STAG Industrial Announces Second Quarter 2016 Results

BOSTON, Aug. 2, 2016

"STAG and its industrial peers are benefiting from the very favorable conditions that currently exist in the U.S. industrial real estate market," said Ben Butcher, Chief Executive Officer of the Company.  "Our disciplined and differentiated approach to real estate investing continues to deliver both income and growth to our shareholders."

Highlights:

• Reported $(0.20) of Net Loss per diluted share for the second quarter of 2016. Reported $(13.8) million of Net Loss Attributable to Common Stockholders for the second quarter of 2016, compared to $(7.6) million for the second quarter ended June 30, 2015.
• Achieved $0.38 of Core FFO per diluted share for the second quarter of 2016, an increase of 5.6% compared to the second quarter ended June 30, 2015. Generated Core FFO of $27.2 million compared to $24.7 million for the second quarter of 2015, an increase of 10.1%. For the six months ended June 30, 2016, Core FFO increased 13.5% in the aggregate compared to the same period last year.
• Generated Cash NOI of $49.0 million compared to $43.4 million for the second quarter of 2015, an increase of 12.9%. For the six months ended June 30, 2016, Cash NOI increased 16.1% in the aggregate compared to the same period last year.
• Acquired five buildings consisting of 1.4 million square feet for $58.2 million with a weighted average Capitalization Rate of 7.9% in the second quarter of 2016.
• Sold seven buildings consisting of 634,404 square feet for $17.8 million during the second quarter of 2016.
• Achieved occupancy of 94.9% and executed leases for 2.3 million square feet for the second quarter of 2016. Experienced a cash rent change and GAAP Rent Change of (1.0)% and 5.1%, respectively, for the quarter's comparable leasing activity.
• Experienced 75.4% Retention for 921,971 square feet of leases expiring in the quarter. Achieved an increase in cash rent change and GAAP Rent Change of 5.8% and 9.9%, respectively, for the quarter's renewals.
• Subsequent to quarter end, raised gross proceeds of $76.1 million of common equity at an average price of $23.77 through the Company's ATM program.

Please refer to the Non-GAAP Financial Measures and Other Defined Terms section at the end of this release for definitions of capitalized terms used in this release.

The Company will host a conference call tomorrow, August 3, 2016, to discuss the quarter's results and provide information about acquisitions, operations, capital markets, and corporate activities. Details of the call can be found at the end of this release.

Key Financial Measures

SECOND QUARTER 2016 KEY FINANCIAL MEASURES ARIVA.DE Börsen-Geflüster Kurse Stag Industrial 35,57 $ +1,43%
		Three months ended June 30,						Six months ended June 30,
Metrics		2016		2015		% Change		2016		2015		% Change
($000,000s, except per share data)
Net loss attributable to common stockholders		$(13.8)		$(7.6)		(81.0)%		$(5.5)		$(11.7)		53.0%
Loss per share — basic and diluted		$(0.20)		$(0.12)		(66.7)%		$(0.08)		$(0.18)		55.6%
Cash NOI		$49.0		$43.4		12.9%		$98.4		$84.8		16.1%
Adjusted EBITDA		$43.1		$37.7		14.4%		$86.4		$73.3		17.8%
Core FFO		$27.2		$24.7		10.1%		$54.9		$48.4		13.5%
Core FFO per share / unit - basic		$0.38		$0.36		5.6%		$0.76		$0.71		7.0%
Core FFO per share / unit - diluted		$0.38		$0.36		5.6%		$0.76		$0.71		7.0%
AFFO		$28.2		$25.1		12.6%		$56.8		$50.0		13.6%

Definitions of the above mentioned non-GAAP financial measures, together with reconciliations to Net Income (Loss) in accordance with GAAP, appear at the end of this release. Please also see the Company's supplemental information package for additional disclosure.

Acquisition & Disposition Activity

For the three months ended June 30, 2016, the Company acquired five buildings for $58.2 million with an Occupancy Rate of 100% upon acquisition. The chart below details the acquisition activity for the quarter:

SECOND QUARTER 2016 ACQUISITION ACTIVITY
Location (CBSA) (1)	Date Acquired	Square Feet	Buildings		Purchase Price ($MM)	Weighted Average Lease Term (Years)	Capitalization Rate
Chicago-Naperville-Elgin, IL-IN-WI	4/28/2016	249,470	1		$8.7	3.3
Visalia-Porterville, CA	5/6/2016	635,281	1		27.9	10.5
Atlanta-Sandy Springs-Roswell, GA	5/11/2016 Werbung Mehr Nachrichten zur Stag Industrial Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 12:13 - PR Newswire Finsbury Growth & Income Trust Plc - Transaction in Own Shares 11:57 - PR Newswire Fidelity China Special Situations Plc - Transaction in Own Shares 02:00 - PR Newswire Vesuvius Plc - Transaction in Own Shares Der KI-Boom ist vorbei!    Aber dieser heiße Sektor verspricht, weiter zu wachsen... weiterlesen» Anzeige wo-site-teaser-box-16737_site-teaser-box_2024-04-23_09%253A00%253A00_2024-04-24_09%253A00%253A59