. federal income tax laws, including the enactment of certain tax reform measures, could have an adverse impact on our business and financial results

General Risks

1. 38Cyber-attacks or acts of cyber-terrorism could disrupt our or our third-party providers' business operations and information technology systems or result in the loss or exposure of confidential or sensitive customer, employee or Company information
2. 39advanced persistent threats;
3. 40In recent years, there has been an increased focus from regulators, investors and other stakeholders on metrics and reporting related to ESG factors
4. 41Our success depends, in part, on our ability to attract, retain and develop talented employees, and our failure to do so, including the loss of any one of our key personnel, could adversely impact our business
5. 42Use of artificial intelligence presents risks and challenges that could impact our business