earnings
confidence high
sentiment positive
materiality 0.70
STAG Industrial Q3 net income $0.26/shr, Core FFO $0.65 (+8.3% YoY), Same Store NOI +3.9%
STAG Industrial, Inc.
- Net income $48.6M ($0.26/diluted) vs $41.8M ($0.23) YoY; Core FFO $0.65/shr, up 8.3% YoY.
- Same Store Cash NOI $145.7M, +3.9% YoY; occupancy 95.8% total, 96.8% operating portfolio.
- Acquired two buildings (1.0M sq ft) for $101.5M at 6.6% cash cap rate; refinanced $300M term loan to 2030.
- Lease commencement 2.2M sq ft with Cash Rent Change 27.2% and Straight-Line 40.6%; retention 63.4%.
- Signed full building lease at SC development (243,642 sq ft) and subsequent lease at TN development (90,896 sq ft).