- Stag Industrial (NYSE:STAG) Q4 funds from operations beat the consensus estimate as CEO Ben Butcher sees "healthy demand across our portfolio and a large and attractive opportunity for accretive portfolio growth."
- Q4 core FFO per share of 49 cents beating the average analyst estimate of 47 cents; compares with 46 cents in Q3 and 47 cents in Q4 2019.
- Same-store cash NOI rose 1.5% Y/Y vs. +0.8% increase in Q3.
- Occupancy rate of 96.9% on total portfolio and 97.2% on the operating portfolio as of Dec. 31, 2020.
- As of Feb. 10, STAG collected 99.6% of Q4 base rental billings; compares with 98.2% collection rate as of Nov. 5, 2020.
- Acquired 32 buildings for $579.9M with an occupancy rate of 100% upon acquisition; sold two buildings for a total of $155.5M.
- Adjusted EBITDAre of $89.7M increased 12% Y/Y.
- Conference call on Feb. 11 at 10:00 AM ET.
- Previously (Feb. 10): STAG Industrial FFO beats by $0.02, beats on revenue