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STAG NYSE· STAG Industrial Inc.
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STAG NYSE· STAG Industrial Inc.
Earnings report Q4 2023

STAG Industrial, Inc. Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

In the latest quarter, STAG Industrial, Inc. reported total revenue of $707.8 million, representing a significant increase compared to the same quarter in the previous year. The company's revenue primarily consists of rental income, which amounted to $705.2 million, and other income, which totaled $2.7 million.

Strengths

STAG Industrial, Inc. demonstrated strong revenue growth in the latest quarter, with a substantial increase compared to the same period last year. This growth can be attributed to the company's focus on the acquisition, ownership, and operation of industrial properties in the United States. The demand for industrial real estate has been robust, driven by factors such as e-commerce expansion and increased logistics needs. STAG's strategic positioning in the industrial sector has allowed it to capitalize on these trends and generate significant rental income.

Challenges

While STAG Industrial, Inc. experienced strong revenue growth, it also faced certain challenges in the latest quarter. The company reported an increase in expenses, particularly in property-related costs, general and administrative expenses, and depreciation and amortization. These higher expenses may have impacted the company's overall profitability and net income.

Noteworthy

It is worth noting that STAG Industrial, Inc. recorded a gain on the sales of rental property, netting $54.1 million in the latest quarter. This gain contributed to the company's overall revenue and may have helped offset some of the higher expenses incurred.

Summary

STAG Industrial, Inc. delivered a strong performance in the latest quarter, with significant revenue growth driven by robust rental income. The company's strategic focus on industrial properties in the United States has allowed it to capitalize on favorable market conditions, such as the expansion of e-commerce and increased logistics needs. However, the company also faced challenges in the form of higher expenses, which may have impacted its profitability. Overall, STAG Industrial, Inc. remains well-positioned in the industrial real estate sector, benefiting from favorable market dynamics.

Source documents

Form 10-K  filed on Feb 13, 2024
52 pages scanned

Reference data

Company financials Q4 revenue 183M
Analyst estimates Q4 EPS missed by NaN%
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