STAG Industrial Q4 Core FFO rises 4.1% to $0.51; CEO transition announced

STAG Industrial, Inc.

Net income $86.2M ($0.50/sh) vs $94.6M ($0.63/sh) in Q4 2020; Core FFO $0.51 (+4.1% YoY).
Full year 2021 Core FFO $2.06 per diluted share, up 9.0% from $1.89 in 2020.
Acquired 35 buildings for $689.5M at 5.0% cash cap rate in Q4; occupancy 96.9% as of Dec 31.
CEO Ben Butcher to become Executive Chair; President William R. Crooker expected to succeed as CEO; Matts S. Pinard promoted to CFO (effective Jan 10, 2022).
Raised $386.3M net equity via follow-on offering in Q4 2021; Cash NOI $114.5M (+14.0% YoY).

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