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16.02.2017 22:10
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STAG Industrial Announces Fourth Quarter And Year-End 2016 Results
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PR Newswire
BOSTON, Feb. 16, 2017
BOSTON, Feb. 16, 2017 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE: STAG), a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States, today announced its financial and operating results for the fourth quarter of 2016.
"The strong fourth quarter results cap an impressive 2016 for the Company," said Ben Butcher, Chief Executive Officer of the Company. "With historic acquisition levels and healthy portfolio operating metrics along with prudent capital allocation, STAG is well positioned for another excellent year."
Highlights:
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| • | Reported $0.38 of net income per basic and diluted share for the fourth quarter of 2016, as compared to $(0.31) of net loss per basic and diluted share for the fourth quarter of 2015. Reported $28.6 million of net income attributable to common stockholders for the fourth quarter of 2016 compared to a net loss attributable to common stockholders of $(21.3) million for the fourth quarter of 2015. For the year ended 2016, net income attributable to common stockholders was $20.2 million as compared to a net loss of $(38.6) million in 2015. |
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| • | Achieved $0.42 of Core FFO per basic and diluted share for the fourth quarter of 2016, an increase of 5.0% compared to the fourth quarter of 2015. Generated Core FFO of $33.1 million compared to $28.3 million for the fourth quarter of 2015, an increase of 17.2%. For the year ended December 31, 2016, Core FFO increased 13.3% in the aggregate compared to the same period last year and Core FFO per diluted share increased 6.0% compared to the same period last year. |
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| • | Generated Cash NOI of $55.1 million compared to $48.8 million for the fourth quarter of 2015, an increase of 12.8%. For the year ended December 31, 2016, Cash NOI increased 13.6% in the aggregate compared to the same period last year. |
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| • | Acquired 24 buildings in the fourth quarter of 2016, consisting of 4.5 million square feet for $219.7 million with a weighted average Capitalization Rate of 7.7%. |
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| • | Sold 10 buildings in the fourth quarter of 2016, consisting of 2.2 million square feet for $103.3 million, inclusive of a portfolio of six buildings that was disposed of at a 6.9% weighted average Capitalization Rate. |
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| • | Achieved occupancy of 94.7% on the total portfolio and 95.7% on the Operating Portfolio as of December 31, 2016. |
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| • | Executed Operating Portfolio leases for 1.5 million square feet for the fourth quarter of 2016. Experienced a cash rent change and GAAP Rent Change of 5.6% and 9.8%, respectively, for the quarter's Operating Portfolio leasing activity. |
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| • | Experienced 69.1% Retention for 1.8 million square feet of leases expiring in the quarter. Achieved an increase in cash rent change and GAAP Rent Change of 2.0% and 11.4%, respectively, for these renewals. |
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| • | Raised gross proceeds of $182.0 million of equity through the Company's at-the-market offering ("ATM") program for the fourth quarter of 2016. Subsequent to quarter end and through February 16, 2017, raised gross proceeds of $39.1 million through the ATM program. |
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| • | Redeemed all $69 million of outstanding 9.0% Series A Preferred Stock on November 2, 2016. |
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| • | Repriced two $150 million unsecured bank term loans on December 20, 2016 to reflect current favorable market pricing. |
Please refer to the Non-GAAP Financial Measures and Other Definitions section at the end of this release for definitions of capitalized terms used in this release.
The Company will host a conference call tomorrow, February 17, 2017 at 10:00 a.m (Eastern Time), 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
| FOURTH QUARTER 2016 KEY FINANCIAL MEASURES | |||||||
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| | Three months ended | | | Year ended | | ||
| Metrics | 2016 | 2015 | % Change | | 2016 | 2015 | % Change |
| (in millions, except per share data) | | | | | | | |
| Net income (loss) attributable to common stockholders | $28.6 | $(21.3) | 234.2% | | $20.2 | $(38.6) | 152.4% |
| Net income (loss) per share — basic | $0.38 | $(0.31) | 222.6% | | $0.29 | $(0.58) | 150.0% |
| Net income (loss) per share — diluted | $0.38 | $(0.31) | 222.6% | | $0.29 | $(0.58) | 150.0% |
| Cash NOI | $55.1 | $48.8 | 12.8% | | $205.5 | $180.9 | 13.6% |
| Adjusted EBITDA | $48.9 | $41.9 | 16.9% | | $181.5 | $156.1 | 16.3% |
| Core FFO | $33.1 | $28.3 | 17.2% | | $118.3 | $104.4 | 13.3% |
| Core FFO per share / unit — basic | $0.42 | $0.40 | 5.0% | | $1.59 | $1.49 | 6.7% |
| Core FFO per share / unit — diluted | $0.42 | $0.40 | 5.0% | | $1.58 | $1.49 | 6.0% |
| AFFO | $33.9 Werbung Mehr Nachrichten zur Stag Industrial Aktie kostenlos abonnieren
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