Stag Indl Inc Stock Price, News & Analysis

STAG Industrial, Inc. (NYSE:STAG) will participate in NAREIT's REITworld 2022 Annual Conference starting November 14, 2022. The company has prepared a business update presentation accessible on its website under the Investor Relations section. As of September 30, 2022, STAG owns 563 buildings across 41 states, encompassing around 111.6 million rentable square feet. This event will highlight the company's strategic direction and operational updates.

STAG Industrial (NYSE:STAG) reported strong financial results for Q3 2022, achieving a net income of $63.3 million ($0.35 per share), a 30.6% increase from Q3 2021. Core FFO rose 7.5% to $0.57 per diluted share. Cash NOI surged 18.6% to $131.8 million. The company acquired eight buildings for $127.3 million and sold four for $93.7 million, resulting in a net gain of $33.2 million. Occupancy rates remain high at 98.2%. Additionally, a refinancing increased liquidity by $300 million. The firm aims to leverage its defensive balance sheet for growth opportunities through 2023.

On October 13, 2022, STAG Industrial announced it received a GRESB Public Disclosure Level of 'A' for 2022, marking its first 'A' rating. This achievement positions STAG above the global average score of 'B' and the 'C' score of its 10 industrial real estate peers, ranking second among them. The upgrade leads to reduced interest rates on three unsecured term loans totaling $650 million and a $1 billion revolving credit facility, effective October 17, 2022, with a reduction of two basis points per loan. This success reflects STAG's commitment to sustainability in its industrial property operations.

On October 12, 2022, STAG Industrial announced that it will maintain its monthly common stock dividend at $0.121667. The declared dividends for the fourth quarter include: $0.121667 payable on November 15, 2022, for the October 31, 2022 record date; $0.121667 payable on December 15, 2022, for the November 30, 2022 record date; and $0.121667 payable on January 17, 2023, for the December 30, 2022 record date. As of June 30, 2022, STAG Industrial's portfolio comprises 559 buildings across 40 states, totaling approximately 111.5 million rentable square feet.

STAG Industrial reported no material damage to its assets from Hurricane Ian, emphasizing the safety of its properties in affected states like Florida and the Carolinas. CEO Bill Crooker noted that all buildings in Hurricane Ian's path could resume normal operations. As of June 30, 2022, the company had a 2.9% asset exposure in Florida and 12.7% in North and South Carolina, amounting to significant annualized base rent. STAG's portfolio includes 559 industrial buildings across 40 states, totaling approximately 111.5 million rentable square feet.

STAG Industrial, Inc. (NYSE:STAG) announced it will release its third quarter 2022 financial results after market close on October 27, 2022. A conference call to discuss these results will take place on October 28, 2022, at 10:00 a.m. ET. Investors can access the call toll-free at (877) 407-4018 or internationally at (201) 689-8471. A replay will be available shortly after the call. STAG Industrial focuses on industrial real estate with a portfolio of 559 buildings across 40 states, encompassing approximately 111.5 million rentable square feet as of June 30, 2022.

STAG Industrial has increased its senior unsecured revolving credit facility to $1 billion, up from $750 million, with no changes to pricing or maturity. The company also refinanced two term loans totaling $375 million, extending their maturity to January 25, 2028, with an aggregate fixed interest rate of 3.31%. As of June 30, 2022, STAG's portfolio includes 559 buildings across 40 states, covering approximately 111.5 million rentable square feet.

STAG Industrial reported its Q2 2022 results with a net income of $32.3 million, or $0.18 per share, down from $32.6 million in Q2 2021. Core Funds from Operations (Core FFO) increased 18% to $101.8 million, with a Core FFO per diluted share of $0.56, up 7.7% year-over-year. The company achieved an impressive occupancy rate of 98.1% and acquired nine buildings for $165.4 million. Cash Available for Distribution rose by 16.6% to $87.2 million. Following the quarter, STAG refinanced $375 million in loans, enhancing liquidity to $643 million.

On July 12, 2022, STAG Industrial announced the maintenance of its monthly common stock dividend at $0.121667. The company declared dividends for the third quarter of 2022, with payment dates set for August 15, September 15, and October 17, 2022.

Record dates for these dividends are July 29, August 31, and September 30, respectively. As of March 31, 2022, STAG Industrial's portfolio includes 551 industrial properties across 40 states, totaling approximately 110.1 million rentable square feet.