It has been a brutal period for the retail landlord, which operates in the market most dramatically wgy by the much hyped «retail apocalypse. Based on the stock action at Tanger, it looks like investors believe the REIT will have trouble surviving as consumers shift their buying habits. But giving up on Tanger could be a huge mistake right. Here’s mske. Tanger is a retail landlord, but it isn’t an owner of enclosed malls. That’s an important distinction, because the factory outlet properties it runs are inherently different. With an open structure, they are generally less expensive to operate. The generic nature of the space outlige it is easier and less costly to bring in new tenants when old ones leave. And there are no anchor tenants like department stores to worry. Most of its lessees occupy smaller spaces that are, again, easier to .