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Stock impact report

Stag Industrial Q4 core FFO comes in slightly above consensus, slips sequentially [Seeking Alpha]

Stag Industrial, Inc. (STAG) 
Last stag industrial, inc. earnings: 4/30 04:01 pm Check Earnings Report
US:NYSE Investor Relations: stagindustrial.com
Company Research Source: Seeking Alpha
Q4 core FFO per share of $0.58, a hair above the $0.57 average analyst estimate, slipped from $0.59 in Q3 and rose from $0.55 in the year-ago quarter. Revenue of $183.3M, vs. $179.5M expected, advanced from $179.3M in the prior quarter and $170.0M a year before. Total expenses were $120.1M, up from $116.1M in Q3 and $118.2M in Q4 2022. Same-store cash NOI increased 6.8% Y/Y to $127.0M, accelerating from the 5.3% Y/Y pace in Q3. Occupancy rate of its total portfolio was 98.2% at Dec. 31, 2023 compared with 97.6% at Sept. 30, 2023. During the quarter, Stag's ( STAG ) commenced operating portfolio leases stood at 2.6M square feet, resulting in a cash rent change and straight-line rent change of 36.2% and 50.5%, respectively. As of Feb. 12, the company some 68.7% of expected 2024 new and renewal leasing had been addressed, consisting of 9.2M square feet, achieving cash rent change of 29.5%. Conference call on Feb. 14 at 10:00 a.m. ET. Earlier, Stag Industrial ( STAG ) FFO Show less Read more
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