Stag Industrial Inc (NYSE:STAG)
$ 37.38 0.2 (0.54%) Market Cap: 6.81 Bil Enterprise Value: 9.70 Bil PE Ratio: 37.76 PB Ratio: 2.07 GF Score: 85/100
Back to the Transcripts List

Q2 2024 STAG Industrial Inc Earnings Call Transcript

Jul 31, 2024 / 02:00PM GMT
Release Date Price: $40.81 (+0.05%)

Key Points

Positve
  • Core FFO per share increased by 8.9% compared to last year, reaching $0.61 for the quarter.
  • Acquisition volume for the second quarter totaled $225.6 million, consisting of 10 buildings with favorable cap rates.
  • Same-store cash NOI growth was 6.1% for the quarter and 6.5% year-to-date.
  • Retention rate was strong at 79.9% for the quarter.
  • The company has a low leverage with net debt to annualized run rate adjusted EBITDA between 4x to 5x.
Negative
  • Demand remains subdued in many markets, although it is improving.
  • Deal volume in Q2 remained consistent with Q1 but is still well below the levels seen over the past few years.
  • The company sold seven buildings for aggregate proceeds of $78.2 million, with some sales being modestly dilutive to core FFO.
  • The acquisition of a vacant building in El Paso will have a drag on earnings this year due to expected downtime.
  • Credit loss guidance remains at 50 basis points for the year, with $1 million of credit loss already incurred year-to-date.
Operator

Greetings. Welcome to the STAG Industrial, Inc., second-quarter 2024 earnings conference call. (Operator Instructions). Please note, this conference is being recorded.

Iâll now turn conference over to your host, Steve Xiarhos. you may begin.

Steve Xiarhos
STAG Industrial Inc - Associate Capital Markets & Investor Relations

Thank you. Welcome to STAG Industrial's conference call covering the second-quarter 2024 results. In addition to the press release distributed yesterday, we have posted an unaudited quarterly supplemental information presentation on the company's website at www.stagindustrial.com, under the Investor Relations section. On today's call, the company's prepared remarks and answers to your questions will contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address matters that are subject to risks and uncertainties that may cause actual results to differ from those discussed today.

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2024 GuruFocus.com, LLC. All Rights Reserved.