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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, a real estate investment trust, will participate in Citi's Global Property CEO Conference during the week of March 7, 2022. The Company has released a business update presentation available on its website under the Investor Relations section. As of December 31, 2021, STAG Industrial's portfolio includes 544 buildings across 40 states, totaling approximately 108.6 million rentable square feet. This participation aims to enhance investor relations and showcase the Company's growth strategy.
STAG Industrial (NYSE: STAG) reported its Q4 2021 financial results, revealing a net income of $86.2 million, or $0.50 per share, down from $94.6 million and $0.63 per share in Q4 2020. However, Core FFO rose 19.2% to $90 million, or $0.51 per share, compared to $75.5 million and $0.49 per share in the previous year. Cash NOI increased by 14% to $114.5 million. The company acquired 35 buildings for $689.5 million and sold eight buildings for $112.5 million, achieving an occupancy rate of 96.9% across its portfolio. The upcoming management transition is emphasized as a key development.
On January 18, 2022, STAG Industrial announced the tax treatment of its 2021 dividends for common and preferred stockholders. The common stock dividends total $1.498326 per share, with ordinary taxable dividends of $1.119899. The preferred stock dividends total $0.429688 per share, with ordinary taxable dividends amounting to $0.400294. Notably, no foreign taxes were incurred in 2021. Shareholders are urged to consult personal tax advisors for individual tax treatment.
STAG Industrial has announced an increase in its monthly common stock dividend to $0.121667, resulting in an annualized dividend of $1.46. The dividends for the first quarter of 2022 include payments for January, February, and March, scheduled for February 15, March 15, and April 18, respectively. This decision reflects the company's commitment to returning value to shareholders. STAG Industrial operates a portfolio of 517 industrial properties across 40 states, totaling approximately 103.4 million rentable square feet as of September 30, 2021.
STAG Industrial announced a management succession plan effective July 1, 2022. Benjamin S. Butcher will transition from CEO to Executive Chairman, while William R. Crooker, currently President, will step into the CEO role. Matts S. Pinard has been appointed as Executive Vice President, CFO, and Treasurer. This transition aims to ensure operational and strategic continuity, with Butcher remaining involved in key corporate matters. Both Crooker and Pinard have been with the company for several years, enhancing confidence in their ability to lead STAG Industrial successfully.
STAG Industrial will release its Q4 and full year 2021 operating results on February 16, 2022, after market close. A conference call to discuss the results is scheduled for February 17, 2022, at 10:00 a.m. ET. Investors can join by calling (877) 407-4018 for US callers or (201) 689-8471 internationally. A webcast of the call will be available on STAG's Investor Relations website. As of September 30, 2021, STAG has a portfolio of 517 buildings across 40 states, totaling approximately 103.4 million rentable square feet.
STAG Industrial will participate in the Jefferies Real Estate Conference on December 16, 2021, and the Capital One Securities Annual REIT Conference on January 11, 2022. A business update presentation is available on their website under the "Presentations" tab in the Investor Relations section. As of September 30, 2021, STAG Industrial operates 517 buildings across 40 states, with approximately 103.4 million rentable square feet.
STAG Industrial announced a partnership with DonorsChoose to support teachers and students nationwide, aligning with its Charitable Action Fund. The collaboration involves selecting over 200 school projects, impacting over 22,000 students, particularly in lower-income communities, covering subjects like math, science, and arts. CEO Ben Butcher emphasized the Fund's mission to improve communities. STAG's portfolio includes 517 buildings across 40 states, totaling approximately 103.4 million rentable square feet as of September 30, 2021.
On Dec. 1, 2021, STAG Industrial announced the completion of the nation's largest rooftop community solar project at its Hampstead, MD facility. The system, with a capacity of 9.2 MW, is part of Maryland's community solar initiative and will generate over 15 million kWh annually, enough to power nearly 1,500 homes. Co-developed by Summit Ridge Energy and Black Bear Energy, this project contributes to STAG's total of over 25.5 MW of hosted solar capacity across the U.S. The initiative aims to provide low-cost renewable energy to local communities.
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