Stag Indl Inc Stock Price, News & Analysis

STAG Industrial has promoted William R. Crooker to the position of President, alongside his roles as Chief Financial Officer and Treasurer. This decision, praised by Chairman Ben Butcher, acknowledges Crooker's significant contributions since joining the company in 2011. As of March 31, 2021, STAG Industrial owns 494 properties across 39 states, encompassing approximately 99.1 million rentable square feet. The board is confident that Crooker's leadership will bolster the company's strategic initiatives.

STAG Industrial, Inc. (NYSE:STAG) will celebrate its 10th anniversary as a public company by ringing The Closing Bell at the New York Stock Exchange on April 20, 2021. CEO Ben Butcher expressed gratitude to employees, investors, and partners for their role in the company's growth within the industrial real estate sector. As of December 31, 2020, STAG Industrial's portfolio included 492 buildings across 39 states, totaling approximately 98.2 million rentable square feet. The bell ringing can be streamed live at 4:00 PM E.T.

STAG Industrial announced the maintenance of its monthly dividend at $0.120833 per share. The Company declared the second quarter dividends with record dates on April 30, May 28, and June 30, 2021, and corresponding payment dates on May 17, June 15, and July 15, 2021. STAG Industrial operates as a real estate investment trust focusing on single-tenant industrial properties across the US, with a portfolio of 492 buildings and approximately 98.2 million rentable square feet as of December 31, 2020.

STAG Industrial announced its first quarter 2021 operating and financial results will be released on May 4, 2021, after market close. The quarterly earnings conference call is scheduled for May 5, 2021, at 10:00 a.m. ET. Interested parties can join the call by dialing (877) 407-4018 for toll-free access or (201) 689-8471 for international callers. A replay will be available shortly after the call. As of December 31, 2020, STAG Industrial's portfolio includes 492 buildings across 39 states, covering approximately 98.2 million rentable square feet.

STAG Industrial, Inc. (NYSE:STAG) has announced the acquisition of three warehouse properties totaling $61 million. The properties include:

• Sacramento, CA: Acquired for $25.9 million, 267,284 sq. ft., 100% leased with a 4-year term.
• Minneapolis, MN: Acquired for $10.2 million, 80,655 sq. ft., 100% leased with a 9-year term.
• Omaha, NE: Acquired for $24.9 million, 370,000 sq. ft., 100% leased with a 4-year term.

This acquisition activity demonstrates STAG's continued focus on expanding its real estate portfolio across the U.S.

STAG Industrial announced the redemption of all 3,000,000 shares of its 6.875% Series C Cumulative Redeemable Preferred Stock, effective March 31, 2021, at a cash price of $25.00 per share, plus accrued dividends. The shares, held in book entry form via the Depository Trust Company, will cease to accrue dividends on the redemption date. This redemption is part of the company's financial strategy and has been communicated to holders of record. As of December 31, 2020, STAG Industrial manages a portfolio of 492 industrial properties across 39 states.

STAG Industrial announced its Q4 and full-year 2020 financial results, showing significant growth. The company reported a net income of $94.6 million, translating to $0.63 per share, a sharp increase from $16.1 million and $0.12 per share in Q4 2019. Core FFO rose 15.4% to $75.5 million, with a Core FFO per diluted share of $0.49, up by 4.3%. Cash NOI increased 12.9% to $100.4 million for the quarter. The occupancy rate was strong at 96.9%. STAG acquired 32 buildings for $579.9 million during the quarter, further enhancing its portfolio.

STAG Industrial announced an increase in its unsecured credit facility capacity to $750 million from $500 million without altering pricing and terms. The refinancing of $300 million of term loan G, maturing on February 5, 2026, has resulted in a 50 basis point reduction in interest spread to 1.00%. This move enhances liquidity and extends debt maturities, as stated by CFO Bill Crooker.

STAG Industrial has been recognized by the Boston Business Journal as one of Massachusetts' Middle Market Leaders for the second consecutive year. This ranking highlights the 50 highest growth companies in the state, compiled based on annual revenue between $25 million and $1 billion for the years 2017 to 2019. STAG's portfolio includes 462 industrial properties across 38 states, encompassing approximately 92.3 million rentable square feet as of September 30, 2020.