STAG Industrial, Inc. reported its financial results for the first quarter of 2026, revealing a total revenue of $224.2 million, a 9.1% increase from $205.6 million in the same period last year. The growth was primarily driven by a rise in rental income, which reached $223.8 million, up from $205.4 million in the prior year. However, net income attributable to common stockholders decreased to $61.96 million, or $0.32 per share, compared to $91.34 million, or $0.49 per share, in the first quarter of 2025. This decline in profitability was attributed to a significant drop in gains from property sales, which fell from $49.9 million to $15.1 million year-over-year.
In terms of operational metrics, STAG Industrial's same-store rental income increased by 3.9% to $207.4 million, reflecting a 4.0% rise in lease income. The company reported a same-store occupancy rate of 96.6%, down from 97.8% a year earlier. The total number of buildings owned by the company remained stable at 601, with approximately 120.3 million rentable square feet across 41 states. The company also executed new leases and renewals totaling approximately $8.9 million during the quarter.
Strategically, STAG Industrial made notable acquisitions, including a single building in Kansas City, Missouri, for $80.7 million, adding 748,833 square feet to its portfolio. The company also sold one building during the quarter, generating net proceeds of approximately $29.6 million. The total cash used in investing activities surged to $92 million, up from $24.9 million in the previous year, primarily due to increased property acquisitions and a decrease in proceeds from property sales.
Financially, STAG Industrial's total liabilities decreased slightly to $3.52 billion from $3.54 billion at the end of 2025. The company maintained a strong liquidity position with approximately $805.7 million available, including $8.9 million in cash and $796.8 million in undrawn credit. The weighted average interest rate on its debt was reported at 4.42%, with a significant portion of its variable rate debt hedged through interest rate swaps. Looking ahead, the company anticipates challenges due to macroeconomic conditions, including rising interest rates and potential recession risks, which may impact its acquisition strategy and overall market performance.
About STAG Industrial, Inc.
Stag Industrial, Inc. is a REIT specializing in the acquisition, ownership, and operation of industrial properties across the U.S. The company manages a diversified portfolio of high-quality warehouses and distribution centers, serving a broad tenant base in key markets. Its business model emphasizes disciplined investment, asset management, and long-term cash flow growth through strategic acquisitions and operational efficiency.
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