STAG INDUSTRIAL REPORTS NO MATERIAL DAMAGE FROM HURRICANE IAN

Rhea-AI Summary

STAG Industrial reported no material damage to its assets from Hurricane Ian, emphasizing the safety of its properties in affected states like Florida and the Carolinas. CEO Bill Crooker noted that all buildings in Hurricane Ian's path could resume normal operations. As of June 30, 2022, the company had a 2.9% asset exposure in Florida and 12.7% in North and South Carolina, amounting to significant annualized base rent. STAG's portfolio includes 559 industrial buildings across 40 states, totaling approximately 111.5 million rentable square feet.

Positive

• No material damage reported from Hurricane Ian.
• All buildings can support normal tenant operations.
• Diversified asset exposure with only 2.9% in Florida and 12.7% in Carolinas.

Negative

• None.

BOSTON, Oct. 3, 2022 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE:STAG) today reported no material damage from Hurricane Ian to assets in the affected states, including Florida, Georgia, and the Carolinas.

"Our thoughts are with the many suffering from the aftermath of the hurricane," said Bill Crooker, President and Chief Executive Officer of the Company. "We are fortunate that none of our buildings were materially damaged by the storm and that all of our buildings in Ian's path are able to support normal tenant operations."

As of June 30, 2022, the Company's asset exposure in Florida was 2.9% of annualized base rent, and exposure in North and South Carolina was 12.7% of annualized base rent.

About STAG Industrial, Inc.

STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership, and operation of industrial properties throughout the United States. As of June 30, 2022, the Company's portfolio consists of 559 buildings in 40 states with approximately 111.5 million rentable square feet.

For additional information, please visit the Company's website at www.stagindustrial.com.

Forward-Looking Statements

This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "will," "expect," "intend," "anticipate," "estimate," "should," "project" or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the risk factors discussed in the Company's annual report on Form 10-K for the year ended December 31, 2021 as updated by the Company's quarterly reports on Form 10-Q. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Source: STAG Industrial, Inc.

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SOURCE STAG Industrial, Inc.

FAQ

What was the impact of Hurricane Ian on STAG Industrial's assets?

STAG Industrial reported no material damage to its assets from Hurricane Ian.

How much of STAG Industrial's rent exposure is in Florida?

As of June 30, 2022, STAG Industrial's asset exposure in Florida was 2.9% of annualized base rent.

What percentage of STAG Industrial's assets are located in the Carolinas?

The company had a 12.7% asset exposure in North and South Carolina as of June 30, 2022.

How many buildings does STAG Industrial own?

STAG Industrial's portfolio consists of 559 buildings across 40 states.

What is the total rentable square footage of STAG Industrial's properties?

STAG Industrial's properties total approximately 111.5 million rentable square feet.