Tangers outlets (SKT) is climbing again. Here is another example of businesses who had their stock price beat up as the result of a false assumption.
Many mall REIT's were beat up when the "herd" assumed that Amazon was "taking over the world". These situations are perfect for taking advantage of the sentiment going too far in one direction.
Put your boots on the ground with SKT outlets and you'll see thriving malls with a lot of upscale stores. While they are supposed to be "outlets", they are often frequented by affluent folks who frame them as outlets. SKT's core market is focused on the affluent and they are spending.
Additionally, many people still want to get out and shop hands on. That segment will always be there. I often see my wife and her sister spend countless hours at these types of "outlets".
It is still the thrill of the hunt of the great deal and there are still many "hunters" out there. Check it out next time you see a Tanger outlet and you will be surprised.
