STAG
STAG Industrial, Inc.37.17
-0.39-1.04%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Real demand boosts leasing upside
Q&A underscores real tenant demand—3PLs, food/bev, and new data center suppliers—feeling far more committed than last year's tire-kickers, with 3M sq ft already leased to such tenants. Management flags leasing upside if 2026 backfills beat prudent 9-12 month budgets, echoing 2025 zero-downtime successes amid 20M sq ft rolling. Acquisitions pipeline swells to $3.6B with Q1 pickup; concessions stable at half-month free rent. Midwest booms, SE ports soften. Demand feels real. Optimistic tone prevails; investors watch backfill speed into 2027 rent acceleration.
Key Stats
Market Cap
7.09BP/E (TTM)
28.59Basic EPS (TTM)
1.30Dividend Yield
0.04%Recent Filings
8-K
Adds Huntington to $750M ATM
STAG Industrial added Huntington Securities as a sales agent to its $750 million at-the-market equity offering program on February 12, 2026, matching terms of prior agreements with 14 other firms. This expands distribution channels for common stock sales and forward transactions under the existing S-3ASR registration. Broader agent roster boosts selling flexibility.
8-K
STAG Q4 earnings surge
STAG Industrial reported Q4 2025 net income of $83.4M, up 63.9% from prior year, with Core FFO per diluted share at $0.66, up 8.2%. Same Store Cash NOI grew 5.4% to $148.5M amid 16.3% cash rent bumps on 3.0M SF leased; acquired seven buildings for $285.9M at 6.4% cash cap rate, sold eight for $88.8M. Portfolio hit 96.4% occupancy. Leasing momentum builds.
10-K
FY2025 results
STAG Industrial capped FY2025 with 601 buildings totaling 120.0 million square feet at 96.4% leased, delivering total portfolio NOI up 9.9% to $673.4M amid moderating demand. Same-store NOI rose 4.7% on 4.8% revenue growth from 24.0% cash and 38.2% straight-line rent changes on 14.4M square feet leased, yet occupancy dipped to 97.5% while expenses climbed 5.2%. Acquisitions of 43 buildings added $54.1M NOI; 21 sales yielded $93.8M gain. Q4 momentum sustained via robust leasing, buffered by $750M liquidity and $3.3B debt at 4.21% fixed. Debt matures sparingly. Tenant defaults threaten leasing momentum.
8-K
Q3 earnings beat expectations
STAG Industrial posted Q3 net income of $0.26 per share, up 13% from $0.23, with Core FFO at $0.65 per diluted share, up 8.3%. Same Store Cash NOI climbed 3.9% to $145.7 million while occupancy hit 95.8%. Acquisitions totaled $101.5 million at 6.6% cash cap rate. Leasing surged 27.2% cash rent change. Debt extended smoothly.
10-Q
Q3 FY2025 results
STAG Industrial posted solid Q3 results, with rental revenue up 10.4% y/y to $210M and net income climbing 16.2% y/y to $49.6M ($0.26 diluted EPS), fueled by acquisitions and 4.6% same-store NOI growth. YTD revenue rose 9.9% y/y to $624M, net income surged 37.4% y/y to $194M ($1.02 diluted EPS, confirmed vs. 186.8M shares), and operating cash flow edged up 1.0% y/y to $359M. Acquired six properties for $171.7M (1.6M sq ft), sold three for $78.3M (net gain $57.8M), while total debt hit $3.1B at 4.22% (mostly fixed). Cash sits at $17.3M with $887M revolver availability. Tariffs threaten tenant demand.
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