STAG Industrial, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
February 13, 2024 at 04:06 pm EST
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STAG Industrial, Inc. reported earnings results for the fourth quarter ended December 31, 2023. For the fourth quarter, the company reported sales was USD 182.6 million compared to USD 170.04 million a year ago. Revenue was USD 183.31 million compared to USD 170.33 million a year ago.
Net income was USD 41.73 million compared to USD 29.79 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to USD 0.17 a year ago. Diluted earnings per share from continuing operations was USD 0.23 compared to USD 0.17 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. 
