Stag Industrial (STAG)
NYSE:STAG
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Stag Industrial
(NYSE:STAG)
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Rating:71Outperform
Price Target:
$42.00
â–²(5.66% Upside)
Action:ReiteratedDate:04/30/26
The score is driven mainly by solid fundamentals (steady growth and improving cash generation) and a constructive earnings update (maintained guidance, strong leasing spreads/volume, and Core FFO growth). Offsetting factors are balance-sheet leverage risk and only modest technical momentum, while valuation is less compelling due to a relatively high P/E despite a ~4% dividend yield.
Positive Factors
Stable cash generation
Consistent and improving operating cash flow and free cash flow provide durable internal funding for dividends, capex and development. This reduces reliance on volatile external capital, supports balance-sheet flexibility across cycles, and underpins the REIT's ability to execute acquisition and development plans over months.
Negative Factors
Rising leverage
A higher debt-to-equity ratio materially increases refinancing and interest-rate sensitivity for a capital-intensive REIT. Elevated leverage limits strategic optionality during market dislocations, raises costs of incremental acquisitions, and heightens risk if cap-rate moves or cash flow dips persist over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable cash generation
Consistent and improving operating cash flow and free cash flow provide durable internal funding for dividends, capex and development. This reduces reliance on volatile external capital, supports balance-sheet flexibility across cycles, and underpins the REIT's ability to execute acquisition and development plans over months.
Read all positive factors
Stag Industrial (STAG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.22B
Dividend Yield4.02%
Average Volume (3M)1.26M
Price to Earnings (P/E)27.8
Beta (1Y)0.51
Revenue Growth9.98%
EPS Growth-2.19%
CountryUS
Employees91
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)1.29
Shares Outstanding191,205,050
10 Day Avg. Volume908,922
30 Day Avg. Volume1,257,020
Financial Highlights & Ratios
PEG Ratio0.62
Price to Book (P/B)1.92
Price to Sales (P/S)8.17
P/FCF Ratio17.18
Enterprise Value/Market Cap1.45
Enterprise Value/Revenue12.09
Enterprise Value/Gross Profit19.57
Enterprise Value/Ebitda15.33
Forecast
1Y Price Target
$41.57Price Target Upside4.58% Upside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)1.02
Revenue Forecast (FY)$900.73M
Stag Industrial Business Overview & Revenue Model
Company Description
STAG Industrial, Inc. (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investmen...
How the Company Makes Money
STAG Industrial makes money primarily by owning industrial properties and leasing them to tenants. Its main revenue stream is rental income collected under lease agreements (typically long-term, single-tenant leases), which may include contractual...
Stag Industrial Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive operating and financial picture: strong leasing velocity (6.0M sq ft), healthy leasing spreads, Core FFO growth (+6.6%), ample liquidity ($806M), a growing $3.9B pipeline, and solid development yields (7.1% stabilized, 7.4% yield on cost for the Dallas site). Headwinds were modest and largely tactical — occupancy pressures from late-quarter nonrenewals (expected to trough in Q2), near-term lease-up timing (9–12 months), slightly sub-midpoint retention (69.5%) and a few softer local markets (San Diego, Memphis, Pittsburgh). Management maintained full-year guidance across key metrics, signaling confidence. Overall, positive operational momentum and balance-sheet strength outweigh the transitory occupancy and market nuances.Positive Updates
Core FFO Growth
Core FFO per share of $0.65 for Q1 2026, an increase of 6.6% year-over-year.
Negative Updates
Occupancy Decline / Lease-Up Timing
Q1 experienced occupancy headwinds: same-store results included ~60 basis points of average occupancy loss while period-end occupancy loss was ~120 basis points. Company budgets assume 9–12 months to lease-up vacated assets and expects trough occupancy in Q2 with recovery in H2 2026.
Read all updates
Q1-2026 Updates
Positive
Negative
Core FFO Growth
Core FFO per share of $0.65 for Q1 2026, an increase of 6.6% year-over-year.
Read all positive updates
Company Guidance
STAG said it is maintaining its 2026 guidance and highlighted supporting Q1 metrics: core FFO per share $0.65 (+6.6% YoY); net debt to annualized run‑rate adjusted EBITDA ~5x; liquidity $806M; 37 leases totaling 6.0M sq ft with cash and straight‑line leasing spreads of 20.9% and 39.6%; Q1 retention 69.5% (guidance 70–80%) and 79% of forecasted 2026 leasing already addressed; company still expects cash leasing spreads of 18–20% for the year, same‑store cash NOI growth around a ~3% midpoint (Q1 was +4.1%), market rent growth guidance 0–2%, weighted average escalator 2.9% (new leases ~3–3.5%), expected same‑store occupancy ~96.5% with a Q2 trough and 9–12 month lease‑up assumption, a development pipeline of 7 buildings/1.8M sq ft (stabilized yield 7.1%), a $3.9B transaction pipeline, and an anticipated market vacancy peak soon with an inflection in H2 2026.Stag Industrial Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 863.82M | 845.18M | 767.38M | 707.84M | 657.35M | 562.16M |
| Gross Profit | 533.43M | 518.44M | 612.56M | 568.24M | 531.64M | 454.17M |
| EBITDA | 681.05M | 718.24M | 599.51M | 570.22M | 535.29M | 500.67M |
| Net Income | 244.08M | 273.48M | 189.22M | 192.84M | 178.33M | 192.33M |
Balance Sheet | ||||||
| Total Assets | 7.18B | 7.21B | 6.83B | 6.28B | 6.18B | 5.83B |
| Cash, Cash Equivalents and Short-Term Investments | 8.86M | 14.91M | 36.28M | 20.74M | 25.88M | 18.98M |
| Total Debt | 3.23B | 3.29B | 3.06B | 2.66B | 2.53B | 2.25B |
| Total Liabilities | 3.52B | 3.54B | 3.30B | 2.84B | 2.73B | 2.44B |
| Stockholders Equity | 3.59B | 3.60B | 3.46B | 3.37B | 3.38B | 3.33B |
Cash Flow | ||||||
| Free Cash Flow | 401.36M | 401.81M | 375.06M | 372.63M | 335.22M | 175.77M |
| Operating Cash Flow | 477.29M | 463.39M | 460.29M | 391.09M | 387.93M | 336.15M |
| Investing Cash Flow | -564.39M | -497.30M | -731.06M | -320.35M | -447.52M | -1.22B |
| Financing Cash Flow | 78.20M | 97.40M | 286.29M | -75.67M | 63.19M | 887.12M |
Stag Industrial Technical Analysis
Positive
39.75
Price Trends
37.80
Positive
37.56
Positive
36.58
Positive
Market Momentum
0.43
Negative
70.38
Negative
93.57
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For STAG, the sentiment is Positive. The current price of 39.75 is above the 20-day moving average (MA) of 37.09, above the 50-day MA of 37.80, and above the 200-day MA of 36.58, indicating a bullish trend. The MACD of 0.43 indicates Negative momentum. The RSI at 70.38 is Negative, neither overbought nor oversold. The STOCH value of 93.57 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for STAG.
Stag Industrial Risk Analysis
Stag Industrial disclosed 48 risk factors in its most recent earnings report. Stag Industrial reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Stag Industrial Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $8.37B | 13.39 | 12.77% | 2.98% | 8.82% | 28.07% | |
75 Outperform | $10.66B | 26.14 | 8.37% | 3.15% | 11.31% | 20.09% | |
75 Outperform | $6.86B | 9.61 | 10.09% | 3.38% | 24.51% | 104.06% | |
71 Outperform | $7.22B | 27.77 | 6.95% | 4.02% | 9.98% | -2.19% | |
67 Neutral | $2.98B | -2,814.46 | 4.61% | 5.33% | -3.81% | 52.53% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $7.93B | 20.49 | 2.71% | 4.30% | 2.02% | -23.68% |
* Real Estate Sector Average
STAG
Stag Industrial
37.76
5.81
18.17%
EGP
Eastgroup Properties
198.34
38.66
24.21%
TRNO
Terreno Realty
64.55
10.11
18.58%
FR
First Industrial Realty
61.06
14.13
30.10%
LXP
LXP Industrial Trust
50.62
13.11
34.94%
REXR
Rexford Industrial Realty
35.14
3.00
9.32%
Stag Industrial Corporate Events
Business Operations and StrategyShareholder Meetings
STAG Industrial Shareholders Endorse Board, Pay and Auditor
Positive
Apr 29, 2026
On April 27, 2026, STAG Industrial held its annual meeting of stockholders, where investors voted on the election of 11 directors, ratification of PricewaterhouseCoopers LLP as independent auditor for 2026, and approval of executive compensation. ...
Business Operations and StrategyPrivate Placements and Financing
Stag Industrial Expands ATM Equity Distribution With Huntington
Positive
Feb 12, 2026
On February 12, 2026, STAG Industrial, Inc. and its operating partnership entered into an additional equity distribution agreement with Huntington Securities, Inc. as sales agent, forward seller and/or forward purchaser, expanding the bank syndica...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.