STAG Industrial Announces New Registration Statement

STAG Industrial, Inc. (NYSE:STAG), a $6.59 billion real estate investment trust specializing in industrial properties, has filed a new registration statement with the Securities and Exchange Commission (SEC), the company disclosed today. According to InvestingPro data, STAG maintains a solid 4.25% dividend yield and has raised its dividend for 14 consecutive years, demonstrating consistent shareholder returns. This filing replaces the previous registration statement from February 16, 2022, and was effective as of February 12, 2025.

The new registration statement enables STAG Industrial to continue its at-the-market offering program, under which the company can sell common stock up to an aggregate amount of $750 million. As of today, approximately $510.5 million worth of shares remain available for sale under this program. InvestingPro analysis indicates that STAG's short-term obligations currently exceed its liquid assets, which may explain the company's strategy to maintain financing flexibility through this offering program.

In conjunction with the new registration statement, STAG Industrial has also updated its equity distribution agreements on Thursday, February 13, 2025. Amendments were made to agreements with several financial institutions, including Robert W. Baird & Co. Incorporated, BofA Securities, Inc., and others, which act as sales agents, forward sellers, or forward purchasers in the at-the-market offering.

The shares offered under this program are pursuant to the new registration statement and a prospectus supplement dated February 13, 2025. The company clarified that this report does not constitute an offer to sell or a solicitation of an offer to buy these securities.

The details of the amendments to the equity distribution agreements have been filed with the SEC and are part of the company's current report. The amendments are said to reflect the filing of the new registration statement, but the company has not provided specific details on the nature of these changes in its announcement.

This move by STAG Industrial is part of its ongoing capital management strategy and provides the company with flexibility in financing its operations and growth. The company maintains a GOOD overall financial health score according to InvestingPro, which offers comprehensive analysis and additional ProTips in its detailed Pro Research Report, available for over 1,400 US stocks. The information for this report is based on the latest SEC filings by STAG Industrial, Inc.

In other recent news, STAG Industrial Inc. outperformed Q4 estimates, reporting earnings that surpassed analyst projections. The industrial real estate investment trust disclosed adjusted funds from operations (FFO) of $0.61 per share, exceeding the anticipated $0.58 per share. The company's revenue for the quarter was $199.3 million, surpassing analyst forecasts of $193.7 million.

STAG's net income for the fourth quarter rose to $52 million, or $0.28 per share, a notable increase from $42.6 million, or $0.23 per share, during the same period last year. The company noted robust leasing activity, with cash rent changes up 19.4% on new and renewal leases signed during the quarter.

For the full year 2024, STAG achieved core FFO of $2.40 per share, a 4.8% increase from $2.29 in 2023. The company acquired 15 buildings totaling 2.4 million square feet for $293.7 million during the fourth quarter. Looking ahead, STAG has already addressed 70.2% of expected 2025 new and renewal leasing, achieving cash rent changes of 23.8% on 9.7 million square feet. These are among the recent developments within the company.

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