STAG Industrial, Inc. is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It ...
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$1.52 per share
$1.52 per share
Est. EPS $1.10 · Revenue $906.42M · 2 analysts
Est. EPS $1.10 · Revenue $967.58M · 2 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $845.2M | +10.1% | +0.1% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $273.5M | +44.5% | -14.6% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +61.3% | -23.2% | +1.3% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +37.7% | +6.9% | -1.2% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +32.4% | +31.2% | -14.7% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $401.8M | +7.1% | +15.0% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +47.5% | -2.7% | +14.9% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 91.5% | +3.3% | +6.4% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.41x | -15.8% | -39.5% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $7.2B | +5.5% | +4.1% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 1.46 vs 1.24 | +18.1% | — | — |
| Revenue Surprise | $845.2M vs $836.7M | +1.0% | $224.4M vs $273.9M | -18.1% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Jul 15, 2026 | Butcher Benjamin S | director | Common Stock | A | 417 | $38.89 |
| Jul 15, 2026 | Wilbon Vicki Lundy | director | Common Stock | A | 417 | $38.89 |
| Jul 15, 2026 | Guillemette Larry T | director | Common Stock | A | 899 | $38.89 |
| Jul 15, 2026 | MARR CHRISTOPHER P | director | Common Stock | A | 417 | $38.89 |
| Jul 15, 2026 | WEGER HANS S | director | Common Stock | A | 417 | $38.89 |
Operator: Greetings. Welcome to the STAG Industrial, Inc. Second Quarter 2026 Earnings Conference Call. Please note, this conference is being recorded. I will now turn the conference over to Steve Xiarhos, VP, Investor Relations. Thank you, Steve. You may begin. Steve Xiarhos: Thank you. Welcome to STAG Industrial's Conference Call covering the Second Quarter 2026 results. In addition to the press release distributed yesterday, we 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 prepared 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 that may cause actual results to differ from those discussed today. Examples of forward-looking statements include forecast of Core FFO, same-store NOI, G&A, acquisition and disposition volumes, retention rates and other guidance, leasing prospects, rent collections, industry and economic trends, and other matters. We encourage all listeners to review the more detailed discussion related to these forward-looking statements contained in the company's filings with the SEC and the definitions and reconciliations of non-GAAP measures contained in the supplemental information package available on the company's website. As a reminder, forward-looking statements represent management's estimates as of today. STAG Industrial assumes no obligation to update any forward-looking statements. On today's call, you'll hear from Bill Crooker, our Chief Executive Officer; and Matts Pinard, our Chief Financial Officer. Also here with us today are Mike Chase, our Chief Investment Officer; and Steve Kimball, our Chief Operating Officer, who are available to answer questions specific to their areas of focus. I will now turn the call over to Bill. William Crooker: Thank you, Steve. Good morning, everybody, and welcome to the second quarter earnings call for STAG Industrial. We are pleased to have you join us and look forward to discussing the second quarter 2026 results. Industrial fundamentals continue to stabilize in the second quarter, and we remain constructive on the trajectory heading into the back half of the year. In our view, vacancy has peaked both nationally and within STAG's portfolio. Net absorption was 69 million square feet this quarter, a meaningful acceleration from Q1 and was 111 million square feet in the first half, the best start to a year since 2022. Supply continues to work in the market's favor. The development pipeline has contracted roughly halfway from its 2022 peak and under construction product now represents just 2% of total stock, of which about 55% is pre-leased. Demand tailwinds remain intact and diversified. E-commerce as a percentage of retail sales hit a record high earlier this …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
William R. Crooker | Chief Executive Officer, President & Director | USD 2,281,182 | Male | 1980 | Active |
Matts S. Pinard | Executive Vice President, Chief Financial Officer & Treasurer | USD 1,168,380 | Male | 1983 | Active |
Steven T. Kimball | Executive Vice President & Chief Operating Officer | USD 1,142,655 | Male | 1966 | Active |
Jeffrey Sullivan | Executive Vice President, General Counsel & Secretary | USD 1,139,314 | Male | 1969 | Active |
Michael Christopher Chase | Executive Vice President & Chief Investment Officer | USD 1,104,260 | Male | 1973 | Active |
Bradford F. Sweeney | Senior Vice President of Acquisitions of West Region | — | Male | 1971 | Active |
Jeff Mangano | Senior Vice President and Head of Data & Technology | — | Male | — | Active |
Steve Xiarhos | Vice President of Investor Relations | — | Male | — | Active |
Andrea Gillespie | Director of Human Resources | — | Female | — | Active |
Jaclyn Paul | Chief Accounting Officer | — | Female | — | Active |
STAG is a Buy with a $40 target, supported by ~20% leasing spreads, improving industrial fundamentals, and a reasonable ~14x Core FFO valuation. Occupancy fell to 94.5%, but 2026 leasing is 91.7% addressed at a 20.5% cash rent increase, showing pricing power remains intact. Management raised 2026 Core FFO guidance to $2.61–$2.65 and same-store cash NOI growth guidance to 3.0%–3.5%.
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