STAG Industrial, Inc. Q1 FY26 Results

Summary

STAG Industrial announced its first quarter 2026 financial and operating results, reporting net income attributable to common stockholders of $61.961 million, a 32.2% decrease from the prior year. Despite the decline in net income, the company achieved a 6.6% increase in Core FFO per diluted share to $0.65 and a 4.1% rise in Same Store Cash NOI to $159.309 million. Operational highlights included a robust 95.1% total portfolio occupancy rate and significant rent growth from commenced leases. CEO Bill Crooker emphasized strong results driven by healthy leasing activity and disciplined capital allocation, positioning the company well for future opportunities.

Key Highlights

1. 1

   Net income attributable to common stockholders for the first quarter of 2026 was $61.961 million, representing a 32.2% decrease compared to $91.340 million in the first quarter of 2025.

2. 2

   Core FFO per diluted share increased by 6.6% to $0.65 for the first quarter of 2026, up from $0.61 in the comparable prior year period.

3. 3

   Same Store Cash NOI for Q1 2026 rose by 4.1% year-over-year, reaching $159.309 million.

4. 4

   The company acquired one building spanning 748,833 square feet for $80.7 million, with a Cash Capitalization Rate of 6.1% during the quarter.

5. 5

   Operating Portfolio leases commenced for 6.0 million square feet in Q1 2026, resulting in a Cash Rent Change of 20.9% and a Straight-Line Rent Change of 39.6%.

6. 6

   As of March 31, 2026, the total portfolio maintained a strong Occupancy Rate of 95.1%, with the Operating Portfolio at 96.0%.

7. 7

   The acquisition pipeline amounted to $3.9 billion, consisting of 164 buildings totaling 33.8 million square feet, as of April 27, 2026.