Re: OT- Tanger Factory Outlets (SKT) -OT
I was buying in the low 30s to high 30s.
It's a great little firm, with highly ethical management.
Unfortunately they are in an industry and with Assets that I don't think are well suited to the new environment. I wouldn't be surprised to see SKT hit $11 or less in the next recession.
Think of it as Cigar Butt Investing, figure out a price which would allow you to make money while the firm itself goes to $0.
Their only option would be to diversify into other areas like Housing, Offices, Industrial. IMO - As retail they don't have a very long term future. The properties might be suited to Industrial (near major highways, large plot sizes, new builds can have high ceilings).
I sold out completely around $24 (once I read a little bit more and thought about the business)