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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 (NYSE:STAG) announced its Q2 2024 financial results on July 30, 2024.
Key highlights include:
- Net income per basic and diluted share increased to $0.33 from $0.29 YoY.
- Net income attributable to common stockholders rose to $59.7M from $51.6M YoY.
- Core FFO per diluted share increased 8.9% to $0.61.
- Cash NOI grew 10.3% to $148.4M, while Same Store Cash NOI rose 6.1% to $138.2M.
- Cash Available for Distribution rose 9.1% to $95.1M.
- Acquired 10 buildings for $225.6M and sold 7 buildings for $78.2M.
- Achieved an occupancy rate of 97.1%.
- Moody's upgraded the company's outlook to 'Positive'.
STAG will host a conference call on July 31, 2024, at 10:00 a.m. Eastern Time to discuss these results.
STAG Industrial announced that its Board of Directors has maintained the monthly common stock dividend at $0.123333 per share. The company declared dividends for the third quarter of 2024, with the following details:
July 2024: Record Date - July 31, Payment Date - August 15, Dividend per Share - $0.123333
August 2024: Record Date - August 30, Payment Date - September 16, Dividend per Share - $0.123333
September 2024: Record Date - September 30, Payment Date - October 15, Dividend per Share - $0.123333
STAG Industrial (NYSE: STAG) announced it will release its Q2 2024 operating and financial results on July 30, 2024, after market close. This will be followed by a quarterly earnings conference call on July 31, 2024, at 10:00 a.m. Eastern Time. Investors can access the call toll-free at (877) 407-4018 or internationally at (201) 689-8471. A replay will be available post-call by dialing (844) 512-2921 domestically or (412) 317-6671 internationally, using the passcode 13747218. The call will also be webcast live on the company's Investor Relations website.
STAG Industrial announced the appointment of Vicki Lundy Wilbon to its Board of Directors effective July 1, 2024. Ms. Wilbon brings extensive experience from her role at The Integral Group, where she has been Executive Vice President since 2016 and a Principal since 2003. Her expertise in real estate development and management, particularly in urban revitalization projects, is expected to provide valuable insights to STAG Industrial. Ms. Wilbon also serves on various boards and holds a Bachelor of Science degree from Purdue University. The company highlights her fresh perspective and operational skills as key benefits for their strategy.
STAG Industrial (NYSE: STAG) announced its participation in the NAREIT 2024 Annual REITweek Conference, taking place this week.
In preparation for the conference, the company updated its investor presentation and business update, accessible on their website under the Investor Relations section.
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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