STAG Industrial(US:STAG) Prnewswireยท2025-10-29 20:06Core Insights - STAG Industrial, Inc. reported strong financial performance for Q3 2025, highlighting portfolio stability and market health, with expectations for continued growth and value creation [1][2]. Financial Performance - Net income attributable to common stockholders for Q3 2025 was $48.6 million, a 16.2% increase from $41.8 million in Q3 2024 [4][8]. - Basic and diluted net income per common share for Q3 2025 was $0.26, up 13.0% from $0.23 in Q3 2024 [4][8]. - Cash NOI for Q3 2025 reached $162.3 million, a 9.3% increase from $148.4 million in Q3 2024 [4][21]. - Same Store Cash NOI for Q3 2025 was $145.7 million, reflecting a 3.9% increase compared to $140.2 million in Q3 2024 [4][21]. - Adjusted EBITDAre for Q3 2025 was $152.5 million, a 9.9% increase from $138.7 million in Q3 2024 [4][21]. - Core FFO for Q3 2025 was $124.7 million, up 12.6% from $110.8 million in Q3 2024 [4][21]. Acquisition and Disposition Activity - In Q3 2025, the company acquired two buildings for $101.5 million, with a total square footage of 986,410 and an occupancy rate of 100% upon acquisition [6][8]. - The company also acquired a vacant land parcel for $2.9 million during the same period [6]. - Total acquisition activity for 2025 through October 28 included 1.6 million square feet across six buildings for $163.2 million [7]. Leasing Activity - The company commenced leases totaling 2.2 million square feet in Q3 2025, achieving a Cash Rent Change of 27.2% and a Straight-Line Rent Change of 40.6% [8][10]. - Retention rate for leases expiring in Q3 was 63.4% for 2.5 million square feet [8][10]. - Year-to-date leasing activity included 11.3 million square feet across 90 leases, with a weighted average lease term of 5.0 years [12]. Capital Markets Activity - The company refinanced a $300 million term loan, extending the maturity to March 15, 2030, with a fixed interest rate of 1.70% until February 2026, then 3.94% until maturity [14][15]. - As of September 30, 2025, the Net Debt to Annualized Run Rate Adjusted EBITDAre was 5.1x, with liquidity reported at $904.1 million [15].