STAG Industrial, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 04:06 pm
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STAG Industrial, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 177.86 million compared to USD 164.68 million a year ago. Revenue was USD 179.28 million compared to USD 166.31 million a year ago. Net income was USD 50.04 million compared to USD 63.33 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.35 a year ago. Diluted earnings per share from continuing operations was USD 0.28 compared to USD 0.35 a year ago.
For the nine months, sales was USD 522.57 million compared to USD 484.34 million a year ago. Revenue was USD 524.53 million compared to USD 487.01 million a year ago. Net income was USD 151.11 million compared to USD 148.53 million a year ago. Basic earnings per share from continuing operations was USD 0.84 compared to USD 0.83 a year ago. Diluted earnings per share from continuing operations was USD 0.84 compared to USD 0.83 a year ago.
STAG Industrial, Inc. is a real estate investment trust (REIT), which is focused on the acquisition, ownership and operation of industrial properties throughout the United States. The Companyâs is designed to identify properties for acquisition that offer relative value across all locations, industrial property types, and tenants through the principled application of its risk assessment model. Its primary business objectives are to own and operate a balanced and diversified portfolio of binary risk investments that maximize cash flows available for distribution to its stockholders, and to enhance stockholder value over time by achieving sustainable long-term growth in distributable cash flow from operations per share. The Company owns approximately 569 buildings in 41 states with 112.3 million rentable square feet, consisting of approximately 493 warehouse/distribution buildings, 70 light manufacturing buildings, one flex/office building, and five value add portfolio buildings.
STAG INDUSTRIAL, INC. 
