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 announced that it will release its third quarter 2020 operational and financial results after the market closes on November 5, 2020. A conference call to discuss these results is set for November 6, 2020, at 10:00 a.m. Eastern Time. Investors can access the call by dialing (877) 407-4018 in the U.S. or (201) 689-8471 internationally. Additionally, a replay will be available following the call using the passcode 13711004. STAG Industrial, a leader in the acquisition and operation of industrial properties, boasts a portfolio of 457 buildings across 38 states.
On August 17, 2020, STAG Industrial announced a 64-month early lease renewal with a major American automaker for its 1.1 million square foot warehouse in Memphis, TN. This extends the lease to November 2029, increasing the remaining lease term to over nine years. The agreement involves minimal transaction costs and incorporates a 2% annual rent escalation. STAG acquired the property in 2019, and CEO Ben Butcher emphasized the transaction's reflection of the company's operational strength.
STAG Industrial (NYSE:STAG) has signed a significant 1 million square foot lease with a leading book publisher at its Hampstead, MD facility, effective August 1, 2020. The lease spans five and a half years, featuring five months of free rent, minimal tenant improvements, and annual rent increases of 3%. This strategic leasing agreement highlights the strength of STAG's portfolio and operational capabilities, demonstrating their ability to outperform expectations.
STAG Industrial reported its Q2 2020 financial results, showing a net income of $17.6 million or $0.12 per share, up from $12.4 million or $0.10 per share in Q2 2019. Core FFO increased 23.5% to $71.8 million, with Core FFO per share at $0.47. Cash NOI rose 24.5% to $96.6 million. The company acquired two buildings for $11.9 million and sold one for $2.4 million. Occupancy rates stood at 97.0%, with 98.0% of rental billings collected from Q2.
STAG Industrial declared its monthly common stock dividend at $0.120000 for July, August, and September 2020. The record dates for these dividends are July 31, August 31, and September 30, respectively, with payment dates on August 17, September 15, and October 15, 2020. Additionally, the board announced a preferred stock dividend of $0.4296875 for Series C, payable on September 30, 2020, to shareholders of record on September 15, 2020. As of March 31, 2020, the company manages 456 industrial properties across 38 states, totaling approximately 91.8 million square feet of rentable space.
STAG Industrial announced that it will release its second quarter 2020 operating and financial results after market close on July 28, 2020. A conference call will be held on July 29, 2020, at 10:00 a.m. Eastern Time, where interested parties can dial in or access via webcast on the Company's website. As of March 31, 2020, STAG Industrial's portfolio comprises 456 buildings across 38 states, amounting to approximately 91.8 million rentable square feet.
STAG Industrial (NYSE:STAG) has commenced construction on five new solar rooftop systems in Massachusetts and New Jersey, totaling an aggregate capacity of 8.5 MW. These projects are expected to generate over 10 million kWh of electricity annually, equating to powering nearly 1,000 homes. The Massachusetts projects align with the state's SMART Program, promoting the development of distributed solar resources. By expanding its solar portfolio to over 10 MW nationally, STAG demonstrates its commitment to sustainability and community resources.