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Mar 31, 2022
STAG Q1 2022 Earnings Report
STAG Industrial's financial results for Q1 2022 were announced, revealing an increase in net income, core FFO, and cash NOI compared to the same period last year.
Key Takeaways
STAG Industrial reported a strong first quarter in 2022, with significant increases in net income, Core FFO per diluted share, and Cash NOI. The company acquired eight buildings and sold one building and one land parcel during the quarter.
Net income per basic and diluted common share increased to $0.30, compared to $0.13 in Q1 2021.
Core FFO per diluted share rose by 8.2% to $0.53, compared to $0.49 in Q1 2021.
Cash NOI increased by 18.6% to $122.9 million, compared to $103.7 million in Q1 2021.
The company acquired eight buildings for $166.4 million and sold one building and one land parcel for $36.1 million.
STAG
STAG
Forward Guidance
No forward guidance was provided in the press release.