STAG - STAG Industrial Q1 Earnings: Powering Through A Softening Industrial Market

2024-05-01 13:20:00 ET

Summary

• STAG Industrial reported first quarter earnings on April 30th.
• STAG Industrial's first quarter earnings were strong, with robust Same Store Cash NOI growth and impressive leasing performance.
• We dive into earnings and discuss critical developments as the industrial market deteriorates.
• STAG stock earns a "Buy" rating, outperforming peers, continuing to shrink the payout ratio behind the growing dividend.

STAG Industrial Overview

STAG Industrial, Inc. ( STAG ) is a unique real estate investment trust, or REIT, in several ways. First and foremost, STAG is one of the few REITs in the net lease sector that focuses exclusively on industrial properties. Digging deeper, STAG’s business model has additional layers of differentiation from the typical net lease REIT. Several months ago, we discussed STAG’s fourth quarter earnings , highlighting strength in leasing spreads and critical differentiations in their business model from other industrial REITs....

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