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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.
STAG Industrial reported its Q4 and full-year 2022 results on February 15, 2023. The Company revealed a net income of $29.7 million or $0.17 per share for Q4 2022, down 65.5% from $86.2 million in Q4 2021. Core FFO grew by 7.8% to $0.55 per diluted share for Q4, with annual Core FFO at $2.21, a 7.3% increase. Cash NOI surged 13.7% year-over-year to $130.1 million in Q4. The Company maintained a high occupancy rate of 98.5% and achieved a Cash Available for Distribution of $86.1 million, up 16.1% from Q4 2021. STAG also acquired a building for $8.1 million during the quarter.
STAG Industrial has announced the tax treatment for its 2022 common stock dividends, totaling $1.459170 per share, which includes $1.172486 in ordinary taxable dividends and $0.121526 in capital gain distribution. The record date for the final dividend was December 31, 2022, and it was payable on January 17, 2023, with a dividend amount of $0.121667 per share. Shareholders are advised to consult tax advisors regarding individual tax implications. The company has no foreign taxes for 2022, ensuring a clear dividend structure for its investors.
STAG Industrial has announced an increase in its monthly common stock dividend to $0.122500, which translates to an annualized dividend of $1.47. The first quarter dividends are scheduled with record dates on January 31, February 28, and March 31, 2023, all with payment dates on February 15, March 15, and April 17, respectively. As of September 30, 2022, STAG Industrial's portfolio includes 563 buildings across 41 states, totaling approximately 111.6 million rentable square feet.
STAG Industrial (NYSE: STAG) has announced its plans to release the fourth quarter and full year 2022 operating and financial results on February 15, 2023, after market close. The quarterly earnings call is scheduled for February 16, 2023, at 10:00 a.m. Eastern Time. Participants can join the call via phone or listen to a webcast on the Company's website. As of September 30, 2022, STAG Industrial owns 563 buildings across 41 states, totaling approximately 111.6 million rentable square feet.
STAG Industrial, Inc. (NYSE:STAG) will participate in NAREIT's REITworld 2022 Annual Conference starting November 14, 2022. The company has prepared a business update presentation accessible on its website under the Investor Relations section. As of September 30, 2022, STAG owns 563 buildings across 41 states, encompassing around 111.6 million rentable square feet. This event will highlight the company's strategic direction and operational updates.
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