STAG Q2 2020 Earnings Report
Key Takeaways
STAG Industrial reported a positive second quarter in 2020, with an increase in net income per share, Core FFO per share, and strong occupancy rates. The company also made strategic acquisitions and dispositions during the quarter, and collected a high percentage of base rental billings.
Reported $0.12 of net income per basic and diluted common share for the second quarter of 2020, as compared to $0.10 of net income per basic and diluted common share for the second quarter of 2019.
Achieved $0.47 of Core FFO per diluted share for the second quarter of 2020, an increase of 4.4% compared to the second quarter of 2019 Core FFO per diluted share of $0.45.
Produced Cash NOI of $96.6 million for the second quarter of 2020, an increase of 24.5% compared to the second quarter of 2019 of $77.6 million.
Achieved an Occupancy Rate of 97.0% on the total portfolio and 97.6% on the Operating Portfolio as of June 30, 2020.
STAG
STAG
Forward Guidance
The company did not provide forward guidance for the next quarter but will discuss acquisitions, operations, capital markets and corporate activities in the conference call.