STAG Industrial Q4 Core FFO $0.55 (+7.8% YoY); Cash NOI $130.1M (+13.7%)
STAG Industrial, Inc.
- Net income $29.7M ($0.17/diluted share) vs $86.2M ($0.50) in Q4 2021; drop due to lower gains.
- Core FFO per diluted share $0.55, up 7.8% YoY; FY 2022 Core FFO $2.21 (+7.3% vs 2021).
- Same Store Cash NOI $104.7M, up 4.5% YoY; Cash Available for Distribution $86.1M, +16.1%.
- Portfolio occupancy 98.5% (operating 99.0%); cash rent change on new leases +14.2%.
- Subsequent to quarter: paid off $100M fixed-rate senior unsecured note on Jan 5, 2023.