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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 reported financial results for Q1 2023, showcasing net income of $49.4 million, or $0.28 per share, down from $52.8 million and $0.30 per share in Q1 2022. Core FFO increased by 3.8% to $0.55 per diluted share. The company achieved a Cash NOI of $132.6 million, representing a 7.8% growth year-over-year. Occupancy rates remained strong at 97.6% across the portfolio. STAG sold two properties totaling 407,710 square feet for $37.2 million.
Despite challenges in capital markets, STAG expects continued demand driven by supply chain changes, projecting 30.6% cash rent change for new and renewal leases. The company has completed 78.2% of its anticipated leasing for 2023.
On April 11, 2023, STAG Industrial announced the maintenance of its monthly common stock dividend at
- April Record Date: April 28, Payment Date: May 15
- May Record Date: May 31, Payment Date: June 15
- June Record Date: June 30, Payment Date: July 17
STAG Industrial is focused on acquiring and operating industrial properties in the United States, with a portfolio of 562 buildings and approximately 111.7 million rentable square feet as of December 31, 2022. Investors should note the company's consistent dividend, reflecting confidence in its financial footing.
STAG Industrial, Inc. (NYSE:STAG) announced plans to release its first quarter 2023 operating and financial results after the market closes on April 26, 2023. A conference call will follow on April 27, 2023, at 10:00 a.m. Eastern Time. Investors can participate via phone by dialing (877) 407-4018 for U.S. callers or (201) 689-8471 for international. A replay will be available using the code 13737415. Additionally, a simultaneous webcast will be available on the company’s website. As of December 31, 2022, STAG owned 562 buildings across 41 states, comprising approximately 111.7 million rentable square feet.
STAG Industrial, Inc. (NYSE: STAG) announced the appointment of Steven T. Kimball as Executive Vice President—Real Estate Operations, effective this spring. He will focus on asset management and enhancing returns from existing properties. The company also reported that Ben Butcher will retire as Executive Chairman on June 30, 2023, while Larry T. Guillemette will become the independent Chairman. Kimball's appointment concludes a multi-year succession plan following recent management transitions. As of December 31, 2022, STAG's portfolio included 562 buildings across 41 states, totaling approximately 111.7 million rentable square feet.
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