Greensboro-based real estate investment trust Tanger Factory Outlet Centers Inc. has sold four outlet centers — including one in Nags Head — for an estimated $130.5 million in gross proceeds.

The sale, which included property in Ocean City, Maryland, Park City, Utah, and Williamsburg, Iowa, closed Monday.

“By completing these asset sales,” says Chief Executive Officer Steven Tanger, “we are strengthening the overall quality, reducing the average age, and improving the longer-term growth profile of the portfolio.”

The properties account for 6.8 percent of Tanger’s consolidated portfolio square footage and 5.1 percent of its forecasted 2019 portfolio net operating income.

Tanger anticipates the sale to be accretive to net income for 2019 by approximately 50 cents per share.

“We believe the benefits of these dispositions over time will more than offset the expected short-term earnings dilution,” said Tanger, “given that these assets are not expected to produce the long-term growth in cash flow that we anticipate from our core portfolio. Our dividend remains well-covered even with the sale of these assets.”

An estimated $128.7 million of the net proceeds will be used to pay outstanding debt balances, as well as opportunistic share repurchases throughout the year.

Tanger does not anticipate this sale generating a special dividend in 2019.

Tanger’s stock price is down 2.96 percent to $20.35 per share in trading Monday.