Q4 2025 STAG Industrial Inc Earnings Call Transcript
Key Points
- Stag Industrial Inc (STAG) reported a successful 2025 with a record amount of square footage expiring and addressed 69% of the operating portfolio square feet expected to lease in 2026.
- The company achieved cash leasing spreads of 18% to 20% for 2026, indicating strong tenant engagement and commitment.
- Acquisition volume for Q4 2025 totaled $285.9 million, with buildings 97% leased to strong credits and weighted average rental escalators of 3.5%.
- Stag Industrial Inc (STAG) raised its dividend by 4%, the largest increase since 2014, reflecting strong financial performance and cash flow management.
- Core FFO per share increased by 6.3% compared to 2024, demonstrating solid financial growth and operational efficiency.
- The company anticipates a 100 basis points decline in occupancy due to 20 million square feet rolling in 2026, with a 25% nonrenewal rate.
- Interest expense from recent refinancing will be a $0.03 headwind to core FFO per share growth in 2026.
- Same-store cash NOI growth is expected to be lower in 2026, ranging between 2.75% and 3.25%, compared to 2025.
- The company is budgeting 50 basis points of credit loss for 2026, higher than the 20 basis points realized in 2025.
- Acquisition timing is expected to be more heavily weighted to the back end of the year, potentially impacting immediate growth opportunities.
Greetings, and welcome to the STAG Industrial, Inc., fourth-quarter 2025 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Steve Xiarhos, Vice President, Investor Relations. Thank you, sir. You may begin.
Thank you. Welcome to STAG Industrial's conference call covering the fourth quarter 2025 results. In addition to the press release distributed yesterday, we have posted an unaudited quarterly supplemental information presentation on the company's website at stagindustrial.com under the Investor Relations section.
On today's call, the company's preparwed remarks and answers to your questions will contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address matters that are subject to risks and uncertainties and that may cause actual results to differ from those discussed today.
Examples of
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
