STAG Industrial, Inc. (STAG): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la inversión inmobiliaria industrial, Stag Industrial, Inc. se destaca como una potencia estratégica, transformando la forma en que las empresas abordan la adquisición y gestión de la propiedad. Al aprovechar un sofisticado lienzo de modelo de negocio que equilibra estrategias innovadoras con principios financieros robustos, Stag ha tallado un nicho único en el mercado, ofreciendo a los inversores e inquilinos por igual un enfoque convincente para la inversión de propiedad industrial. Su modelo integra perfectamente las carteras de propiedades diversificadas, los contratos de arrendamiento a largo plazo y una estrategia de inversión con visión de futuro que promete estabilidad y crecimiento potencial en el sector inmobiliario industrial en constante evolución.

Stag Industrial, Inc. (Stag) - Modelo de negocios: asociaciones clave

Corredores de bienes raíces industriales y empresas de administración de propiedades

Stag Industrial se asocia con múltiples empresas de corretaje de bienes raíces nacionales y regionales para obtener adquisiciones de propiedad industrial. A partir del cuarto trimestre de 2023, la cartera de Stag consistía en 542 edificios en 41 estados, por un total de 111.3 millones de pies cuadrados alquilados.

Tipo de socio	Número de asociaciones activas	Cobertura geográfica
Corredores nacionales	12	37 estados
Corredores regionales	24	4 estados

Contratistas de construcción nacionales y regionales

Stag colabora con empresas de construcción para proyectos de mantenimiento de propiedades, renovación y desarrollo.

• Presupuesto total de construcción y renovación en 2023: $ 48.3 millones
• Número de socios de construcción activos: 37
• Valor promedio del proyecto: $ 1.2 millones por proyecto

Instituciones financieras y socios de inversión

Stag mantiene asociaciones financieras estratégicas para apoyar estrategias de crecimiento e inversión.

Tipo de socio	Valor de inversión total	Duración de la asociación
Facilidades de crédito bancario	$ 750 millones	3-5 años
Socios de capital privado	$ 325 millones	En curso

Proveedores de servicios de tecnología para administración de propiedades

Stag utiliza plataformas de tecnología avanzada para servicios de gestión de propiedades y inquilinos eficientes.

• Número de socios tecnológicos: 8
• Inversión tecnológica anual: $ 4.7 millones
• Áreas de enfoque de tecnología clave:
  • Seguimiento de activos
  • Gestión de arrendamiento
  • Coordinación de mantenimiento

Consultores de sostenibilidad y eficiencia energética

Stag se asocia con expertos en sostenibilidad para mejorar la eficiencia de la propiedad y reducir el impacto ambiental.

Iniciativa de sostenibilidad	Inversión	Objetivo de reducción de carbono
Actualizaciones de eficiencia energética	$ 22.6 millones	15% de reducción para 2025
Proyectos de instalación solar	$ 16.4 millones	Capacidad de 20 MW

Stag Industrial, Inc. (Stag) - Modelo de negocio: actividades clave

Adquisición de propiedades inmobiliarias industriales y logísticas

A partir del cuarto trimestre de 2023, Stag Industrial poseía 542 edificios en 41 estados, por un total de 111.4 millones de pies cuadrados alquilados. El volumen de adquisición total para 2023 fue de $ 672.4 millones, con 45 propiedades compradas durante el año.

Métrica de adquisición	2023 datos
Propiedades totales adquiridas	45
Valor de adquisición total	$ 672.4 millones
Pies cuadrados alquilados totales	111.4 millones

Gestión y optimización de la cartera de propiedades

Stag mantiene una cartera diversificada con distribución geográfica estratégica y mezcla de inquilinos.

• Tasa de ocupación: 97.8% a partir del cuarto trimestre 2023
• Término promedio de arrendamiento del inquilino: 5.1 años
• Término de arrendamiento promedio ponderado restante: 6.5 años

Gestión de arrendamiento y relación de inquilinos

La base de inquilinos de Stag incluye 353 inquilinos en varias industrias a partir de 2023.

Sector industrial	Porcentaje de cartera
Fabricación	34.5%
Logística/distribución	25.3%
Automotor	12.7%

Renovación de activos y mejora del valor

En 2023, Stag invirtió $ 57.3 millones en mejoras de propiedad y gastos de capital.

• Proyectos de modernización completados: 22
• Actualizaciones de eficiencia energética: 15 propiedades
• Mejoras de infraestructura tecnológica: 18 propiedades

Inversión y desarrollo de propiedades estratégicas

La estrategia de inversión de Stag se centra en propiedades industriales de un solo inquilino con un tamaño de edificio promedio de 205,000 pies cuadrados.

Métrico de inversión	Valor 2023
Volumen de inversión total	$ 672.4 millones
Precio promedio de adquisición de propiedades	$ 14.9 millones
Tasa de tapa promedio ponderada	7.2%

Stag Industrial, Inc. (Stag) - Modelo de negocio: recursos clave

Cartera diversa de propiedades industriales

A partir del cuarto trimestre de 2023, Stag Industrial posee 542 propiedades en 41 estados, por un total de 111.3 millones de pies cuadrados alquilados. Distribución de propiedad industrial por región:

Región	Número de propiedades	Porcentaje de cartera
Sudeste	98	18.1%
Medio oeste	127	23.4%
Nordeste	112	20.7%

Capital financiero y facilidades de crédito

Recursos financieros al 31 de diciembre de 2023:

• Capitalización de mercado total: $ 6.2 mil millones
• Facilidad de crédito no garantizada: $ 1.25 mil millones
• Tasa de interés promedio ponderada: 4.3%
• Relación de capitalización de deuda a total: 49.7%

Equipo de inversión de gestión e inmobiliario

Detalles clave del liderazgo:

• Benjamin Butcher - Presidente y CEO
• Total de empleados: 214
• Experiencia inmobiliaria promedio: 18 años

Procesos de adquisición de propiedades

Métricas de adquisición para 2023:

• Adquisiciones de propiedades totales: 53 propiedades
• Costo total de adquisición: $ 734.2 millones
• Precio promedio de adquisición de propiedades: $ 13.9 millones
• Tasa de ocupación de las propiedades adquiridas: 96.4%

Plataformas tecnológicas

Inversiones de infraestructura tecnológica:

• Presupuesto de tecnología anual: $ 4.2 millones
• Plataformas de software de administración de propiedades: 3 sistemas integrados
• Inversión de ciberseguridad: $ 1.1 millones anualmente

Stag Industrial, Inc. (Stag) - Modelo de negocio: propuestas de valor

Ingresos estables y predecibles de inversiones inmobiliarias industriales

A partir del cuarto trimestre de 2023, Stag Industrial informó un Fondos de Operaciones (FFO) de $ 0.57 por acción. Los ingresos totales de la compañía para el año fueron de $ 308.5 millones, con un Ingresos netos de $ 114.3 millones.

Métrica financiera	Valor 2023
Ingresos totales	$ 308.5 millones
Lngresos netos	$ 114.3 millones
FFO por acción	$0.57

Cartera de propiedad industrial de alta calidad y bien ubicada

Stag Industrial posee 568 edificios al otro lado de 41 estados, totalizando aproximadamente 112.5 millones de pies cuadrados de bienes raíces industriales.

• Tamaño promedio del edificio: 198,000 pies cuadrados
• Tasa de ocupación: 97.3%
• Término de arrendamiento promedio ponderado: 5.3 años

Contratos de arrendamiento a largo plazo con inquilinos solventes

Categoría de inquilino	Porcentaje de cartera
Inquilinos de grado de inversión	28.5%
Inquilinos de grado no de inversión	71.5%

Estrategia de inversión inmobiliaria diversificada

La cartera de propiedades de Stag se distribuye en varios subsectores industriales:

• Fabricación: 36.2%
• Distribución: 29.8%
• Comercio electrónico: 15.6%
• Transporte: 8.4%
• Otro: 10%

Potencial para distribuciones de dividendos consistentes

A partir de 2023, Stag mantuvo un rendimiento de dividendos del 5,2%, con dividendos trimestrales de $ 0.385 por acción.

Métrico de dividendos	Valor 2023
Rendimiento de dividendos	5.2%
Dividendo trimestral	$ 0.385 por acción
Dividendo anual	$ 1.54 por acción

Stag Industrial, Inc. (Stag) - Modelo de negocios: relaciones con los clientes

Gestión de arrendamiento de propiedades directas

A partir del cuarto trimestre de 2023, Stag Industrial administra 542 propiedades industriales en 41 estados, por un total de 111.4 millones de pies cuadrados alquilados. La cartera de la compañía incluye 389 propiedades de inquilino único y 153 múltiples.

Tipo de propiedad	Número de propiedades	Hoques cuadrados totales
Propiedades de un solo inquilino	389	78.6 millones de pies cuadrados
Propiedades de múltiples inquilinos	153	32.8 millones de pies cuadrados

Comunicación y apoyo proactivos de inquilinos

Stag Industrial mantiene una tasa de retención de inquilinos promedio del 73.4% a partir de 2023, con equipos dedicados de gestión de cuentas que brindan apoyo personalizado.

• Línea directa de soporte de inquilinos 24/7
• Portal de comunicación de inquilinos digitales
• Evaluaciones regulares de condición de propiedad

Estructuras de arrendamiento personalizadas

La compañía ofrece términos de arrendamiento flexibles con una duración promedio de arrendamiento de 5.7 años. Las estructuras de arrendamiento incluyen:

Tipo de arrendamiento	Porcentaje de cartera	Término de arrendamiento promedio
Arrendamientos de triple red	92%	6.2 años
Arrendamientos brutos modificados	8%	3.5 años

Mantenimiento y mejora regulares de la propiedad

En 2023, Stag invirtió $ 48.3 millones en mejoras y mantenimiento de capital de propiedad en su cartera.

• Evaluaciones anuales de condición de propiedad
• Actualizaciones de infraestructura proactiva
• Mejoras de eficiencia energética

Informes transparentes y relaciones con los inversores

Stag proporciona informes financieros trimestrales con métricas detalladas de rendimiento de la propiedad. A partir de 2023, la compañía mantiene:

Métrica de informes	Valor
Tasa de ocupación	97.8%
Fondos de Operaciones (FFO)	$ 2.14 por acción
Rendimiento de dividendos	4.6%

Stag Industrial, Inc. (Stag) - Modelo de negocio: canales

Equipo de ventas directas para arrendamiento de propiedades

Stag Industrial mantiene un equipo de ventas interno de 35 profesionales dedicados al arrendamiento de propiedades y la adquisición de inquilinos a partir del cuarto trimestre de 2023. El equipo cubre 38 estados en los Estados Unidos.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	35
Cobertura geográfica	38 estados
Tamaño promedio de la cartera por representante	12-15 propiedades

Plataformas de listado de propiedades en línea

Stag utiliza múltiples plataformas digitales para el marketing de propiedades y la gestión del arrendamiento.

• Plataforma de grupo de costo
• Mercado inmobiliario comercial de Loopnet
• Sitio web propietario de la empresa: stagnet.com

Redes de corredores de bienes raíces industriales

Stag colabora con 127 firmas de corretaje de bienes raíces comerciales en todo el país en 2024.

Broker Network Metrics	2024 estadísticas
Total de corredores de bolsa asociados	127
Tasa de comisión promedio	3-5%

Sitio web de relaciones con los inversores

El sitio web de Relaciones con Inversores de Stag (inversores.stagindustrial.com) proporciona información financiera integral.

• Informes anuales disponibles
• Presentaciones de ganancias trimestrales
• SEC Archivos de presentación

Presentaciones de conferencia financiera

Stag participó en 18 conferencias de inversores en 2023, alcanzando aproximadamente 250 inversores institucionales.

Participación de la conferencia	2023 datos
Conferencias totales a las que asistió	18
Los inversores institucionales llegaron	250

Stag Industrial, Inc. (Stag) - Modelo de negocio: segmentos de clientes

Empresas industriales pequeñas a medianas

A partir del cuarto trimestre de 2023, Stag Industrial posee 542 edificios en 41 estados, con un enfoque significativo en empresas industriales pequeñas a medianas. La cartera representa 110.6 millones de pies cuadrados rentables.

Categoría	Recuento de inquilinos	Porcentaje de cartera
Pequeñas empresas industriales	367	67.7%
Negocios industriales medianos	175	32.3%

Empresas de logística y distribución

La cartera de Stag incluye 89 propiedades de logística y distribución con un plazo de arrendamiento promedio de 5.4 años.

• Valor de propiedades de logística total: $ 1.8 mil millones
• Tamaño promedio de la propiedad: 325,000 pies cuadrados
• Tasa de ocupación para propiedades logísticas: 96.7%

Empresas de fabricación

Los inquilinos de fabricación representan el 52% de los ingresos por alquiler total de Stag en 2023.

Segmento de fabricación	Número de inquilinos	Ingresos anuales de alquiler
Fabricación de luz	214	$ 287.5 millones
Fabricación pesada	103	$ 156.3 millones

Centros de cumplimiento de comercio electrónico

A partir de 2023, Stag posee 37 propiedades del Centro de cumplimiento de comercio electrónico con un valor total de $ 620 millones.

• Tamaño promedio de la propiedad: 275,000 pies cuadrados
• Tasa de ocupación del inquilino de comercio electrónico: 98.2%
• Término de arrendamiento promedio para propiedades de comercio electrónico: 6.1 años

Inquilinos corporativos regionales y nacionales

La base de inquilinos de Stag incluye 128 clientes corporativos regionales y nacionales en varias industrias.

Tipo de inquilino corporativo	Número de inquilinos	Porcentaje de cartera total
Inquilinos corporativos regionales	87	68%
Inquilinos corporativos nacionales	41	32%

Stag Industrial, Inc. (Stag) - Modelo de negocio: Estructura de costos

Gastos de adquisición de propiedades

A partir del cuarto trimestre de 2023, los gastos de adquisición de propiedades de Stag Industrial totalizaron $ 220.7 millones. La compañía adquirió 40 propiedades industriales durante el año, con un precio de compra promedio de $ 5.52 millones por propiedad.

Métrico	Cantidad
Gastos de adquisición total	$ 220.7 millones
Número de propiedades adquiridas	40
Precio promedio de compra de propiedad	$ 5.52 millones

Costos de mantenimiento y renovación de la propiedad

Stag Industrial informó gastos de mantenimiento y renovación de la propiedad de $ 37.6 millones en 2023, lo que representa aproximadamente el 1.8% del valor total de la cartera.

• Costos de mantenimiento de rutina: $ 22.3 millones
• Proyectos de renovación importantes: $ 15.3 millones

Gestión y gastos generales administrativos

La gestión de la compañía y los gastos administrativos para 2023 fueron de $ 46.2 millones, lo que incluye:

Categoría de gastos	Cantidad
Compensación ejecutiva	$ 12.5 millones
Gastos administrativos generales	$ 23.7 millones
Servicios profesionales	$ 10.0 millones

Gastos de intereses sobre financiamiento de la deuda

Los gastos de interés de Stag Industrial para 2023 fueron de $ 107.3 millones, con una tasa de interés promedio de 4.65% sobre la deuda total.

Métrico de deuda	Cantidad
Gastos de intereses totales	$ 107.3 millones
Tasa de interés promedio	4.65%
Deuda total pendiente	$ 2.31 mil millones

Costos operativos y de cumplimiento

Los gastos operativos y de cumplimiento para 2023 ascendieron a $ 28.4 millones, que incluyen:

• Cumplimiento regulatorio: $ 8.7 millones
• Costos de seguro: $ 12.6 millones
• Tecnología e infraestructura: $ 7.1 millones

Stag Industrial, Inc. (Stag) - Modelo de negocios: flujos de ingresos

Ingresos de alquiler de arrendamientos de propiedad industrial

A partir del cuarto trimestre de 2023, Stag Industrial reportó ingresos por alquiler totales de $ 225.4 millones. La compañía posee 542 propiedades industriales en 41 estados, con un metro cuadrado total rentable de 111.3 millones de pies cuadrados.

Métrico	Valor
Ingresos de alquiler anualizados	$ 901.6 millones
Tasa de arrendamiento promedio	$ 6.37 por pie cuadrado
Tasa de ocupación	98.3%

Apreciación de la propiedad y mejora del valor

En 2023, el valor total de la cartera de propiedades de Stag aumentó a $ 8.1 mil millones, representando un 3.2% de crecimiento año tras año.

Renovación y expansión del arrendamiento del inquilino

• Tasa de renovación de arrendamiento en 2023: 74.7%
• Término de arrendamiento promedio ponderado: 5.3 años
• Tasa de retención de inquilinos: 68.9%

Ventas de propiedades y optimización de cartera

En 2023, Stag completó las disposiciones de la propiedad por un total de $ 386.2 millones, con una ganancia promedio a la venta del 12.5%.

Métrica de ventas de propiedades	Cantidad
Propiedades totales vendidas	37 propiedades
Ingresos brutos de las ventas	$ 386.2 millones
Precio de venta promedio por propiedad	$ 10.4 millones

Ingresos de dividendos para los accionistas

Stag declaró dividendos totales de $ 1.48 por acción en 2023, representando un rendimiento de dividendos consistente del 4.6%.

Métrico de dividendos	Valor
Dividendo anual por acción	$1.48
Rendimiento de dividendos	4.6%
Pagos de dividendos totales	$ 183.6 millones

STAG Industrial, Inc. (STAG) - Canvas Business Model: Value Propositions

You receive value from STAG Industrial, Inc. through a portfolio structure designed for income and stability in the industrial real estate sector.

Stable, predictable cash flow from long-term, single-tenant leases is supported by strong leasing metrics. For the third quarter of 2025, Same Store Cash Net Operating Income (NOI) grew 3.9% compared to the third quarter of 2024, reaching $145.7 million. Furthermore, for leases expiring in Q3 2025, retention was 63.4% for 2.5 million square feet. Looking ahead, the expected Cash Rent Change for 2026 new and renewal leasing is projected to be between 18% and 20%.

The portfolio offers significant diversification across geography, industry, and tenant credit quality. As of September 30, 2025, STAG Industrial, Inc.'s industrial portfolio spanned 601 buildings across 41 states. The company mitigates concentration risk, as its top market, Chicago, represented just 8.1% of the portfolio, and the largest tenant, Amazon, accounted for only 2.8%. Credit quality is also managed, with nearly one-third of tenants classified as investment grade.

You get direct exposure to high-growth e-commerce and logistics real estate demand. As of late 2025, STAG Industrial, Inc. owns industrial warehouse space where 31% is utilized by the growing e-commerce industry. The leasing momentum reflects this demand, with Cash Rent Change on Operating Portfolio leases commenced in Q3 2025 reaching 27.2%.

The high occupancy rate provides a solid foundation for cash flow, holding steady at 95.8% for the total portfolio as of September 30, 2025. The Operating Portfolio showed an even tighter occupancy of 96.8%.

The monthly dividend payments are definitely valuable for income investors. STAG Industrial, Inc. pays dividends every month. The annual dividend was $1.49 per share, translating to a yield around 3.8%. The company has a history of increasing these payments, having raised dividends for 7 consecutive years.

Here's a quick look at key portfolio statistics as of Q3 2025:

Metric	Value	As Of / Context
Total Portfolio Occupancy Rate	95.8%	September 30, 2025
Operating Portfolio Occupancy Rate	96.8%	September 30, 2025
Annual Dividend Per Share	$1.49	Trailing Twelve Months / Projected
Dividend Payout Frequency	Monthly	Standard Policy
E-commerce Related Space	31%	Portfolio Usage
Total Buildings in Portfolio	601	September 30, 2025

You benefit from the REIT's focus on core industrial assets, which translates into tangible operational performance metrics:

• Same Store Cash NOI growth in Q3 2025: 3.9%.
• Cash Rent Change on Q3 2025 Operating Portfolio Leases: 27.2%.
• Portfolio Diversification (Top Market Share): 8.1%.
• Investment Grade Tenant Percentage: Nearly one-third.
• Consecutive Years of Dividend Increases: 7.

The company's liquidity position also supports continued execution. Liquidity was reported at $904.1 million at quarter end.

STAG Industrial, Inc. (STAG) - Canvas Business Model: Customer Relationships

You're looking at how STAG Industrial, Inc. keeps its tenants happy and locked in, which is the core of any good real estate play. Their approach is very hands-on, which is key when you own single-tenant industrial properties. They run a full industrial real estate operating platform designed to handle every physical aspect and tenant scenario that comes up with property ownership. This means they have dedicated teams for this, like the REGIONAL ASSET MANAGEMENT group, which works with local brokers on all new and renewal leasing deals. Also, they have a CAPITAL PROJECTS GROUP to oversee all the physical requirements, including things like ESG initiatives. That's defintely a direct service touchpoint.

The relationship structure is built on simplicity for the tenant, primarily through long-term triple-net (NNN) leases. This structure generally means the tenant handles most property operating expenses, which streamlines responsibilities. As of September 30, 2025, STAG Industrial's portfolio spanned 601 buildings across 41 states, totaling 119.2 Million SF. This scale allows them to manage these relationships efficiently while maintaining that direct oversight.

Their proactive approach to lease management is quite clear when you look at the numbers. For the full year 2025 expirations, STAG Industrial had already addressed 98.7% of the expected new and renewal leasing by October 28, 2025. This covered a massive 14.0 million square feet of space. That kind of early engagement suggests they are not waiting until the last minute to talk renewal; they are managing that cycle well ahead of time.

STAG Industrial, Inc. focuses on established tenants to keep credit risk low. As per the latest available data, 31% of their tenants are rated as investment grade. This focus has paid off historically, as the company has incurred credit losses of less than 0.1% of its revenues since its IPO. They are also focused on single-tenant facilities, which means each relationship is critical to that building's occupancy.

Providing tailored real estate solutions is about fitting the building to the tenant's specific need, especially for mission-critical facilities. While the portfolio is largely warehouse/distribution, they also own light manufacturing space. This flexibility in asset type allows them to serve tenants requiring specialized layouts or infrastructure, which is a key part of securing those long-term commitments.

Here's a quick look at some key tenant and leasing statistics around the third quarter of 2025:

Metric	Value	Context/Date
Investment Grade Tenants	31%	Latest available data
2025 Leasing Addressed (as of Oct 28)	98.7%	Of expected 2025 leasing
Total Square Feet of 2025 Leasing Addressed	14.0 million SF	As of October 28, 2025
Q3 2025 Retention Rate	63.4%	For 2.5 million SF expiring in the quarter
Total Portfolio Buildings	601	As of September 30, 2025

You can see the relationship focus through their leasing success:

• Cash Rent Change on Q3 2025 Commenced Leases: 27.2%
• Straight-Line Rent Change on Q3 2025 Commenced Leases: 40.6%
• Weighted Average Lease Term (Q2 2025 context): 4.2 years
• Historical Cumulative Retention Since IPO: Approximately 73%

Finance: draft 13-week cash view by Friday.

STAG Industrial, Inc. (STAG) - Canvas Business Model: Channels

You're looking at how STAG Industrial, Inc. gets its properties, manages its tenants, and secures the capital to keep growing. It's all about the flow of assets and money, and the teams that manage those flows.

Internal acquisitions team for off-market and brokered property purchases

The internal acquisitions team is the engine for portfolio expansion. This team processes over 1,250+ transactions passing initial triage to source new industrial assets across the United States. As of the third quarter of 2025, STAG Industrial, Inc. owned 601 buildings spanning 41 states, totaling 119.2 million SF, with an Enterprise Value of $9.8 Billion. During the third quarter of 2025 alone, the company acquired 2 buildings totaling 1.0 million square feet for $101.5 million, achieving a Cash Capitalization Rate of 6.6%. Year-to-date stabilized acquisitions through Q3 2025 reached $212 million, with an additional $153 million under agreement to close before year-end. For the full year 2025, the expected acquisition volume guidance was narrowed to a range of $350 million to $500 million.

Direct leasing and internal asset management teams for tenant interaction

Direct interaction with tenants is managed by internal leasing and asset management functions, which are critical for maintaining high occupancy and driving rent growth. As of September 30, 2025, the total portfolio occupancy stood at 95.8%, with the Operating Portfolio occupancy at 96.8%. In the third quarter of 2025, STAG Industrial, Inc. commenced leases for 2.2 million square feet of space. This leasing activity resulted in a Cash Rent Change of 27.2% and a Straight-Line Rent Change of 40.6%. Tenant retention for Q3 2025 was 63.4% for the 2.5 million square feet of leases expiring in that quarter. The portfolio's Weighted Average Lease Term (WALT) as of Q3 '25 was 4.3 years, and the average rent was $5.79 per square foot. STAG Industrial, Inc.'s average lease size remains small relative to new supply, being less than 150k SF, with a median size around 110k SF.

Public equity markets (NYSE: STAG) for capital raising and investor access

Access to capital for property acquisition and balance sheet management flows through the public equity markets under the ticker NYSE: STAG. As of October 28, 2025, the company's market capitalization was $7.12B, with the stock trading at $38.12. Liquidity at the end of the third quarter of 2025 was robust at $904 million. The company actively manages its debt structure through these markets; in Q3 2025, STAG Industrial, Inc. refinanced $300 million of a term loan, extending its maturity to March 15, 2030. The Net Debt to Annualized Run-Rate Adjusted EBITDAre ratio was 5.1x at the end of Q3 2025, aligning with the guidance range of 5.00x - 5.50x.

Investor Relations team for communication with shareholders and analysts

The Investor Relations team serves as the primary channel for communicating financial performance and strategy to the investment community. STAG Industrial, Inc. is a member of the S&P Mid-Cap 400 index. The company released its Q3 2025 results on October 29, 2025, reporting Core FFO per diluted share of $0.65 for the quarter, an 8.3% increase year-over-year. Following this, the full-year 2025 Core FFO per share guidance was raised to a range of $2.52 to $2.55. Institutional investors and hedge funds own 88.67% of the company's stock. The company's Investor Presentation for Fall 2025 provided key metrics to this audience.

Commercial real estate brokers for property leasing and disposition

Commercial real estate brokers are utilized alongside internal teams for leasing and for executing the disposition side of capital recycling. In Q3 2025, STAG Industrial, Inc. sold 1 property comprising 100,000 square feet for gross proceeds of $6.1 million. Year-to-date, the company sold 3 buildings totaling 588,591 square feet for total gross proceeds of $82.2 million. The full-year 2025 disposition guidance was set between $100 million and $200 million. The internal teams also leverage local market expertise to execute value-add leasing projects, such as completing a full building lease for 243,642 square feet at a development project in Greer, South Carolina.

Metric Channel Focus	Key Data Point	Period/Date	Value/Amount
Acquisitions Team Volume	Total YTD Stabilized Acquisitions	Q3 2025 YTD	$212 million
Acquisitions Team Pipeline	Deals Under Agreement	As of Q3 2025	$153 million
Dispositions Team Proceeds	Total YTD Gross Proceeds	Q3 2025 YTD	$82.2 million
Internal Leasing Performance	Cash Rent Change on Leases Commenced	Q3 2025	27.2%
Internal Leasing Performance	Operating Portfolio Occupancy	September 30, 2025	96.8%
Capital Markets Access	Liquidity	End of Q3 2025	$904 million
Capital Markets Access	Market Capitalization	October 28, 2025	$7.12B
Investor Relations Output	FY2025 Core FFO/share Guidance (Raised)	Q3 2025 Update	$2.52-$2.55

STAG Industrial, Inc. (STAG) - Canvas Business Model: Customer Segments

You're looking at the core of STAG Industrial, Inc.'s (STAG) business-who exactly is paying the rent across their massive industrial footprint. Honestly, the customer base is defined by the sheer scale of their holdings and the quality they demand in their tenants.

STAG Industrial, Inc. primarily serves large and mid-sized companies needing warehouse and distribution space. This isn't about small storage units; it's about mission-critical facilities. As of September 30, 2025, the portfolio spanned 601 buildings across 41 states, covering 119.2 million square feet. The demand for this space remains high, evidenced by the operating portfolio occupancy holding strong at 96.8% as of the third quarter of 2025.

The tenant roster is heavily weighted toward sectors driving modern commerce. You'll find a significant concentration of tenants in e-commerce, logistics, and light manufacturing industries. Specifically, about 31% of STAG Industrial, Inc.'s warehouse and distribution space is dedicated to the growing e-commerce industry. This focus positions STAG Industrial, Inc. directly in the path of secular demand trends like reshoring and supply chain reconfiguration. The company also actively courts third-party logistics (3PL) providers and supply chain operators who require flexible, well-located facilities for their networks.

A key part of the STAG Industrial, Inc. strategy is ensuring tenant quality to maintain stable cash flow. They target creditworthy corporations. This focus on quality is quantified by their conservative approach to concentration risk. As of mid-2025, a major safeguard in their structure is that no single tenant exceeds 2.9% of base rent. Furthermore, nearly one-third of their tenants are investment grade, and a substantial portion of their tenant base has significant financial backing-for instance, 59% of tenants had revenues exceeding $1 billion based on prior reporting.

Finally, the customer segment isn't just the direct tenant; it's also the capital markets. STAG Industrial, Inc. attracts institutional and retail investors seeking stable, income-producing REIT shares. The appeal here is the reliable, monthly income stream and operational consistency. For example, the forward dividend yield was quoted around 3.8% in late 2025, while Core Funds From Operations (FFO) per diluted share showed an 8.3% increase year-over-year in Q3 2025, signaling strong operational profitability. The Equity Market Capitalization stood at approximately $6,727 million as of Winter 2025.

Here's a quick look at the operational metrics that define the quality of the tenancy:

Metric	Value (As of Late 2025 Data)	Reference Point
Total Buildings Owned	601	September 30, 2025
Total Square Footage	119.2 million SF	September 30, 2025
Operating Portfolio Occupancy	96.8%	September 30, 2025
Largest Tenant Concentration (Base Rent)	Less than 2.9%	Q2 2025 Data
E-commerce Industry Exposure	31% of Portfolio Space	Q3 2025 Context
Tenants with Revenue > $1 Billion	59%	Prior Reporting
Investment Grade Tenants	Nearly one-third	Winter 2025 Data

The leasing activity also speaks to the type of customer STAG Industrial, Inc. retains. For the third quarter of 2025, the company achieved a 75.3% retention rate for expiring leases, and year-to-date, they saw a Cash Rent Change of 23.9% on new and renewal leasing as of October 28, 2025. These numbers show customers are willing to pay significantly more to stay in STAG Industrial, Inc.'s facilities.

You can see the diversification strategy in action through the geographic spread, too. The top market, Chicago, only accounts for 8.1% of the portfolio. This de-risks the portfolio against localized economic shocks, which is a major selling point for the institutional investors you mentioned.

• Leases commenced in Q3 2025: 2.2 million square feet.
• Cash Rent Change on Q3 2025 Operating Leases: 27.2%.
• Weighted Average Lease Term (WALT) is a key factor for tenant stability.
• STAG Industrial, Inc. has a history of credit losses less than 0.1% of revenues since its IPO.

Finance: draft 13-week cash view by Friday.

STAG Industrial, Inc. (STAG) - Canvas Business Model: Cost Structure

The cost structure for STAG Industrial, Inc. (STAG) is heavily influenced by its debt load, corporate overhead, and the capital required to maintain and grow its industrial property portfolio.

Significant interest expense on debt is a major component, especially given the higher rate environment. For the second quarter of 2025, STAG Industrial reported interest expense of $33.6 million. This was an increase from $27.4 million reported in the second quarter of 2024.

General and administrative (G&A) expenses are managed at the corporate level. STAG Industrial guided G&A expenses for the full year 2025 to be between $52 million and $53 million. For context, the Selling, General & Administrative (SG&A) expenses for the twelve months ending September 30, 2025, were $0.051B, or $51 million.

Property operating expenses, which include taxes, insurance, and maintenance, are largely managed through the lease structure. STAG Industrial creates value by leasing properties to tenants on a triple-net lease basis, meaning the tenant takes care of these property-related expenditures. However, total operating expenses for the twelve months ending September 30, 2025, were reported at $0.518B, or $518 million.

Costs related to property acquisitions and ongoing capital needs are also key outflows. The company's disciplined acquisition strategy involves deploying capital into properties that are expected to generate a strong return over the all-in cost. Here's a look at some recent transaction and capital expenditure metrics:

Metric	Period/Context	Amount/Rate
Q2 2025 Acquisition Cost	One building in Chicago	$18.4 million
Q2 2025 Acquisition Cash Cap Rate	One building in Chicago	7.1%
Q3 2025 Acquisition Cost	Two buildings	$101.5 million
Q3 2025 Acquisition Cash Cap Rate	Two buildings	6.6%
Average Capital Expenditure (% of Cash NOI)	Past five years	7%

Capital expenditures for building improvements and tenant fit-outs are necessary to secure and maintain occupancy. STAG Industrial defines Acquisition Capital Expenditures as costs identified at the time of acquisition, which include new lease commissions and tenant improvements for previously unoccupied space. The company's calculation for Cash Available for Distribution specifically deducts capital expenditures, leasing commissions, and tenant improvements.

• Capital expenditure as a percentage of Cash NOI is guided to be approximately 7%.
• One example of a building improvement investment was approximately $4.8 million for building and site upgrades completed before January 2025.
• The company funded $550 million of senior unsecured notes in June 2025 at a weighted average interest rate of 5.65%.

Finance: draft 13-week cash view by Friday.

STAG Industrial, Inc. (STAG) - Canvas Business Model: Revenue Streams

The core of STAG Industrial, Inc. (STAG) revenue generation is rental income from long-term leases across its U.S. industrial property portfolio. This recurring revenue stream is the foundation of the Real Estate Investment Trust (REIT) structure.

As of September 30, 2025, the Trailing Twelve-Month (TTM) revenue for STAG Industrial stood at approximately $823.613 million. This reflects consistent top-line growth, with quarterly revenue also showing strength; for instance, Q2 2025 GAAP Revenue reached $207.6 million. The ability to command higher rents on new and renewal leases directly fuels this income.

You can see the key revenue metrics that underpin this stream:

Metric	Value/Period	Source Detail
Revenue (TTM as of 09/30/2025)	$823.613 million	Trailing Twelve Months
Revenue (Q2 2025 GAAP)	$207.6 million	Second Quarter 2025
Revenue (Q1 2025 GAAP)	$205.6 million	First Quarter 2025
Cash Rent Change (YTD 2025 Leasing)	26.1%	Year-to-date new and renewal leases
Straight-Line Rent Change (Q2 2025 Renewals/New)	41.1%	Second Quarter 2025 leasing activity

This pricing power is evident in leasing activity. For example, in Q2 2025, new and renewal leases covering 4.2 million square feet achieved a 24.6% average increase in cash rent.

Another critical component of rental income is the built-in contractual growth. STAG Industrial benefits from contractual rent escalators embedded in its leases. The weighted average rental escalator across the entire portfolio was reported at 2.9% in 2025. This rate contributes directly to organic revenue growth, as seen in the Same Store Cash NOI growth drivers.

Beyond base rent, STAG Industrial generates revenue through strategic capital recycling, which includes gains from strategic property dispositions. This is not a steady stream but provides lumpy, non-recurring income that can boost net income. For instance, in Q1 2025, STAG Industrial sold one building for $67.0 million, which resulted in a net gain of $49.9 million. The company projected a total disposition volume between $100 million and $200 million for the full year 2025.

Finally, the revenue structure also includes income derived from fees from unconsolidated partnerships and joint ventures, though specific dollar amounts for this component aren't as prominently detailed as the core rental or disposition figures in the latest reports you're looking at. This diversification of income sources helps support the overall financial profile.

You should keep an eye on these elements:

• Rental income from long-term leases is the primary revenue source.
• TTM revenue was $823.613 million as of September 30, 2025.
• Weighted average contractual rent escalator is ~2.9% in 2025.
• Q1 2025 disposition sale price was $67.0 million.
• Net gain on the Q1 2025 sale was $49.9 million.

Finance: draft 13-week cash view by Friday.