STAG Industrial (STAG) Tops Q3 EPS by 19c

STAG Industrial (NYSE: STAG) reported Q3 EPS of $0.20, $0.19 better than the analyst estimate of $0.01.

• Reported $0.20 of net income per basic and diluted share for the third quarter of 2017, as compared to $0.05 of net loss per basic and diluted share for the third quarter of 2016. Reported $18.5 million of net income attributable to common stockholders for the third quarter of 2017 compared to net loss attributable to common stockholders of $3.8 million for the third quarter of 2016.
• Achieved $0.43 of Core FFO per diluted share for the third quarter of 2017, an increase of 7.5% compared to the third quarter of 2016 of $0.40. Generated Core FFO of $42.0 million compared to $30.3 million for the third quarter of 2016, an increase of 38.8%.
• Generated Cash NOI of $62.0 million for the third quarter of 2017, an increase of 19.4% compared to the third quarter of 2016 of $51.9 million. Generated Cash NOI of $176.5 million compared to $150.4 million for the nine months ended September 30, 2017, an increase of 17.4%.
• Acquired 10 buildings in the third quarter of 2017, consisting of 2.3 million square feet, for $119.7 million with a weighted average Capitalization Rate of 7.5%.
• Sold five buildings in the third quarter of 2017, consisting of 791,064 square feet for $34.7 million.
• Achieved an Occupancy Rate of of 94.6% on the total portfolio and 95.4% on the Operating Portfolio as of September 30, 2017.
• Executed Operating Portfolio leases for 2.0 million square feet for the third quarter of 2017. Resulting in a cash rent change and GAAP Rent Change of 10.5% and 18.7%, respectively.
• Experienced 70.9% Retention for 1.3 million square feet of leases expiring in the quarter. Resulting in a cash rent change and GAAP Rent Change of 8.5% and 15.3%, respectively.
• Raised gross proceeds of $65.2 million of equity through the Company\'s at-the-market offering (\"ATM\") program for the third quarter of 2017. Subsequent to quarter end and through November 2, 2017, raised gross proceeds of $5.1 million through the ATM program.
• Originated a new five and a half year, $150 million term loan and fully repaid $88 million of secured debt during the third quarter of 2017.

For earnings history and earnings-related data on STAG Industrial (STAG) click here.

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