Companies /Real Estate

STAG Industrial Inc

NYSE: STAG Reit - Industrial
$37.60
▲ $0.11 (+0.29%) today
Markets closed · 2:26am ET

Q1 2025 Earnings

Reported Apr 29, 2025, 4:07pm ET · SEC source
$0.49
Beat +0.00%
EPS · est. $0.00
$205.6M
Beat +1.77%
Revenue · est. $202.0M
+2.1%
Beating market
STAG vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%−2%0Apr 29Apr 30report 4:07pm ETearnings+0.2%+0.0%
−4%−2%0Apr 29Apr 30earnings+0.2%+0.0%
STAG +0.0%S&P 500 +0.2%
−4%−2%0Apr 29Apr 30report 4:07pm ETearnings+0.3%+0.0%
−4%−2%0Apr 29Apr 30earnings+0.3%+0.0%
STAG +0.0%NASDAQ +0.3%
−2%0+2%Apr 28May 7report 4:07pm ETearnings+1.2%+1.2%
−2%0+2%Apr 28May 7earnings+1.2%+1.2%
STAG +1.2%S&P 500 +1.2%
−2%0+2%Apr 28May 7report 4:07pm ETearnings+1.8%+1.2%
−2%0+2%Apr 28May 7earnings+1.8%+1.2%
STAG +1.2%NASDAQ +1.8%
+0.58%
Day of report
+0.18%
Next session
+1.21%
One week
+9.02%
30 days

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.

Key Takeaways
  • 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

Forward Guidance & Outlook

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

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$60.0M$120.0M$180.0M$187.6M$205.6MRevenue$36.6M$93.4MNet Income$64.1M$74.1MOperating Income
$0$60.0M$120.0M$180.0MRevenueNet IncomeOperating Income

STAG Revenue by Segment

Rental Income
Other Income

Figures from SEC filings and company reports. Not investment advice.