Stag Indl Inc Stock Price, News & Analysis

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.

On January 15, 2021, STAG Industrial announced the tax treatment for its 2020 dividends for both common and preferred stockholders. The total distribution per share for common stock amounted to $1.510837, with $1.186648 classified as ordinary taxable dividends. The preferred stockholders received a total of $1.718752 per share, with $1.349944 as ordinary taxable dividends. The December dividend paid on January 15, 2021, was partly attributed to 2020 and 2021 tax periods. Shareholders are advised to consult their tax advisors for personalized tax treatment.

STAG Industrial has announced an increase in its monthly common stock dividend to $0.120833, amounting to an annual dividend of $1.45. The first quarter 2021 dividends will be paid on three specific dates in February and March 2021: February 16 and March 15 for January and February dividends, respectively, and April 15 for March dividends. Additionally, the Company declared a preferred stock dividend of $0.4296875 for Series C, to be paid March 31, 2021. STAG Industrial operates a portfolio of 462 buildings in 38 states, totaling approximately 92.3 million rentable square feet.

STAG Industrial will publish its fourth quarter and full year 2020 financial results on February 10, 2021, after market close. The earnings conference call is set for February 11, 2021, at 10:00 a.m. ET. Interested listeners can join by dialing (877) 407-4018 or via a webcast on their investor relations website. As of September 30, 2020, STAG's portfolio comprises 462 buildings across 38 states, totaling approximately 92.3 million rentable square feet.

STAG Industrial has completed the sale of a one million square foot building in Burlington, New Jersey for $110.5 million, achieving a cash capitalization rate of 5.4%. This transaction is part of the Company's largest annual disposition, totaling $279.4 million from seven properties sold in 2020, previously acquired at an 8.2% capitalization rate. CEO Ben Butcher expressed confidence in utilizing the proceeds for further growth.

STAG Industrial, Inc. (NYSE:STAG) announced a score of 'B' from GRESB for its 2020 Public Disclosure assessment, marking an improvement for the second consecutive year. This score surpasses the average 'C' rating for all companies evaluated by GRESB, positioning STAG second among nine rated industrial companies. The company, focused on acquiring and operating single-tenant industrial properties, manages a portfolio of 462 buildings across 38 states, totaling approximately 92.3 million rentable square feet.

On December 10, 2020, STAG Industrial announced grants from its Charitable Action Fund to six organizations, including Heading Home and the New Commonwealth Racial Equity and Social Justice Fund. These contributions are part of multi-year commitments aimed at enhancing community welfare and opportunity. CEO Ben Butcher emphasized the Fund's role in promoting health and equality. As of September 30, 2020, STAG's portfolio comprises 462 industrial properties across 38 states, totaling approximately 92.3 million rentable square feet.