STAG Industrial, Inc. (STAG)

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STAG Industrial, Inc.

STAG • CIK 0001479094

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Operating Lease, Lease Income	$705,160	$762,892	$843,009	$861,495
Other Operating Income	$2,675	$4,492	$2,175	$2,322
Revenues	$707,835	$767,384	$845,184	$863,817
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$197,201	$193,266	$279,270	$249,222
Net Income (Loss) Attributable to Noncontrolling Interest	$4,356	$4,046	$5,751	$5,102
Net Income (Loss) Attributable to Parent	$192,845	$189,220	$273,519	$244,120
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	$212	$182	$169	$149
Net Income (Loss) Available to Common Stockholders, Basic	$192,633	$189,038	$273,350	$243,971
Weighted Average Number of Shares Outstanding, Basic	180,221,000	182,160,000	186,844,000	191,372,000
Weighted Average Number of Shares Outstanding, Diluted	180,555,000	182,404,000	187,174,000	191,654,000
Direct Costs of Leased and Rented Property or Equipment	$139,596	$154,828	$171,825	$175,463
General and Administrative Expense	$47,491	$49,202	$51,933	$52,482
Depreciation, Depletion and Amortization, Nonproduction	$278,447	$293,077	$301,797	$306,491
Asset Impairment Charges	$0	$4,967	$888	$888
Other Expenses	$4,693	$2,332	$1,798	$1,664
Costs and Expenses	$470,227	$504,406	$528,241	$536,988
Interest and Other Income	$68	$44	$385	$476
InterestExpenseNonoperating	—	—	$132,160	$135,516
Gain (Loss) on Extinguishment of Debt	$0	$-703	$-1,503	$-1,503
Other Nonrecurring Gain	—	$11,843	$1,855	$1,855
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	$54,100	$32,273	$93,750	$58,936
Nonoperating Income (Expense)	$-40,407	$-69,712	$-37,673	$-77,607
Incremental Common Shares Attributable to Participating Nonvested Shares with Non-forfeitable Dividend Rights	142,875	122,454	113,207	113,207
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	2,000	0	0	1,000

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Cash Equivalents, at Carrying Value	$20,741	$36,284	$14,910	$8,856
Restricted Cash and Cash Equivalents	$1,127	$1,109	$85,973	$30,298
Accounts Receivable, after Allowance for Credit Loss	$128,274	$136,357	$156,458	$161,353
Prepaid Expense and Other Assets	$80,455	$96,189	$104,484	$111,143
Derivative Asset	$50,418	$36,466	$13,529	$15,578
Operating Lease, Right-of-Use Asset	$29,566	$31,151	$32,708	$32,155
Assets	$6,283,458	$6,833,335	$7,208,069	$7,183,566
Land	$698,633	$771,794	$811,569	$815,587
Investment Building and Building Improvements	$4,838,522	$5,295,120	$5,593,471	$5,617,747
Intangible Assets, Net (Excluding Goodwill)	$435,722	$428,865	$394,967	$383,337
Real Estate Investment Property, Net	$5,972,877	$6,495,779	$6,800,007	$6,816,671
Long-term Line of Credit	$402,000	$409,000	$262,000	$200,000
Loans Payable	$1,021,773	$1,021,848	$1,021,341	$1,021,630
Notes Payable	$1,195,872	$1,594,092	$1,966,994	$1,967,381
Secured Debt	$4,401	$4,195	$3,980	$3,926
Accounts Payable and Accrued Liabilities	$83,152	$126,811	$135,397	$127,629
Derivative Liability	—	—	$1,310	$460
Customer Advances and Deposits	$44,238	$56,173	$59,225	$62,546
Dividends Payable	$22,726	$23,469	$24,187	$75,631
Below Market Lease, Net	$29,908	$33,335	$25,566	$23,597
Operating Lease, Liability	$33,577	$35,304	$37,040	$36,542
Liabilities	$2,837,647	$3,304,227	$3,537,040	$3,519,342
Preferred Stock, Value, Issued	$0	$0	$0	$0
Common Stock, Value, Issued	$1,817	$1,865	$1,910	$1,912
Additional Paid in Capital	$4,272,376	$4,449,964	$4,616,888	$4,616,147
Retained Earnings (Accumulated Deficit)	$-948,720	$-1,029,757	$-1,034,954	$-1,047,089
Accumulated Other Comprehensive Income (Loss), Net of Tax	$49,207	$35,579	$11,853	$14,697
Stockholders' Equity Attributable to Parent	$3,374,680	$3,457,651	$3,595,697	$3,585,667
Noncontrolling Interest in Operating Partnerships	—	$69,932	$71,342	$74,567
Noncontrolling Interest in Joint Ventures	—	$1,525	$3,990	$3,990
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$3,445,811	$3,529,108	$3,671,029	$3,664,224
Real Estate Investment Property, Accumulated Depreciation	$921,846	$1,085,866	$1,119,931	$1,165,447
Finite-Lived Intangible Assets, Accumulated Amortization	$360,094	$386,627	$425,502	$444,797
Below Market Lease, Accumulated Amortization	$26,613	$31,368	$34,098	$35,894
Preferred Stock, Shares Authorized	20,000,000	20,000,000	20,000,000	20,000,000
Preferred Stock, Shares Issued	0	0	0	0
Common Stock, Shares Authorized	300,000,000	300,000,000	300,000,000	300,000,000
Common Stock, Shares, Issued	181,690,867	186,517,523	191,005,261	191,201,600

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$197,201	$193,266	$279,270	$249,222
Net Cash Provided by (Used in) Operating Activities	$391,092	$460,292	$463,388	$477,288
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$-4,921	$15,525	$63,490	$-8,899
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$21,868	$37,393	$100,883	$91,984
Depreciation, Depletion and Amortization	$278,447	$293,077	$301,797	$306,491
Payments to Acquire Commercial Real Estate	$303,991	$624,722	$398,417	$431,160
Asset Impairment Charges	$0	$4,967	$888	$888
Payments for Capital Improvements	$107,856	$150,445	$204,517	$199,518
Payments to Acquire Other Receivables	$0	$243	$167	$167
Paid-in-Kind Interest	$3,905	$4,506	$5,421	$5,491
Amortization of above and below Market Leases	$-887	$-602	$-2,538	$-2,463
Proceeds from Sale of Buildings	$105,602	$126,479	$164,235	$129,974
Straight Line Rent	$16,648	$14,447	$19,432	$21,792
Payments for (Proceeds from) Other Investing Activities	$-511	$0	$0	$0
Gain (Loss) on Extinguishment of Debt, before Write off of Debt Issuance Cost	$0	$-36	$-30	$-30
Payments for (Proceeds from) Deposits on Real Estate Acquisitions	$-3,850	$450	$350	$350
Gain (Loss) on Disposition of Property Plant Equipment	$54,100	$32,273	$93,750	$58,936
Payments to Acquire Intangible Assets	$18,462	$81,677	$58,086	$63,171
Share-based Payment Arrangement, Noncash Expense	$11,486	$11,740	$12,719	$13,001
Net Cash Provided by (Used in) Investing Activities	$-320,346	$-731,058	$-497,302	$-564,392
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities	$193,891	$267,026	$184,118	$228,066
Proceeds from Unsecured Lines of Credit	$1,167,000	$1,976,000	$1,394,000	$1,073,000
Repayments of Lines of Credit	$940,000	$1,969,000	$1,541,000	$1,385,000
Proceeds from Issuance of Other Long-term Debt	$0	$0	$55,000	$55,000
Proceeds from Unsecured Notes Payable	$0	$450,000	$550,000	$550,000
Repayments of Unsecured Debt	$100,000	$50,000	$175,000	$175,000
Repayments of Secured Debt	$3,503	$215	$223	$225
Payments of Financing Costs	$270	$12,456	$4,908	$4,903
Payments of Dividends	$267,567	$274,920	$283,971	$237,286
Proceeds from Issuance of Common Stock	$69,485	$167,278	$156,690	$156,690
Payment, Tax Withholding, Share-based Payment Arrangement	$812	$1,047	$649	$644
Proceeds from (Payments to) Noncontrolling Interests	—	$651	$2,465	$1,591
Net Cash Provided by (Used in) Financing Activities	$-75,667	$286,291	$97,404	$78,205
Interest Paid, Excluding Capitalized Interest, Operating Activities	$89,979	$108,817	$127,684	$123,150
Noncash or Part Noncash Acquisition, Fixed Assets Acquired	$66	$3,330	$780	$780
Noncash or Part Noncash Acquisition, Intangible Assets Acquired	$6	$357	$129	$71
Share-based Payment Arrangement, Amount Capitalized	$92	$205	$266	$307
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	$30	$563	$296	$305
Noncash or Part Noncash Acquisition, Investments Acquired	—	$874	$0	$0
Dividends Payable	$22,726	$23,469	$24,187	$76,150
Increase (Decrease) in Accounts Receivable	$-1,915	$-4,607	$-1,156	$-3,306
Increase (Decrease) in Prepaid Expense and Other Assets	$23,870	$27,425	$28,018	$31,495
Increase (Decrease) in Accounts Payable and Accrued Liabilities	$-9,237	$22,748	$4,648	$11,319
Increase (Decrease) in Customer Advances and Deposits	$2,880	$11,935	$3,052	$2,226
Interest Paid, Capitalized, Investing Activities	$2,600	$2,268	$3,612	$3,656

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Import this data to Google Sheets with:

=jivedata("STAG","financials")

Full statements spill as a table. For one cell: =jivedata("STAG","Revenue") or =jivedata("STAG","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.