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STAG Industrial, Inc. (NYSE: STAG) is a real estate investment trust (REIT) that specializes in the acquisition and operation of single-tenant, industrial properties across the United States. The company primarily focuses on warehouses and distribution buildings, contributing significantly to the logistics and supply chain sectors.
STAG Industrial meticulously identifies value in various markets, industries, and tenant types utilizing a proprietary risk assessment model. Properties are typically acquired with purchase prices ranging from $5 million to $50 million, ensuring a diversified and balanced portfolio. The company generates nearly all its income from rental income derived from its extensive network of properties, primarily located in Midwestern and Eastern U.S. cities.
Recent Achievements:
- For Q2 2023, STAG achieved record leasing spreads, showcasing robust operational results driven by resilient market trends.
- In Q3 2023, the company acquired 12 buildings worth $204.3 million, reflecting an 84.7% occupancy rate upon acquisition.
- In Q4 2023, STAG set quarterly records for Cash Rent Change and Same Store Cash NOI, indicating strong financial health and growth potential.
- In Q1 2024, the company maintained an occupancy rate of 100% upon acquiring a new building for $50.1 million.
Financial Condition:
- As of Q4 2023, STAG had a Net Debt to Annualized Run Rate Adjusted EBITDAre of 4.9x and liquidity of $615.4 million.
- As of Q1 2024, Net Debt to Annualized Run Rate Adjusted EBITDAre remained at 4.9x, with liquidity at $574.1 million.
Partnerships and Projects: STAG's clients include prominent air freight and logistics firms, automotive industries, and industrial equipment companies. The company's strategic focus on single-tenant properties ensures stable and predictable revenue streams, enhancing its market position.
Development and Growth Initiatives: The company continues to invest in development projects and has shown considerable progress in stabilizing acquisitions. STAG also manages an active pipeline of potential transactions, adapting to market conditions and capitalizing on opportunities as they arise.
STAG Industrial's commitment to strategic acquisitions, operational efficiency, and market adaptability positions it as a key player in the industrial real estate sector. For more information, visit the company’s website at www.stagindustrial.com.
STAG Industrial, Inc. announced its financial results for the first quarter of 2024, showcasing solid internal growth despite a drop in net income compared to the same period in 2023. The company achieved impressive Core FFO and Cash NOI increases, as well as positive leasing and acquisition activities. While facing market volatility, STAG remains well-positioned for future transactions.
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