STAG Q4 2019 Earnings Report
Key Takeaways
STAG Industrial reported a decrease in net income attributable to common stockholders for Q4 2019, but experienced growth in Core FFO and Cash NOI. The company also achieved a high occupancy rate and made significant acquisitions during the quarter.
Net income attributable to common stockholders decreased to $16.1 million compared to $44.3 million in Q4 2018.
Core FFO per diluted share increased by 2.2% to $0.47 compared to Q4 2018.
Cash NOI increased by 21.7% to $89.0 million compared to Q4 2018.
The company acquired 23 buildings for $455.9 million with a cash capitalization rate of 6.1%.
STAG
STAG
Forward Guidance
While the earnings report does not contain specific forward guidance, the CEO's comments suggest a positive outlook for 2020, driven by acquisition volume and internal growth.
Positive Outlook
- Record level of acquisition volume achieved.
- Continued acceleration of internal growth.
- Significant momentum entering 2020.
- Raised net proceeds of $311.0 million of equity through a follow-on offering during the first quarter of 2020.
- High occupancy rate maintained.
Challenges Ahead
- Decrease in net income per share compared to the previous year.
- Increased expenses.
- Loss on impairments.
- Total other income decreased.
- Decrease in same store NOI.