Welcome to our dedicated page for Stag Indl news (Ticker: STAG), a resource for investors and traders seeking the latest updates and insights on Stag Indl stock.
STAG Industrial, Inc. (NYSE: STAG) is a real estate investment trust focused on industrial properties, particularly single-tenant warehouse and distribution buildings across the United States. The news flow around STAG Industrial centers on its operating performance, portfolio activity, dividend policy, and capital markets transactions, giving investors a detailed view of how the company manages and grows its industrial real estate platform.
Visitors to this news page can review company-issued press releases and related updates. Recent announcements have covered quarterly and year-to-date financial and operating results, including metrics such as net income, Cash NOI, Same Store Cash NOI, Adjusted EBITDAre, Core FFO, occupancy rates, and leasing volumes. STAG Industrial also reports on acquisition and disposition activity, development projects, and leasing milestones, such as full building leases and new agreements across millions of square feet.
Dividend declarations are another recurring theme in STAG Industrial’s news. The company has announced monthly common stock dividends, detailed record and payment dates, and, more recently, an increase in its annual dividend rate and a shift from monthly to quarterly dividend payments. These updates provide context on the company’s cash distribution practices as a REIT.
In addition, STAG Industrial issues notices about upcoming earnings releases, quarterly conference calls, participation in industry conferences such as NAREIT’s REITworld, and changes to its capital structure, including unsecured term loan amendments and senior unsecured note issuances. Investors and analysts can use this page to follow these developments over time and monitor how STAG Industrial communicates its financial condition, portfolio strategy, and capital decisions.
STAG Industrial (NYSE:STAG) reported a boost in acquisition activity during Q4 2020, securing 13 buildings totaling 4 million square feet for $297.9 million. The company expects to close an additional $307.5 million in acquisitions, bringing the 2020 total to $801.3 million. A major sale of a one million square foot building in Burlington, NJ, is also anticipated to yield over $100 million. Furthermore, Same Store Cash NOI is projected to increase to 1.25%-1.75%, up from a previous estimate of 0.75%-1.25%.
STAG Industrial (NYSE:STAG) announced that Jeffrey M. Sullivan, the Executive Vice President and General Counsel, was honored as a recipient of the 2020 Modern Governance 100. This recognition highlights his commitment to enhancing diversity, sustainability, and strong corporate governance amid challenges like the COVID-19 pandemic. As of September 30, 2020, STAG Industrial's portfolio includes 462 properties across 38 states, totaling approximately 92.3 million rentable square feet. STAG continues to focus on acquiring and managing single-tenant industrial properties.
STAG Industrial (NYSE:STAG) has commenced its first onsite solar installations in Maryland, co-developed with Summit Ridge Energy. This initiative includes three projects, totaling 11.6 MW capacity, expected to generate over 15 million kWh annually, enough to power nearly 1,500 homes. The prominent installation at STAG's Hampstead facility will become the largest rooftop community solar project in the U.S. With this development, STAG now oversees over 25.5 MW of solar nationwide, reinforcing its commitment to renewable energy and environmental stewardship.
STAG Industrial has priced a public offering of 8,000,000 shares of its common stock, expecting gross proceeds of approximately $243.2 million. The offering is set to close on November 19, 2020. Additionally, underwriters have a 30-day option to purchase up to an extra 1,200,000 shares. Proceeds will be used for acquisitions, debt repayment, and general corporate purposes. STAG Industrial has entered a forward sale agreement to facilitate this offering, which may include an additional 1,200,000 shares, subject to market conditions.
On November 16, 2020, STAG Industrial announced a public offering of 8,000,000 shares of its common stock, with a 30-day option for underwriters to acquire an additional 1,200,000 shares. The proceeds are intended for acquisitions and to repay existing debt under its credit facility. Citigroup, Jefferies, and Raymond James will manage the offering. A forward sale agreement will be executed, leading to a potential total offering of 9,200,000 shares by November 16, 2021, depending on underwriter options.
STAG Industrial has commenced its first solar installation in Illinois and fifth in Massachusetts, contributing to community solar programs. Developed in partnership with Black Bear Energy and Green Street Power Partners, the projects will provide low-cost renewable energy with a total capacity of 3.5 MW, generating over 4.4 million kWh annually—enough to power 361 homes. With these additions, STAG’s solar capacity now totals over 13.5 MW nationwide. The systems are expected to begin operations in Q4 2020.
STAG Industrial announced the creation of the STAG Industrial Charitable Action Fund in collaboration with the Boston Foundation. This Fund aims to enhance the Company's community impact through social responsibility efforts targeting equality and youth empowerment. Ben Butcher, CEO, emphasized that it will serve as the primary avenue for monetary donations and support ongoing volunteerism. The Fund, overseen by the Company's executive team and a diverse Charitable Action Committee, responds to the challenges posed by COVID-19 and social injustices.
On November 9, 2020, STAG Industrial (NYSE:STAG) announced its commitment to the 'Get The Test Boston' pledge, supporting COVID-19 testing awareness among its employees. CEO Ben Butcher expressed the company's dedication to maintaining employee health and contributing to the economic vibrancy of Boston. As of September 30, 2020, STAG Industrial's portfolio consists of 462 properties across 38 states, encompassing approximately 92.3 million rentable square feet. This initiative reflects the company's ongoing efforts to prioritize employee well-being amid the pandemic.
STAG Industrial reported strong financial results for Q3 2020, with a net income of $22.4 million ($0.15 per share), a significant increase from $9.5 million in Q3 2019. Core FFO rose 16.7% to $70.7 million, maintaining a Core FFO per diluted share of $0.46. Cash NOI grew by 15.4% to $95.2 million. STAG acquired five buildings for $64.7 million at a 6.3% cash capitalization rate and sold one property for $20 million, resulting in a $9.1 million gain. The company reported an occupancy rate of 96.3% and collected 98.2% of Q3 rental billings, indicating robust operational performance.
On October 9, 2020, STAG Industrial declared a monthly common stock dividend of $0.120000 for Q4 2020, with record dates on October 30, November 30, and December 31, and payment dates on November 16, December 15, and January 15, 2021. The Board also declared preferred stock dividends of $0.4296875 for the Series C - 6.875% Cumulative Redeemable Preferred Stock. As of June 30, 2020, STAG's portfolio included 457 properties across 38 states, covering approximately 91.8 million rentable square feet.