STAG INDUSTRIAL ANNOUNCES SECOND QUARTER 2025 RESULTS

Core Insights - STAG Industrial, Inc. reported strong financial performance for the second quarter of 2025, with a net income of $49.963 million, a decrease of 16.4% compared to $59.737 million in the same quarter of 2024 [3][7] - The company achieved a Cash NOI of $161.688 million, reflecting an increase of 8.9% from $148.432 million year-over-year [3][7] - Core FFO per share increased by 3.3% to $0.63 from $0.61 in the second quarter of 2024 [3][7] Financial Performance - Net income attributable to common stockholders for Q2 2025 was $49.963 million, down from $59.737 million in Q2 2024, marking a 16.4% decline [3][7] - Basic and diluted net income per share decreased to $0.27 from $0.33, an 18.2% drop [3][7] - Total revenue for Q2 2025 was $207.593 million, up from $189.777 million in Q2 2024, representing a growth of 9.6% [19] Operational Highlights - The company acquired one building in Chicago for $18.4 million, achieving a 100% occupancy rate upon acquisition [5][7] - The total portfolio occupancy rate stood at 96.3% as of June 30, 2025, with the operating portfolio at 97.0% [7] - The company commenced leases totaling 4.2 million square feet in Q2 2025, with a Cash Rent Change of 24.6% [9][11] Acquisition and Disposition Activity - In the first half of 2025, STAG Industrial acquired a total of 576,764 square feet across four buildings for $61.684 million [6][8] - The company sold one building in Q2 2025 for $9.1 million, contributing to a total disposition of 488,591 square feet for $76.1 million in the first half of the year [8][9] Capital Markets Activity - Moody's upgraded the company's corporate credit rating to Baa2 with a stable outlook on May 8, 2025 [12][13] - The company issued $550 million in fixed-rate senior unsecured notes with a weighted average interest rate of 5.65% [13][14] Cash Flow and Distribution - Cash Available for Distribution for Q2 2025 was $98.829 million, a 3.9% increase from $95.119 million in Q2 2024 [3][28] - The company reported a Cash NOI of $161.688 million for the quarter, up 8.9% from the previous year [3][7]