Showing posts with label Tanger Factory Outlet Center. Show all posts
Showing posts with label Tanger Factory Outlet Center. Show all posts

Monday, August 26, 2019

Tanger Factory Outlets, whose Steven Tanger is funding Greensboro's new Performing Arts Center with $7.5 million, dropped from $40 per share to $14

https://www.marketwatch.com/investing/Stock/SKT
The Mistake You Are Making With Tanger Factory Outlet Centers: The Safety Of The Dividend

 Tanger Factory Outlet Centers (SKT) shares remain risky and the dividend is not as safe as it looks. I remain bearish on SKT and rate shares a sell.

The issue with SKT continues to be the secular headwinds facing lower quality mall and mall outlet properties.

The continued deterioration in long-term leases is worrisome, and they will need to continue to direct all excess free cash flow towards paying down debt indefinitely as long as cash flows continue to decline.
https://seekingalpha.com/article/4286374-mistake-making-tanger-factory-outlet-centers-safety-dividend

Tanger Factory Outlet Centers Short Interest 
Greensboro's City Council violated their oaths of office and the City Charter on TPAC, enabled by Kathy Manning

 http://greensboroperformingarts.blogspot.com/2018/03/greensboros-city-council-violated-their.html

 "concerning all documentation concerning the financial sustainability of the Tanger Performing Arts Center

 https://greensboroperformingarts.blogspot.com/2018/04/concerning-all-documentation-concerning.html

 From a Roch Smith City of Greensboro records request on STPAC funding; The City doesn't really know how much of the private donations received are actually in hand, and Walker Sanders of The Community Foundation of Greensboro appears to have not released the information while making investment fees on an unknown amount of assets

 http://greensboroperformingarts.blogspot.com/2018/02/from-roch-smith-city-of-greensboro.html

 Greensboro City Council member Tammi Thurm's former employer Randall Kaplan's Wife and Congressional Candidate Kathy Manning's Tammi Thurm $1,000 contribution before she voted them a $30 million unneeded parking deck from which they will personally profit

 http://greensboroperformingarts.blogspot.com/2018/01/former-greensboro-city-council-member.html

 Are City of Greensboro taxpayers and parking deck patrons on the hook for at least $35.1 million not including legal costs, for a parking deck which most of City Council doesn't even know much about, for Kathy Manning, Randall Kaplan, George House and Greg Dillon, who has a contract on the News and Record property?

 https://greensboroperformingarts.blogspot.com/2018/11/are-city-of-greensboro-taxpayers-at.html

 The Community Foundation of Greater Greensboro asks its donors to "bunch" 2018 donations without disclosing much of the money could be forcibly allocated to Greensboro's new Steven Tanger Center for the Performing Arts

 https://greensboroperformingarts.blogspot.com/2018/12/the-community-foundation-of-greater.html

 The Community Foundation of Greater Greensboro's Walker Sanders violated his fiduciary duty to his clients and donors

 https://greensboroperformingarts.blogspot.com/2018/07/the-community-foundation-of-greater.html

 How to mislead a community on $23,108,494.98 Publicly Funded TPAC costs, by Greensboro's City Council, Staff and the 'Private Donors' who knew and said nothing

 https://greensboroperformingarts.blogspot.com/2018/02/how-to-mislead-community-on-2310849498.html

 On US Senator Kay Hagan's Brother in Law David Hagan, Making a Nice Slice off Greensboro's Taxpayers while Sitting on CFGG's Board

 http://hartzman.blogspot.com/2013/09/on-us-senator-kay-hagans-brother-in-law.html

 Performing Arts Center: "[Notable]...Task Force Members"

 GPAC Development / Marketing Task Force; Kathy Manning, co-chair

 GPAC Economic Impact / Feasibility Task Force; Randall Kaplan

 GPAC Development / Marketing Task Force; George House, one of Randall's partners

 http://hartzman.blogspot.com/2012/02/performing-arts-center-notabletask.html

 Local Democratic delegates vote to tell the national fundraising arm to stay out of the North Carolina’s 13th Congressional District primary election, the state’s most heavily contested congressional race between Adam Coker and Kathy Manning, and Greensboro's News and Record reports nothing, two and now one day before the election = Another media rigged primary

 https://greensboroperformingarts.blogspot.com/2018/05/local-democratic-delegates-vote-to-tell.html

 STPAC VIP Parking Control Fraud Math

 http://greensboroperformingarts.blogspot.com/2017/12/stpac-vip-parking-control-fraud-math.html

 Downtown Greensboro Parking Deck Math = City Council lied to our community and may have broken a few laws

 http://greensboroperformingarts.blogspot.com/2017/12/downtown-greensboro-parking-deck-math.html

 Two reasons among many that a GPAC with 3,000 seats probably won't work as well as DPAC with 2,700 seats

 http://hartzman.blogspot.com/2013/06/one-reason-among-many-that-gpac-with.html

 Kathy Manning, Randall Kaplan's wife, lobbying for a GPAC and their new hotel

 http://hartzman.blogspot.com/2013/08/kathy-manning-randall-kaplans-wife.html

 On GPAC and the Community Foundation

 http://hartzman.blogspot.com/2013/08/on-gpac-and-community-foundation.html

 Jeff Sykes carves up Nancy Vaughan, Roy Carroll, Randall Kaplan and the rest of the crooked crew in downtown Greensboro

 http://greensboroperformingarts.blogspot.com/2017/12/jeff-sykes-carves-up-nancy-vaughan-roy.html

























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Monday, January 11, 2016

Roy, Jim, Marty, Tanger, Nancy's and etc's High Colonic; "All the phantom wealth piled up in China's boost phase is now melting down and ...will trigger a meltdown in global phantom assets."

"...The mainstream financial media is delighted to promote the many links between the U.S. and Chinese economies when the two economies are feeding each other's expansion in a tightly coupled virtuous cycle.

Our local media cream themselves
over massively leveraged oligarchs,
siphoning taxpayer funded incentive money
with the help of Greensboro's City Council

...China is integral to the global financial markets, and so its slowdown and capital flight are toppling carry trade and other risk-off financial dominoes.

China is tightly coupled to the U.S. and global economies via capital flows and supply/demand.

If capital flows diminish, 
Greensboro may have a tough time
refinancing more than $100 million in short term debt, 
especially as Puerto Rico among others 
defaults on municipal debt
like the money Nancy Vaughan and friends just chose to borrow by fiat
without a referendum or a public hearing.

But once China's slowdown starts impacting the American economy, the mainstream financial media trundles out the usual pundit suspects to declare that the U.S. and Chinese economies are decoupled...

Just like Greensboro News and Record's Richard Barron
who relatively only interviews and reports 
on what sold out economists spew to the majority of dumb-ass locals
most of whom couldn't figure out they have been robbed
by real estate developers and City Council
like Andrew Brod and Obamacare 

China has provided marginal demand in everything from iron to oil to machine tools. Now that China's demand is faltering, global demand is weakening and profits are collapsing because China provided the critical marginal demand that fueled immense profits.

Which are now disappearing,
but most who read the News and Record don't know
as they were never informed

This decline in marginal demand is crushing commodity-based economies and triggering recessions as profits, sales and wages all decline.

But the STPAC is now more than $10 more
than we were originally lied to about
as gas and construction costs plummet

...The tidal wave of cash flooding out of China has provided marginal demand for high-priced real estate in Europe and the U.S.

Same wave our local developers have been riding
only in derivative

...Now that trillions of yuan of phantom wealth are disappearing in China, those immense capital flows into Western assets are drying up. A staggering percentage of China's household wealth is tied up in illiquid and overvalued real estate.

Not very unlike Greensboro's

Depending on how much leverage, corruption and wealth has piled up ...this phase may last a few years.

Check

...As the economy weakens, the momentum is to the downside.

Everything that worked...every investor and leader was a genius and could do no wrong--reverses: nothing works any more.

How much money has Marty and Roy borrowed to spend
over the last few years,
and how much are they saying they are going to spend going forward?

Seems almost unbelievable, doesn't it? 

...leaders' efforts to reverse the decline are ham-handed failures.

This decline is inevitable in ...economies that play fast and loose with credit/debt and leverage. All the phantom wealth piled up in China's boost phase is now melting down, and ...will trigger a meltdown in global phantom assets."

http://charleshughsmith.blogspot.com/2016/01/the-china-syndrome-coming-global.html
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As markets falter, the News and Record has failed to report the contents and descriptions of the investments pledged for the STPAC and Say Yes Guilford, most of which isn't even in hand yet.
http://www.nasdaq.com/symbol/skt/stock-chart?intraday=off&timeframe=3y&splits=off&earnings=off&movingaverage=None&lowerstudy=volume&comparison=off&index=&drilldown=off
"Naming announcement event!

 On September 9, 2013, we announced the name of the center 
– the Steven Tanger Center for the Performing Arts
– and Mr. Tanger challenged the community to raise $35 million."

 http://tangerperformingarts.com/
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.
Tanger's stock isn't much higher than 2013 when Steven announced his gift.

 Guess where the money is located.

 Guess where the rest of the money not yet delivered is located.

 What happens if the stock gets cut in half, 
along with a majority of the rest of the pledges?

 Not one Greensboro City Council member
knows what the monies are invested in to my knowledge.
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"Tanger Factory Outlet Centers, Inc. and subsidiaries is one of the largest owners and operators of outlet centers in the United States and Canada. We are a fully-integrated, self-administered and self-managed REIT, which focuses exclusively on developing, acquiring, owning, operating and managing outlet shopping centers. As of December 31, 2014 , our consolidated portfolio consisted of 36 outlet centers, with a total gross leasable area of approximately 11.3 million square feet. These outlet centers were 98% occupied and contained over 2,400 stores, representing approximately 380 store brands. We also had partial ownership interests in 9 outlet centers totaling approximately 2.6 million square feet, including 4 outlet centers in Canada."

 http://secfilings.nasdaq.com/edgar_conv_html%2f2015%2f02%2f24%2f0000899715-15-000062.html#FIS_BUSINESS
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"Total Debt/Equity - 2.90" = 290% of equity

 http://www.nasdaq.com/symbol/skt/stock-report
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Debt/Equity Ratio is a debt ratio used to measure a company's financial leverage, calculated by dividing a company’s total liabilities by its stockholders' equity. The D/E ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity.

 The formula for calculating D/E ratios can be represented in the following way:

 Debt - Equity Ratio = Total Liabilities / Shareholders' Equity

 The result may often be expressed as a number or as a percentage.

 ...the debt/equity ratio measures a company’s debt relative to the total value of its stock, it is most often used to gauge the extent to which a company is taking on debts as a means of leveraging (attempting to increase its value by using borrowed money to fund various projects). A high debt/equity ratio generally means that a company has been aggressive in financing its growth with debt. Aggressive leveraging practices are often associated with high levels of risk. This may result in volatile earnings as a result of the additional interest expense.

 For example, suppose a company has a total shareholder value of $180,000 and has $620,000 in liabilities. Its debt/equity ratio is then 3.4444 ($620,000 / $180,000), or 344.44%, indicating that the company has been heavily taking on debt and thus has high risk.

 http://www.investopedia.com/terms/d/debtequityratio.asp#ixzz3wz8LB9sD
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Tanger's debt appears to be 290% of the value of the shares outstanding
in a recessionary retail environment  
and the News and Record is clueless
as the overwhelming majority of those whose jobs it is to report news
don't understand finance,
and the ones who do, Jeff Gauger for instance, 

won't say anything, because if he did he'd lose his job.
.
.
"19 High Yielding Income Growth Stocks With Low Debt Ratios

 Boardwalk Pipeline Partners (BWP)...The total debt represents 45.01 percent of the company’s assets and the total debt in relation to the equity amounts to 91.28 percent.

 http://www.trefis.com/stock/azn/articles/175801/19-high-yielding-income-growth-stocks-with-low-debt-ratios/2013-03-26

Tanger "Total Debt/Equity - 2.90" = 290% of equity


"Why ONEOK’s Leverage Is a Key Concern for Investors

 ONEOK’s (OKE) current debt-to-equity ratio is 2.2x. In comparison, midstream companies Spectra Energy (SE), Enterprise Products Partners (EPD), Enable Midstream Partners (ENBL), and Enbridge Energy Partners (EEP) have debt-to-equity ratios of 1.4x, 1.1x, 0.4x, and 0.8x, respectively.

 ...Debt-to-EBITDA ratios are often used to assess a company’s ability to repay debt. It’s commonly used by credit rating agencies to determine a company’s credit rating. A lower ratio is considered better. 
http://finance.yahoo.com/news/why-oneok-leverage-key-concern-210859372.html;_ylt=AwrC1TFvSZRWe3kAiAXQtDMD;_ylu=X3oDMTByOHZyb21tBGNvbG8DYmYxBHBvcwMxBHZ0aWQDBHNlYwNzcg--
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"RBS tells investors: 'Sell everything'

RBS has advised clients to brace for a "cataclysmic year" and a global deflationary crisis, warning that the major stock markets could fall by a fifth and oil may reach $US16 a barrel.

The bank's credit team said markets are flashing the same stress alerts as they did before the Lehman crisis in 2008.

"Sell everything except high quality bonds. This is about return of capital, not return on capital. In a crowded hall, exit doors are small," it said in a client note.

 http://www.smh.com.au/business/markets/rbs-tells-investors-sell-everything-20160111-gm3ssa.html#ixzz3wzBXhHAb
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"...real estate companies usually buy out the entire property, such transactions require large upfront investments, which are quite often funded with a large quantity of debt. One metric that investors pay attention to is the degree of leverage the real estate company has, which is measured by the debt-to-equity (D/E) ratio. In May 2015, the D/E ratio for the real estate sector ranged from 0 to 1,451, and the average was 161.

Tanger "Total Debt/Equity - 2.90" = 290% of equity


A few large outliers in the distribution of D/E ratios in the real estate sector cause skewed results for the average D/E ratio. Analysts often supplement the average metric with the median one to get a sense of the typical D/E ratio. In May 2015, the median D/E ratio was 107.

http://www.investopedia.com/ask/answers/060215/what-average-debtequity-ratio-real-estate-companies.asp#ixzz3wzCH0BhW

No one knows how leveraged Roy and Marty are,
but if the markets crack, 
Greensboro's taxpayers will have been sold a much bigger bridge
than originally anticipated, 
and if so, the blame should be placed on Greensboro's finance department
City Council, and CFGG's Walker Sanders among others
as they misled the public, again

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