Stag Indl Inc Stock Price, News & Analysis

STAG Industrial, Inc. (NYSE:STAG) announced a public offering of 8,000,000 shares of common stock, aiming for gross proceeds of approximately $340.0 million. The offering includes 5,250,000 shares directly from the Company and 2,750,000 under a forward sale agreement. The underwriters also have a 30-day option for an additional 1,200,000 shares. Proceeds will fund acquisitions, repay debt, and support general corporate needs. Closing is expected on November 8, 2021.

On November 3, 2021, STAG Industrial announced an underwritten public offering of 8,000,000 shares of common stock, including 5,250,000 shares offered directly and 2,750,000 shares via a forward sale agreement. The offering aims to raise funds for acquisitions, debt repayment, and working capital. The underwriters will have a 30-day option to purchase an additional 1,200,000 shares. The Company currently holds a portfolio of 517 buildings across 40 states, covering approximately 103.4 million rentable square feet.

STAG Industrial, NYSE: STAG, reported robust financial results for Q3 2021, highlighting a significant increase in net income and Core FFO. The net income rose to $48.4 million ($0.30/share), up from $22.4 million ($0.15/share) YoY. Core FFO reached $88.1 million ($0.53/share), showing a 24.6% increase. Cash NOI was $111.1 million, a 16.8% increase. The company acquired 24 buildings for $427.2 million, enhancing its portfolio while maintaining a high occupancy rate of 95.9%. Additionally, STAG raised $127.5 million of equity through its ATM program.

On October 28, 2021, STAG Industrial announced the successful sale of its 350,326 square foot building in Taunton, Massachusetts, generating gross proceeds of $78 million at a cash capitalization rate of 3.1%. The property, acquired vacant in February 2019, underwent significant value enhancement through an 18-month lease and a subsequent 10-year lease with a prestigious e-commerce tenant. CEO Ben Butcher highlighted this sale as a testament to the company's industrial real estate platform. As of September 30, 2021, STAG's portfolio comprises 517 buildings across 40 states with approximately 103.4 million rentable square feet.

STAG Industrial (NYSE:STAG) announced the refinancing of its $750 million senior unsecured revolving credit facility and a $150 million term loan maturing in 2022. The new revolving facility matures on October 24, 2025 and features improved pricing at LIBOR plus 0.775%. The term loan has also been refinanced with a new rate of LIBOR plus 0.85%, maturing on March 15, 2027, and features an interest rate swap fixing the rate at 2.15%. These changes extend debt maturities and reduce borrowing costs.

STAG Industrial, Inc. announced on October 18, 2021, that it achieved a GRESB Public Disclosure Level of 'B' for 2021, marking its second consecutive year at this rating. This score is notably above the average 'C' rating of all companies evaluated by GRESB, placing STAG second among ten industrial real estate firms. The GRESB ranking highlights the company's commitment to environmental, social, and governance (ESG) principles, which are expected to expand alongside its growing portfolio, currently consisting of 501 buildings across 39 states, totaling approximately 100.1 million rentable square feet.

On October 13, 2021, STAG Industrial declared its monthly dividend of $0.120833 per share, maintaining this amount for the fourth quarter. The record dates for the dividends are October 29, November 30, and December 31, 2021, with corresponding payment dates on November 15, December 15, and January 18, 2022, respectively. The company continues to focus on acquiring and operating single-tenant industrial properties across the U.S., with a portfolio of 501 buildings spanning approximately 100.1 million rentable square feet as of June 30, 2021.

STAG Industrial will announce its third quarter 2021 operating and financial results on October 28, 2021, after market close. The earnings conference call is scheduled for October 29, 2021, at 10:00 a.m. ET. Interested parties can participate by calling (877) 407-4018 or through a webcast on the Company’s website. As of June 30, 2021, STAG's portfolio included 501 buildings across 39 states, totaling approximately 100.1 million rentable square feet. For more details, visit www.stagindustrial.com.

STAG Industrial (NYSE:STAG) will participate in several key real estate conferences in September 2021. CEO Ben Butcher will join a virtual panel at the Evercore ISI Real Estate Conference on September 9 at 9:30 a.m. ET. The company has released a business update presentation accessible on its website. STAG Industrial focuses on acquiring and operating single-tenant industrial properties across the U.S., with a portfolio of 501 buildings totaling approximately 100.1 million rentable square feet as of June 30, 2021.