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Dec 31, 2023
STAG Q4 2023 Earnings Report
STAG Industrial reported exceptional fourth quarter results, achieving record cash rent change and same-store cash NOI.
Key Takeaways
STAG Industrial announced strong Q4 2023 results, with significant increases in net income, Core FFO, and Cash NOI. The company also completed strategic acquisitions and dispositions, and achieved a high occupancy rate.
Net income attributable to common stockholders increased to $41.7 million, up 40.2% year-over-year.
Core FFO per diluted share rose to $0.58, a 5.5% increase compared to Q4 2022.
Cash NOI reached $143.1 million, a 10.0% increase year-over-year.
Same Store Cash NOI grew by 6.8% to $127.0 million.
STAG
STAG
Forward Guidance
As of February 12, 2024, STAG addressed 68.7% of expected 2024 new and renewal leasing, consisting of 9.2 million square feet, achieving Cash Rent Change of 29.5%.