STAG INDUSTRIAL ANNOUNCES FIRST QUARTER 2025 RESULTS

Core Viewpoint - STAG Industrial, Inc. reported impressive operational success in the first quarter of 2025, establishing a foundation for sustainable growth with a strong balance sheet and market diversification [1][4]. Financial Performance - Net income attributable to common stockholders for Q1 2025 was $91.3 million, a 149.7% increase from $36.6 million in Q1 2024 [4][7]. - Basic and diluted net income per common share for Q1 2025 was $0.49, up 145.0% from $0.20 in Q1 2024 [4][7]. - Cash NOI for Q1 2025 was $157.2 million, an 8.1% increase from $145.5 million in Q1 2024 [4][7]. - Same Store Cash NOI for Q1 2025 was $144.6 million, a 3.4% increase from $139.9 million in Q1 2024 [4][7]. - Adjusted EBITDAre for Q1 2025 was $146.4 million, an 8.7% increase from $134.7 million in Q1 2024 [4][7]. - Core FFO for Q1 2025 was $115.2 million, a 5.7% increase from $109.0 million in Q1 2024 [4][7]. - Cash Available for Distribution for Q1 2025 was $106.5 million, an 8.5% increase from $98.1 million in Q1 2024 [4][7]. Acquisition and Disposition Activity - The company acquired three buildings for $43.3 million in Q1 2025, achieving a 100% occupancy rate upon acquisition [6][7]. - One building was sold for $67.0 million in Q1 2025, resulting in a net gain of $49.9 million [7][9]. Leasing Activity - The total portfolio occupancy rate was 95.9% as of March 31, 2025, with the operating portfolio at 96.8% [7]. - The company commenced operating portfolio leases totaling 5.0 million square feet in Q1 2025, with Cash Rent Change and Straight-Line Rent Change of 27.3% and 42.1%, respectively [7][11]. - Retention rate for leases expiring in the quarter was 85.3% [7]. Capital Markets Activity - The company paid off a $100 million fixed-rate senior unsecured note at maturity on February 20, 2025 [12]. - As of March 31, 2025, the Net Debt to Annualized Run Rate Adjusted EBITDAre was 5.2x, with liquidity of $493.1 million [12]. - On April 15, 2025, the company entered into a note purchase agreement to issue $550 million of fixed-rate senior unsecured notes with a weighted average interest rate of 5.65% [13].