The following is a summary of the STAG Industrial, Inc. (STAG) Q3 2024 Earnings Call Transcript:

Financial Performance:

• STAG Industrial reported core FFO per share of $0.60 for Q3 2024, marking a 1.7% increase from the previous year.

• Net debt to annualized run rate adjusted EBITDA was reported at 5.1x.

• Cash available for distribution totaled $88 million for the quarter, with $75 million retained for various purposes after dividends.

• Year-to-date, same-store cash NOI growth was 6.1%, with Q3 alone seeing a growth of 4.4%.

• Core FFO guidance for the year was revised to a range of $2.38 to $2.40 per share, reflecting a slight increase.

Business Progress:

• Acquisition activities gained momentum with $130 million in volume for Q3, including a $78.1 million acquisition of a five property portfolio in Boston area.

• Over 2.1 million square feet of development activity is underway across nine buildings in the U.S., including a joint venture for a 284,000 square foot distribution facility.

• A total of 20 leases comprising 3.3 million square feet were commenced during the quarter.

Opportunities:

• Continued market rent growth with an annual projection of about 4%.

• The 2024 leasing achievements and the expected leasing activity for 2025 present ongoing opportunities for revenue growth from existing and new properties.

• The active acquisition market and the strategic positioning of the newly acquired portfolios in supply-constrained areas highlight potential for capitalizing on market dynamics.

Risks:

• American Tire Distributors, representing 1% of annualized base rent, entered into Chapter 11 bankruptcy, which might pose risks associated with lease affirmations or rejections moving forward.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.