STAG Industrial Q1 net income $0.30/share; Core FFO $0.53 (+8.2% YoY); CEO succession set for July

STAG Industrial, Inc.

Net income per share $0.30 vs $0.13 YoY; Core FFO per diluted share $0.53 (+8.2% YoY).
Cash NOI $122.9M (+18.6%); Same Store Cash NOI $103.6M (+4.8%).
Acquired 8 buildings for $166.4M at 5.0% cash cap rate; sold one for $36.1M, gain $24.0M.
Occupancy 96.9%; commenced 3.1M sq ft leases with cash rent change +15.2%.
CEO Ben Butcher to become Executive Chair July 1; President Bill Crooker to succeed as CEO.

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