The following is a summary of the STAG Industrial, Inc. (STAG) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Core FFO per share was $0.61 for the quarter, an increase of 8.9% compared to last year.

• Cash available for distribution for Q2 totaled $95.1 million.

• Acquisition volume for the quarter totaled $225.6 million, including high-yield cap rates of 6.7% and 7%.

• Dispositions totaled $78.2 million, sold primarily non-core assets.

• Cash same-store NOI growth reached 6.1% for the quarter and 6.5% year-to-date.

Business Progress:

• STAG Industrial focused on industrial real estate, aligned with positive market indicators such as nearshoring and onshoring trends.

• Development activities include over 1.7 million square feet across five U.S. projects, with significant developments in Tennessee and Oregon.

• Execution of a significant leasing deal with a wood flooring company, resulting from a $150 million factory expansion, reinforcing positive impacts from onshoring trends.

Opportunities:

• The company continues to leverage onshoring trends, capturing opportunities through strategic leases that support onshoring and nearshoring projects.

• Focused on acquisitions in CBRE Tier 1 markets, targeting quality opportunities across diverse geographical locations for balanced growth.

Risks:

• Market conditions, including interest rates, and a volatile financial market remain a risk, affecting acquisition and disposition activities.

• Demand and decision-making in leasing could be slower, especially for larger leases, mostly influenced by uncertain economic conditions.

More details: Stag Industrial Inc IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.