Tanger Factory Outlet Centers Inc. reported higher-than-expected funds from operations in an 8-K filing .

The Greensboro-based real estate investment trust beat Zacks Investment Research estimates by 3 cents per share; Zacks put Tanger at 60 cents per share, and Tanger reported 63 cents.

Quarterly funds from operations for the factory outlet mall operator was $61.9 million. This is more than double the funds from operations it earned for the third quarter of 2017 — $26.7 million — when the firm extinguished $35.6 million in debt ahead of its maturity date.

“We are encouraged by our progress and the overall improvement in the tone of our interactions with tenants and prospects,” Tanger’s CEO, Steven Tanger, said in a press release Thursday. “Our team has successfully increased occupancy by 80 basis points since the end of the second quarter to 96.4 percent for our consolidated portfolio.”

Year-to-date, Tanger reported $23.1 million in net income available to common shareholders — down 54.11 percent from $35.6 million earned in the same period a year prior.

Tanger explained in the filing that this year’s drastic drop was due to a $49.7 million impairment charge related to the firm’s outlet in Jeffersonville, Ohio.

“We remain cautious in our expectations for 2019,” says Tanger. “There may still need to be selective adjustments to rents and term as we aggressively work to ultimately further increase occupancy with productive tenants.”

Tanger stock closed Thursday at $22.46, up 20 cents.