From The Motley Fool · Motley Fool Transcribing · · 3m
STAG Industrial Q3 2026 Earnings Results
STAG Industrial reports 1.5% rise in core FFO per share and updated guidance for 2026.
In brief
STAG Industrial reports 1.5% rise in core FFO per share and updated guidance for 2026. STAG Industrial increased core FFO per diluted share to $0.66 for Q3 2026, up 1.5% from Q3 2025, with updated guidance for 2026. Originally reported by The Motley Fool.
Q3 2026 Results
STAG Industrial reported core FFO per diluted share of $0.66, a 1.5% increase from $0.65 in Q3 2025.
Net Income Per Share
Net income per diluted share rose to $0.37 from $0.26 in the same period last year.
Same Store Cash NOI
Same store cash NOI grew 3.5% to $159.9 million, up from $154.5 million in Q3 2025.
Cash Rent Change
Cash rent change reached 23.8% across 3.6 million square feet of new leasing activity.
Straight-Line Rent Change
Straight-line rent change increased 35.7% for leases commenced in Q3 2026.
Retention Rate
Retention rate for 2.9 million square feet of expiring leases reached 90.3%.
Operating Portfolio Occupancy
Operating portfolio occupancy stood at 96.2% as of September 30, 2026.
Acquisition Volume
Acquisition volume totaled $107.9 million for two buildings totaling 1.1 million square feet.
Disposition Volume
Disposition volume amounted to $67.9 million from four buildings totaling 1.1 million square feet.
Core FFO Guidance
Core FFO guidance increased to $2.64 to $2.66 per share, up $0.02 at the midpoint.
Cash Same Store Growth Guidance
Cash same store growth guidance revised upward to 3.5% to 3.75% for the year.
Average Same Store Occupancy Guidance
Average same store occupancy guidance increased to 96.75% to 97.25% for the year.
Acquisition Volume Guidance
Acquisition volume guidance narrowed to $530 million to $600 million due to uncertain capital markets.
G&A Guidance
G&A guidance increased to $56 million to $57 million, reflecting internal adjustments and new hires.
Net Debt to Adjusted EBITDA
Net debt to adjusted EBITDA ratio stood at 5.1 times on an annualized run rate basis.
Liquidity
Liquidity stood at $546 million as of the end of Q3 2026.
Share Repurchase Authorization
Board authorized $250 million share repurchase program effective October 26, 2026.
Development Pipeline
Development pipeline includes 1.8 million square feet across seven buildings with expected stabilized yield of 7%.
Data Center Leasing
Data center related leasing accounts for 26% of new operating portfolio leasing since 2025.
Market Rent Growth Forecast
Market rent growth forecast for 2027 ranges 2% to 4%, up from 1.6% expected in 2026.
The one thing
STAG Industrial increased core FFO per diluted share to $0.66 for Q3 2026, up 1.5% from Q3 2025, with updated guidance for 2026.
