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Jun 30, 2024
STAG Q2 2024 Earnings Report
STAG Industrial reported exceptional operating results for the second quarter of 2024, leveraging successful operations and liquidity to drive further growth.
Key Takeaways
STAG Industrial announced strong second quarter 2024 results, with significant increases in net income, Core FFO, and Cash NOI. The company continued to expand its portfolio through strategic acquisitions and dispositions, while maintaining a high occupancy rate.
Net income attributable to common stockholders increased by 15.9% to $59.7 million.
Core FFO per diluted share rose by 8.9% to $0.61.
Cash NOI increased by 10.3% to $148.4 million.
The company acquired ten buildings totaling 2.2 million square feet for $225.6 million.
STAG
STAG
Forward Guidance
While the earnings report does not contain the forward guidance, the CEO mentioned that they will leverage the successful operating results along with their liquidity to drive further growth this year and next.