Increased Core FFO Guidance
STAG Industrial increased its core FFO guidance for the year to a range of $2.52 to $2.54 per share, a $0.03 increase at the midpoint due to year-to-date results exceeding internal projections.
Leasing Success
The company accomplished 99% of its forecasted leasing for 2025 with cash leasing spreads of approximately 24%. For 2026, 52% of the operating portfolio square feet expected to lease have been addressed, showing tenant engagement.
Development Platform Growth
STAG has 3.4 million square feet of development activity, with completed developments being 83% leased as of September 30. A new build-to-suit project in Union, Ohio is scheduled for completion in Q3 2026 with a stabilized yield of 7%.
Strong Leasing Activity
The company commenced 22 leases totaling 2.2 million square feet in Q3, generating cash and straight-line leasing spreads of 27.2% and 40.6%, respectively.
Improved Acquisition Opportunities
Acquisition volume for the third quarter totaled $101.5 million, and $153 million more is under agreement to close by year-end.