STAG Industrial, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 27, 2022 at 04:07 pm EDT
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STAG Industrial, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 161.06 million compared to USD 137.81 million a year ago. Revenue was USD 161.5 million compared to USD 138.43 million a year ago. Net income was USD 32.38 million compared to USD 32.65 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.2 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to USD 0.2 a year ago.
For the six months, sales was USD 319.66 million compared to USD 271.63 million a year ago. Revenue was USD 320.71 million compared to USD 272.42 million a year ago. Net income was USD 85.2 million compared to USD 57.53 million a year ago. Basic earnings per share from continuing operations was USD 0.48 compared to USD 0.34 a year ago. Diluted earnings per share from continuing operations was USD 0.48 compared to USD 0.33 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. 
