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If oil continues to climb, so too will gas prices and consumers will have less money to spend at retail stores. In turn, Cramer said more consumers will go to outlet stores, where there are lower prices on goods.

Tanger Factory Outlet Centers is the only public real estate investment trust that's a pure play on outlet malls, Cramer said. It operates 33 malls, which are located in suburban areas in 22 different states. It also has a conservative balance sheet and an array of tenants, where no one tennat makes up more than 9 percent of its business.

Cramer thinks SKT is worth a look right now, but to learn more he spoke with CEO Steve Tanger on Thursday's program. Watch the video to see the complete conversation.

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