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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.
On July 13, 2021, STAG Industrial announced it will maintain its monthly common stock dividend at $0.120833 per share for the third quarter of 2021. The announced dividends are scheduled for July 30, August 31, and September 30, 2021, with payments on August 16, September 15, and October 15, 2021, respectively. As of March 31, 2021, STAG Industrial's portfolio consisted of 494 buildings across 39 states, totaling approximately 99.1 million rentable square feet.
STAG Industrial (NYSE: STAG) has announced a note purchase agreement to issue $325 million in fixed rate senior unsecured notes. The issuance includes $275 million in 2.80% notes maturing on September 29, 2031, and $50 million in 2.95% notes maturing on September 28, 2033. The offering, expected to close on or around September 28, 2021, will not be registered under the Securities Act of 1933. As of March 31, 2021, STAG's portfolio consists of 494 buildings across 39 states, totaling approximately 99.1 million rentable square feet.
STAG Industrial announced that it will release its second quarter 2021 operating and financial results on July 27, 2021, after market close. A conference call to discuss these results will take place on July 28, 2021, at 10:00 a.m. ET. Interested parties can join the call via phone or listen to a webcast on the Company's investor relations website. As of March 31, 2021, STAG's portfolio included 494 industrial properties across 39 states, totaling approximately 99.1 million rentable square feet.
STAG Industrial reported its Q1 2021 financial results, marking a significant decrease in net income. The company's net income attributable to common stockholders was $20.9 million ($0.13 per share), down 66.3% from $62.1 million ($0.42 per share) in Q1 2020. However, Core FFO rose 13.1% to $79.8 million ($0.49 per share). Cash NOI reached $103.7 million, a 10.6% increase year-over-year. The occupancy rate remains high at 97.0%. STAG acquired six properties for $100.2 million and raised $22 million in gross equity through its ATM program. The company maintains a strong liquidity position with $533 million.
STAG Industrial has promoted William R. Crooker to the position of President, alongside his roles as Chief Financial Officer and Treasurer. This decision, praised by Chairman Ben Butcher, acknowledges Crooker's significant contributions since joining the company in 2011. As of March 31, 2021, STAG Industrial owns 494 properties across 39 states, encompassing approximately 99.1 million rentable square feet. The board is confident that Crooker's leadership will bolster the company's strategic initiatives.
STAG Industrial, Inc. (NYSE:STAG) will celebrate its 10th anniversary as a public company by ringing The Closing Bell at the New York Stock Exchange on April 20, 2021. CEO Ben Butcher expressed gratitude to employees, investors, and partners for their role in the company's growth within the industrial real estate sector. As of December 31, 2020, STAG Industrial's portfolio included 492 buildings across 39 states, totaling approximately 98.2 million rentable square feet. The bell ringing can be streamed live at 4:00 PM E.T.
STAG Industrial announced the maintenance of its monthly dividend at $0.120833 per share. The Company declared the second quarter dividends with record dates on April 30, May 28, and June 30, 2021, and corresponding payment dates on May 17, June 15, and July 15, 2021. STAG Industrial operates as a real estate investment trust focusing on single-tenant industrial properties across the US, with a portfolio of 492 buildings and approximately 98.2 million rentable square feet as of December 31, 2020.
STAG Industrial announced its first quarter 2021 operating and financial results will be released on May 4, 2021, after market close. The quarterly earnings conference call is scheduled for May 5, 2021, at 10:00 a.m. ET. Interested parties can join the call by dialing (877) 407-4018 for toll-free access or (201) 689-8471 for international callers. A replay will be available shortly after the call. As of December 31, 2020, STAG Industrial's portfolio includes 492 buildings across 39 states, covering approximately 98.2 million rentable square feet.
STAG Industrial, Inc. (NYSE:STAG) has announced the acquisition of three warehouse properties totaling $61 million. The properties include:
- Sacramento, CA: Acquired for $25.9 million, 267,284 sq. ft., 100% leased with a 4-year term.
- Minneapolis, MN: Acquired for $10.2 million, 80,655 sq. ft., 100% leased with a 9-year term.
- Omaha, NE: Acquired for $24.9 million, 370,000 sq. ft., 100% leased with a 4-year term.
This acquisition activity demonstrates STAG's continued focus on expanding its real estate portfolio across the U.S.
STAG Industrial announced the redemption of all 3,000,000 shares of its 6.875% Series C Cumulative Redeemable Preferred Stock, effective March 31, 2021, at a cash price of $25.00 per share, plus accrued dividends. The shares, held in book entry form via the Depository Trust Company, will cease to accrue dividends on the redemption date. This redemption is part of the company's financial strategy and has been communicated to holders of record. As of December 31, 2020, STAG Industrial manages a portfolio of 492 industrial properties across 39 states.
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