Stag Indl Inc Stock Price, News & Analysis

STAG Industrial reported financial results for Q1 2023, showcasing net income of $49.4 million, or $0.28 per share, down from $52.8 million and $0.30 per share in Q1 2022. Core FFO increased by 3.8% to $0.55 per diluted share. The company achieved a Cash NOI of $132.6 million, representing a 7.8% growth year-over-year. Occupancy rates remained strong at 97.6% across the portfolio. STAG sold two properties totaling 407,710 square feet for $37.2 million.

Despite challenges in capital markets, STAG expects continued demand driven by supply chain changes, projecting 30.6% cash rent change for new and renewal leases. The company has completed 78.2% of its anticipated leasing for 2023.

On April 11, 2023, STAG Industrial announced the maintenance of its monthly common stock dividend at $0.122500. The company declared the following second quarter dividends:

• April Record Date: April 28, Payment Date: May 15
• May Record Date: May 31, Payment Date: June 15
• June Record Date: June 30, Payment Date: July 17

STAG Industrial is focused on acquiring and operating industrial properties in the United States, with a portfolio of 562 buildings and approximately 111.7 million rentable square feet as of December 31, 2022. Investors should note the company's consistent dividend, reflecting confidence in its financial footing.

STAG Industrial, Inc. (NYSE:STAG) announced plans to release its first quarter 2023 operating and financial results after the market closes on April 26, 2023. A conference call will follow on April 27, 2023, at 10:00 a.m. Eastern Time. Investors can participate via phone by dialing (877) 407-4018 for U.S. callers or (201) 689-8471 for international. A replay will be available using the code 13737415. Additionally, a simultaneous webcast will be available on the company’s website. As of December 31, 2022, STAG owned 562 buildings across 41 states, comprising approximately 111.7 million rentable square feet.

STAG Industrial, Inc. (NYSE: STAG) announced the appointment of Steven T. Kimball as Executive Vice President—Real Estate Operations, effective this spring. He will focus on asset management and enhancing returns from existing properties. The company also reported that Ben Butcher will retire as Executive Chairman on June 30, 2023, while Larry T. Guillemette will become the independent Chairman. Kimball's appointment concludes a multi-year succession plan following recent management transitions. As of December 31, 2022, STAG's portfolio included 562 buildings across 41 states, totaling approximately 111.7 million rentable square feet.

STAG Industrial reported its Q4 and full-year 2022 results on February 15, 2023. The Company revealed a net income of $29.7 million or $0.17 per share for Q4 2022, down 65.5% from $86.2 million in Q4 2021. Core FFO grew by 7.8% to $0.55 per diluted share for Q4, with annual Core FFO at $2.21, a 7.3% increase. Cash NOI surged 13.7% year-over-year to $130.1 million in Q4. The Company maintained a high occupancy rate of 98.5% and achieved a Cash Available for Distribution of $86.1 million, up 16.1% from Q4 2021. STAG also acquired a building for $8.1 million during the quarter.

STAG Industrial has announced the tax treatment for its 2022 common stock dividends, totaling $1.459170 per share, which includes $1.172486 in ordinary taxable dividends and $0.121526 in capital gain distribution. The record date for the final dividend was December 31, 2022, and it was payable on January 17, 2023, with a dividend amount of $0.121667 per share. Shareholders are advised to consult tax advisors regarding individual tax implications. The company has no foreign taxes for 2022, ensuring a clear dividend structure for its investors.