STAG Industrial (STAG) Q1 2025 Earnings
How Did STAG Stock React to Q1 2025 Earnings?
S&P 500 over the same 30 days: +6.88%.
Did STAG Beat Earnings? Q1 2025 Results
STAG Industrial posted a solid beat to open 2025, with first-quarter revenue climbing 9.6% year-over-year to $205.57 million, clearing the $201.99 million consensus estimate by 1.77%, while GAAP EPS landed at $0.49 per share. The headline profit figure was significantly lifted by a $49.91 million net gain on the sale of a single rental property, which helped drive net income attributable to common stockholders sharply higher versus the year-ago period. Stripping out that one-time item, the underlying industrial portfolio showed real operational momentum, with Core FFO rising 5.7% to $115.24 million, or $0.61 per diluted share, and leasing activity delivering a 27.3% cash rent change across 5 million square feet of commenced leases. Occupancy held firm at 96.8% for the operating portfolio. Looking ahead, STAG has already addressed 78.5% of its expected 2025 leasing volume at a 25.1% cash rent change, and a post-quarter $550 million private placement of senior unsecured notes positions the company to pursue its $3.80 billion acquisition pipeline.
- Cash Rent Change of 27.3% on commenced leases in Q1 2025
- Straight-Line Rent Change of 42.1% on commenced leases in Q1 2025
- Same Store Cash NOI growth of 3.4% year-over-year
- 85.3% tenant retention rate on expiring leases
- $49.9 million net gain on sale of rental property
- 8.1% growth in Cash NOI year-over-year
- Core FFO per diluted share growth of 3.4% year-over-year
“The level of operational success the Company achieved to start 2025 was impressive. STAG has set the foundation for sustainable growth in 2025 and will continue to benefit from a strong balance sheet, ample liquidity and broad market diversification.”
STAG Industrial CEO, on the earnings call
What Was STAG Industrial's Outlook in Q1 2025?
STAG has set the foundation for sustainable growth in 2025. As of April 28, 2025, the company has addressed 78.5% of expected 2025 new and renewal leasing consisting of 11.3 million square feet, achieving Cash Rent Change of 25.1%. The acquisition pipeline stands at 30.4 million square feet across 181 buildings valued at approximately $3.8 billion. Post-quarter, the company secured $550 million in new fixed rate senior unsecured notes to fund future growth. The company will continue to benefit from a strong balance sheet, ample liquidity and broad market diversification.
STAG YoY Financials
| Metric | Q1 2025 | Q1 2024 | Year over year |
|---|---|---|---|
| Revenue | $205.6M | $187.6M | +9.6% |
| Net Income | $93.4M | $36.6M | +154.9% |
| Operating Income | $74.1M | $64.1M | +15.6% |
STAG Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.