Overview

• STAG Industrial Q3 net income per share rises 13% yr/yr

• Core FFO per share for Q3 increases 8.3% yr/yr

• Company acquires two buildings for $101.5 mln in Q3

Outlook

• STAG Industrial expects continued growth driven by disciplined execution and leasing momentum

• Company highlights stable portfolio and healthy markets as key growth drivers

Result Drivers

• LEASING MOMENTUM - STAG Industrial reports strong leasing activity with 2.2 million square feet commenced, resulting in a 27.2% Cash Rent Change and 40.6% Straight-Line Rent Change

• ACQUISITIONS - Acquired two buildings totaling 1.0 million square feet for $101.5 mln, enhancing portfolio stability

• LOAN REFINANCING - Refinanced $300 mln term loan, extending maturity to 2030, enhancing financial flexibility

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy."

• Wall Street's median 12-month price target for STAG Industrial Inc is $38.00, about 0.3% below its October 28 closing price of $38.12

• The stock recently traded at 39 times the next 12-month earnings vs. a P/E of 33 three months ago

Press Release: ID:nPn59FPyKa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)