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STAG Industrial Q3 net income per share rises

By Reuters News


Overview

  • US industrial REIT's Q3 net income per share rose yr/yr

  • Core FFO per diluted share grew 1.5% yr/yr


Outlook

  • STAG Industrial expects to deliver another strong operational year while maintaining a healthy balance sheet


Result Drivers

  • LEASING ACTIVITY - Co said leasing and development progress, along with improved industrial fundamentals, contributed to Q3 results

  • RENT GROWTH - Operating portfolio leases commenced in Q3 saw a 23.8% cash rent increase and 35.7% straight-line rent increase

  • HIGH OCCUPANCY - Portfolio occupancy rate was 95.9% at quarter end, with 90.3% retention on expiring leases


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$0.37

Q3 Basic EPS

$0.37


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the commercial reits peer group is "buy"

  • Wall Street's median 12-month price target for STAG Industrial, Inc. is $42.00, about 15.7% above its October 26 closing price of $36.30

  • The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 34 three months ago


Reuters Recommended Reads

  • Oct 26 - Brixmor Property Group Q3 FFO rises, dividend up 7.3%

  • Oct 26 - Phillips Edison's Q3 Core FFO per share up; lifts FY forecast on strong leasing and occupancy

  • Oct 26 - Piedmont Realty Trust Q3 core FFO per share rises as rental rates grew, new leases started


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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