The real estate investment trust (REIT) sector was battered in 2022 as the Federal Reserve increased the prime lending rate in an effort to get outsized inflation back under control. Do worries about a recession explain Tanger Factory Outlet Centers' (NYSE: SKT) elevated dividend yield? Since depreciation and amortization aren't a cash cost (it is an accounting and tax issue, not something you would write a check for), net income tends to understate the cash-flow-generating capacity of the company.