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Investing.com -- STAG Industrial, Inc. (NYSE:STAG) reported first-quarter earnings that exceeded analyst estimates, driving shares up 2.6% in response to the positive results.
The industrial real estate investment trust posted adjusted earnings per share of $0.49 for the quarter ended March 31, 2025, significantly beating the analyst consensus of $0.18. Revenue came in at $205.57 million, also topping expectations of $200.84 million.
STAG’s quarterly revenue increased 8.1% compared to $190.16 million in the same period last year. The company achieved an occupancy rate of 95.9% on its total portfolio as of March 31.
"The level of operational success the Company achieved to start 2025 was impressive," said Bill Crooker, President and CEO of STAG Industrial. "STAG has set the foundation for sustainable growth in 2025 and will continue to benefit from a strong balance sheet, ample liquidity and broad market diversification."
For leases commencing in Q1, STAG reported a cash rent change of 27.3% and a straight-line rent change of 42.1%. The company also experienced 85.3% retention for 5.5 million square feet of leases expiring in the quarter.
STAG acquired three buildings totaling 393,564 square feet for $43.3 million during the first quarter. The company also sold one 337,391 square foot building for $67 million, resulting in a net gain of $49.9 million.
As of April 28, STAG had addressed 78.5% of expected 2025 new and renewal leasing, consisting of 11.3 million square feet and achieving a cash rent change of 25.1%.
The positive earnings report and guidance drove STAG shares higher by 2.6% following the announcement, indicating investor optimism about the company’s performance and outlook.
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