STAG Industrial (STAG) Q1 2025 Earnings Call April 30, 2025 10:00 AM ET Company Participants Steve Xiarhos - Vice President - Capital Markets & Investor RelationsWilliam Crooker - CEO, President & DirectorMatts Pinard - Executive VP, CFO & TreasurerJonathan Hughes - Managing Director Vince Tibone - Managing Director and Head of US Industrial & Mall ResearchMichael Chase - Executive VP & Chief Investment OfficerMichael Carroll - Managing Director & Head of US Real Estate ResearchEric Borden - Vice PresidentR ...

Financial Data and Key Metrics Changes - Cash basis NOI grew by nearly 2% year over year, while normalized FFO increased 43% year over year and 52% sequentially [7][16] - As of March 31, 2025, NOI was $87,500,000, cash basis NOI was $83,800,000, and adjusted EBITDAre was $85,300,000, all showing increases year over year and sequentially [17] - Interest expense decreased to $69,800,000, reflecting a reduction in interest rate cap costs [17] Business Line Data and Key Metrics Changes - The company executed over 2,300,000 square feet of total leasing activity with an occupancy rate of 94.6%, reflecting a sequential increase of 20 basis points [7] - The top 10 tenants account for 47% of annualized rental revenues, with over 76% coming from investment-grade rated tenants or secure Hawaii land leases [8] - In Hawaii, 492,000 square feet of renewals were signed at rental rates 18.2% higher than prior rents [9] Market Data and Key Metrics Changes - The Mainland properties accounted for nearly 80% of renewal activity, with significant leases signed with major companies [12] - The company is tracking 32 deals in its pipeline for over 7,400,000 square feet, anticipating a near-term conversion of 500,000 square feet [14] Company Strategy and Development Direction - The company aims to maximize mark-to-market growth opportunities, maintain strong tenant retention, and lease vacancies, particularly in Hawaii and Indianapolis [10] - There is a focus on evaluating opportunities to improve the balance sheet and reduce leverage, potentially through refinancing existing debt and strategic property dispositions [10][30] Management's Comments on Operating Environment and Future Outlook - Management is monitoring the evolving landscape surrounding global tariffs, believing the portfolio is well-positioned to withstand short-term volatility [10] - The company anticipates that tariffs may positively impact tenant demand, leading to higher tenant retention in the short term [38][39] - Management expressed confidence in the long-term value of the Hawaii land despite current leasing challenges [31] Other Important Information - The company reported a one-time benefit of $0.01 per share related to a required remediation payment for a scheduled lease termination in the second quarter [20] - The company has no debt maturities until 2027, with all debt currently carried at fixed rates [17] Q&A Session Summary Question: Details on bad debt recovery impact - The financial impact from bad debt recovery was around $750,000 in revenues [22] Question: Insights on leasing timelines - Leasing timelines are elongated, with tenants starting renewal processes earlier due to more people involved in decision-making [24][25] Question: Status of notable vacancies in Indianapolis and Hawaii - Activity has been seen in Hawaii with proposals out, while negotiations in Indianapolis did not materialize, and the property is actively being marketed [26][28] Question: Motivation for leverage reduction and property sales - The company is seeing unsolicited offers from owner-users, which are usually at higher valuations, prompting consideration for property sales [30] Question: Impact of tariffs on tenant decisions - Tariffs are anticipated to be beneficial for tenant demand, with some tenants opting to stay in place rather than relocate due to concerns over construction costs [38][39] Question: Exposure of Hawaii portfolio to inbound travel - The portfolio's exposure to inbound travel is minimal, as tenants generally serve the local economy rather than relying on tourism [40]

STAG Industrial (STAG) Q1 2025 Earnings Call April 30, 2025 10:00 AM ET Speaker0 Greetings, and welcome to STAG Industrial Inc. First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press 0 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce ...

SUPPLEMENTAL INFORMATION UNAUDITED FIRST QUARTER 2025 Forward-Looking Statements This supplemental information package contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. STAG Industrial, Inc. (STAG) intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of ...

Core Insights - FIBRA Prologis reported a decline in net earnings per CBFI for Q1 2025, with earnings at Ps. 2.0195 (US$0.0985) compared to Ps. 6.1383 (US$0.3505) in Q1 2024, indicating a significant drop in profitability [2] - The company demonstrated resilience amid global trade uncertainties, supported by operational discipline and a strong balance sheet [3] Financial Performance - Funds from operations (FFO) per CBFI increased to Ps. 1.2384 (US$0.0609) in Q1 2025 from Ps. 0.8416 (US$0.0492) in Q1 2024, reflecting improved operational efficiency [2] - As of March 31, 2025, FIBRA Prologis had a leverage ratio of 22.9% and liquidity of approximately Ps. 11.2 billion (US$546 million), which included Ps. 9.5 billion (US$465 million) in available capacity on its unsecured credit facility [5] Operating Metrics - The period-end occupancy rate was 98.8% and average occupancy was 98.1%, both showing slight declines from the previous year [4] - Customer retention improved significantly to 93.6% from 75.4% in the same period last year [4] - The net effective rent change was recorded at 65.2%, up from 47.7% in Q1 2024, driven by strong performance in Monterrey, Tijuana, and Mexico City [4][7] Portfolio Overview - FIBRA Prologis' portfolio as of March 31, 2025, included 507 investment properties totaling 87.0 million square feet (8.1 million square meters), with 345 logistics and manufacturing facilities across six core industrial markets in Mexico [9]

EastGroup Properties (EGP) Q1 2025 Earnings Call April 25, 2025 02:15 AM ET Company Participants Marshall Loeb - President & CEONone - ExecutiveBrent Wood - Executive VP, CFO & TreasurerSamir Khanal - DirectorAlexander Goldfarb - Managing DirectorJohn Kim - Managing Director - US Real EstateVikram Malhotra - Managing DirectorRonald Kamdem - Managing Director & Head of US REITs and CRE ResearchOmotayo Okusanya - Managing DirectorRichard Anderson - Managing Director - Equity ResearchMichael Carroll - Managing ...

EastGroup Properties, Inc. (NYSE:EGP) Q1 2025 Earnings Conference Call April 24, 2025 11:00 AM ET Company Participants Marshall Loeb - President and CEO Brent Wood - CFO Conference Call Participants Blaine Heck - Wells Fargo Samir Khanal - Bank of America Craig Mailman - Citi Alexander Goldfarb - Piper Sandler John Kim - BMO Capital Markets Vikram Malhotra - Mizuho Securities Ronald Kamdem - Morgan Stanley Todd Thomas - KeyBanc Capital Markets Omotayo Okusanya - Deutsche Bank Mick Mueller - JPMorgan Rich An ...

First Industrial Realty Trust, Inc. (FR) Q1 2025 Earnings Conference Call April 17, 2025 11:00 AM ET Company Participants Conference Operator - ModeratorArt Harmon - Senior Vice President, Investor Relations and MarketingPeter Basile - President and Chief Executive OfficerScott Musil - Chief Financial OfficerJojo Yap - Chief Investment OfficerPeter Schultz - Executive Vice PresidentChris Schneider - Executive Vice President of Operations Conference Call Participants Heebin Kim - Analyst, TruistCraig Mailman ...

Financial Data and Key Metrics Changes - For Q1 2025, funds from operations (FFO) were reported at $0.68 per fully diluted share, an increase from $0.60 per share in Q1 2024, indicating a positive trend in financial performance [22] - Cash same-store rental growth for the quarter, excluding termination fees, was 10.1%, driven by increases in rental rates and higher average occupancy [22][23] - In-service occupancy at the end of the quarter was 95.3%, a decrease of 90 basis points from year-end and 20 basis points from the year-ago quarter [22][23] Business Line Data and Key Metrics Changes - The company achieved a cash rental rate increase of 30% for new and renewal leasing, with a projected growth of 30% to 40% for the full year [15][29] - Development leasing included a successful expansion of a tenant in Denver, bringing a 200,000 square foot building to 100% occupancy [16] - The company plans to break ground on a 176,000 square foot facility in Dallas, targeting a cash yield of approximately 8% [17] Market Data and Key Metrics Changes - Nationally, vacancy in Tier 1 U.S. markets was reported at 5.9%, unchanged since year-end [12] - Net absorption was 56 million square feet, with 24 million square feet in target markets, while new construction starts were 75% lower than the peak in Q3 2022 [13] - In the Inland Empire, vacancy rates decreased by 30 basis points, with net absorption of 3 million square feet, indicating a positive trend in that market [65] Company Strategy and Development Direction - The company is focused on executing objectives to drive long-term cash flow growth while monitoring the impact of tariffs on tenant demand [30] - Future developments will target areas with unmet demand, particularly in Texas, Florida, and Pennsylvania [50] - The company remains opportunistic regarding new investments, emphasizing risk-adjusted returns in targeted sub-markets [50][134] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the evolving landscape surrounding tariffs and their potential impact on business activity and leasing markets [10][11] - The tone remains positive, with good momentum and increased foot traffic, although decision-making has slowed due to uncertainty around tariffs [75][90] - Management anticipates that the majority of tenant demand will continue, despite some conversations being paused [88][90] Other Important Information - The company renewed its senior unsecured revolving credit facility by $100 million, extending the maturity date to March 2030 [24] - The company acquired two fully leased developments in Phoenix for $120 million, with a cash yield of 6.4% [20] - The company expects to capitalize about $0.09 per share of interest for the full year of 2025 [29] Q&A Session Summary Question: Impact of tariffs on tenancy perspective - Management indicated that exposure to Chinese 3PLs is minimal, with only 450,000 square feet leased to them, and no significant concerns from auto tenants [35][37] Question: Development leasing visibility - Management confirmed that the majority of development leasing is expected in Q4, with good activity in the market despite some tenant concerns regarding tariffs [41][46] Question: G&A expenses related to stock-based compensation - Management acknowledged an increase in G&A due to accelerated stock-based compensation but did not provide a specific dollar amount during the call [55] Question: Current tenant activity and leasing velocity - Management noted that while some tenants have paused, the overall interest and demand remain strong, with no specific concentration of paused activity in certain industries [88][92] Question: Development yields and construction costs - Management stated that they can achieve yields over 7% on new developments, despite rising construction costs, by focusing on areas with strong demand [112][114] Question: Amazon's expansion plans and RFPs - Management observed that Amazon is focused on expanding same-day delivery capabilities and is active in several markets, indicating a shift in their approach to warehousing [161][162]

MEXICO CITY, April 7, 2025 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A logistics real estate in Mexico, will host a webcast and conference call with senior management to discuss first quarter results, current market conditions and future outlook on Wednesday, April 30, at 9:00 a.m. Mexico Time.To access a live broadcast of the call, dial +1 888 596 4144 (toll-free from the United States and Canada), 800 269 4416 (toll-free from Mexico) or +1 646 968 2525 from al ...