Good you morning. for And thank joining us.
the address timing the of Before results, fourth call our want to quarter. this into of we quarter get for XXXX our discussion I performance and year, outlook this earnings
have dividend we’re consecutive S&P after of and consecutive index. announced premise its are closed, The XX our extremely growth, credit long-term proud our the high-yield dividend index removed Friday risk for S&P market is this This years. and past from that increased being dividend to shares primary
the deleted their XX, threshold market Monday, the cap be outlook index, there and results date on February want from with measurement in below provide our be index heightened our Consequently, that our billion. our of their track for market we trading we to prior open December will as the with However, to funds of Since which $X.X expediently XXXX volume may XXXX. X. shares was of
our we in capping to portfolio of results. year execution, we a with leasing ended turning Now XX%, delivered fourth better strategic contributing solid succeeded consolidated exceeded the the our particularly year of strong occupancy goals, highly operating with quarter, to income. our same-center We guidance who where of expected tenants. desirable our key occupied our proud keeping than accomplishing net I'm of team, one in with leasing centers performance
several which consolidated we with square sequentially faced to the In back industry to basis XX and resulted many basis brand-wide ended portfolio the and that coming up year-over-year. related occupancy year Tanger similar with XXXX, recapturing in restructurings, space level experienced, of XXX year. up bankruptcies headwinds points we XXX,XXX this points particularly Even peers us, during feet
leasing has our and deliver, our Centers of compelling offer tenants. to a ongoing and team provide been able business Tanger both success shoppers supports our to The confidence in that
brick-and-mortar of distribution model retail evolve, continues are element stores that the critical are increasingly omni-channel discovering While successful retailers strategies. a to
halo a them. consumers physical effect often for goals priority in higher Driving are time and spend of dwell that and and sales and help produces with channels. connection online in combination additional stores locations brand retailers results achieve The physical much both
outlet name about Many value occupancy, adding As to our from XX%. continue to a solely focused result, interest online our core the had tenants we of brands expanding on committed are remains high-quality including distribution our previously retailers space stores. that and which are remain seeing channel in Brand low-cost and outlet increased from proposition, distribution. of benefit
such tenants stores as popular Tanger and and vibrant concepts. tenant Centers our including new to focused base, restaurant off-price various furniture are We diversifying decor on home further adding stores,
permanent existing traction gain to new tenants. potential testing and as pop-up long-term as the become tenants outlet Our business continue the that temporary efforts to strategy development generate have well and stores, and from interest
leasing our efforts marketing Tanger full of respectively, continue and quarter XXX shoppers highly our year, programs, result fourth Centers. a for and up As basis traffic centers enhanced XX and points, the focused in to as enjoyed the frequent favorable
I this a the XX% and retailer the XXth we our mentioned demonstrates leased, the commitment year space amount consider exceeded during consecutive which Tanger As of unwavering appeal business. is the earlier, to year testament you drive our ended we to of When achievement strong have This is at recaptured brand. XX% XXXX, relationships year end. our the
were an tenant NOI-weighted portfolio square prior For $XXX the were sales basis, per average trailing XX, up December the foot, foot, from for $XXX X%. they up months square consolidated the X% On XX ended year. per
X.X%. by the basis increased performance to sales tenant basis points NOI the Same-center XX year year declined for XX fourth compared prior points by quarter Same-center and periods. the for
the While reflect we which face XXXX. results significantly better than these our we year to challenges guidance, in faced will continue last and
leases XXX months, X.X XX million trailing feet. square totaling approximately the commenced, For
rental and X.X% average a straight-line X.X% rates blended commenced leases less increased for in basis basis cash a XXXX. Our on that on all
progress to high increased priority. a occupancy ahead, maintaining as pressure make through XXXX, spreads we a as anticipate we on Looking we continue
portfolio NOI, basis Kitchen average. which last XXX discussed quarter, paying about of the and rents were impact all of our fluid. Collection Maternity Forever stores the on to square some The As remain feet square while stores, situations above points of have January these Dressbarn is we in XXX,XXX Destination and XXXX known of recaptured already our related many XX and certain foot per same-center
strategic to season between the centers period the We key effort, marketing in a Another get to our to to is product shoppers our were highest. the and early initiatives on in shorter order marketing assortment traffic Christmas, and selling centers. based and engagement Thanksgiving customer concentrated when inventory focus which continues our drive
additional creating we’re experiential an extend reason shopping. shoppers to and of temporary in point, centers, highlighting that each experiences come our centers which We them visit. to have events encourage focused both social and the to also gives our on To investing element long-term at and
lightings than experiences the more shops, wine hosted includes which celebrations, some more. Overall, we tree holiday costume and and much XXXX, family events, XXX resulted black as contest, festivals, party In in Halloween events sip increase of average to X%. our an event traffic proven will of strategy shoppers draw XXXX. in to an important time and more component in than These marketing be events have continue periods comparable over
highly have know grow various make also We designed and a and segment XXXX. and We more it TangerClub our programs in continued segments develop personalized a shoppers new online priority digital engage with we this membership marketing to to approach. target in key are to engaged, our customer
of prior year. resulted more end the the XXXX Our XX% members having TangerClub of to approximately the efforts compared in at end
effectively all visits new shoppers, refine will marketing improved have value, and and understanding and on our These gaining the and conversion. see we focus we By more opportunity to right now people and technology. efforts where -- are driving areas better and existing successful we drawing XXXX, engagement a and ever-improving track the In are enhance record continue personalization our to have loyalty. to providing brand achieving Through innovation are data more we we we have and targeting results. sales with resources, the name shoppers, right
cognizant both While we and we of of initiatives, leasing facing. remain success our by the are encouraged headwinds we’re the marketing
space there have be I to later In departures could anticipate we known additional discussed, retailer back this coming addition year.
intent and overcome aggressive permanent XXXX, temporary of with as vacancies, as we XXXX Given target existing to achieve this a were and pop-up mix including known as the to in in new stores. as we well the success backdrop, be leasing and continue unknown tenants and will
add To tenant to or interesting offering. and mix. to and sell opportunities seeing to and our out-parcels some tenants upgrade diversify We're our high-volume food additional non-traditional to hotel, multifamily users retail lease
re-leasing updates And as look space working diligently the are to providing will While teams the our year take progresses. recaptured the forward across company. we time,
understandable at the While retail world, under while of annual the decline our all company's especially balance Tanger, increases traffic our stability of the of challenges disappointing our with in price and both occupancy - and given today’s and sheet, us free cash sales. - strong is to flow, high share the
sales vacancies existing remains list Despite of outlet a to both The of see efforts. and - and lease to - continuing closures, well-publicized tenants. part the store important to distribution inexpensive channel many we're relatively a new continuing retailers highly
success well-conceived Preleasing is outlet our there on markets. in expectations schedule. preleasing and shows Nashville, initial good Tennessee, meeting demand projects Our for strong is a at
Officer. We thorough search a are Operating to continuing process Chief identify new President and a
to the time. process ever-changing this to As the right taking find help navigate expected, effectively landscape is person retail
we to update - are We’ll on the focused now appropriate at are person time. you We getting happy right finding in the someone than be more quickly. on
a Finally, among of to Directors such annualized increased Since in our each May dividend cash basis equity share. XX per a dividend paid point putting to increase per share or of a $X.XX becoming company has XXXX, approved quarter milestone. small company each our has have our year, us in has and REITs a group public dividend $X.XX achieved a the very Board
proud We’re of record. all very this
I'd again retail the like creativity work, the their thank team Tanger hard evolving dedication landscape. for navigating and and to
outperformance their direct year Our last a result is efforts. of
in move confident will these our team continue we into I'm XXXX, As demonstrate to qualities.
regarding now to recap brief some Jim financial balance results, guidance. our a like I'd With take sheet provide the details to turn that, to call and you our over through XXXX
