STAG Q4 2022 Earnings Report
Key Takeaways
STAG Industrial reported strong Q4 2022 results, with a 13.7% increase in Cash NOI and a 7.8% increase in Core FFO per diluted share. The company acquired one building and sold two during the quarter, achieving a high occupancy rate of 98.5% on the total portfolio.
Net income per basic and diluted common share was $0.17 for Q4 2022.
Core FFO per diluted share increased by 7.8% to $0.55 for Q4 2022.
Cash NOI increased by 13.7% to $130.1 million for Q4 2022.
Same Store Cash NOI increased by 4.5% to $104.7 million for Q4 2022.
STAG
STAG
Forward Guidance
The company's management expressed confidence in continued internal growth driven by secular tailwinds and attractive portfolio positioning, with a defensive balance sheet allowing them to capitalize on opportunities in 2023.
Positive Outlook
- Secular tailwinds in the industrial space
- Attractive portfolio positioning
- Defensive balance sheet
- Opportunity to capitalize on opportunities throughout 2023
- Meaningful internal growth