STAG Industrial Q2 2024: Core FFO $0.61 (+8.9%), Cash NOI +10.3%, occupancy 97.1%

STAG Industrial, Inc.

Net income attributable to common stockholders $59.7M ($0.33/sh) vs $51.6M ($0.29/sh) YoY.
Core FFO per diluted share $0.61, up 8.9% from $0.56; Cash NOI $148.4M, +10.3% from $134.6M.
Acquired 10 buildings (2.2M sq ft) for $225.6M at a 6.7% cash capitalization rate.
Occupancy rate 97.1% on total portfolio; 94.7% of expected 2024 leasing addressed with 28.9% cash rent change.
Moody's upgraded outlook from Stable to Positive; Baa3 rating affirmed on June 26, 2024.

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