Stag Industrial, Inc. (Stag): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de l'investissement immobilier industriel, Stag Industrial, Inc. se distingue comme une puissance stratégique, transformant la façon dont les entreprises abordent l'acquisition et la gestion des biens. En tirant parti d'une toile de modèle commercial sophistiqué qui équilibre des stratégies innovantes avec des principes financiers robustes, le cerf a sculpté un créneau unique sur le marché, offrant aux investisseurs et aux locataires une approche convaincante de l'investissement immobilier industriel. Leur modèle intègre parfaitement des portefeuilles de propriétés diversifiés, les accords de location à long terme et une stratégie d'investissement avant-gardiste qui promet la stabilité et la croissance potentielle du secteur immobilier industriel en constante évolution.

Stag Industrial, Inc. (Stag) - Modèle d'entreprise: partenariats clés

Brokers immobiliers industriels et sociétés de gestion immobilière

Stag Industrial s'associe à plusieurs sociétés de courtage immobilier nationales et régionales pour s'approvisionner dans les acquisitions de propriétés industrielles. Au quatrième trimestre 2023, le portefeuille de Stag comprenait 542 bâtiments dans 41 États, totalisant 111,3 millions de pieds carrés louables.

Type de partenaire	Nombre de partenariats actifs	Couverture géographique
Courtiers nationaux	12	37 États
Courtiers régionaux	24	4 États

Entrepreneurs de construction nationale et régionale

STAG collabore avec des entreprises de construction pour des projets de maintenance, de rénovation et de développement.

• Budget total de construction et de rénovation en 2023: 48,3 millions de dollars
• Nombre de partenaires de construction actifs: 37
• Valeur moyenne du projet: 1,2 million de dollars par projet

Institutions financières et partenaires d'investissement

STAG maintient des partenariats financiers stratégiques pour soutenir les stratégies de croissance et d'investissement.

Type de partenaire	Valeur d'investissement totale	Durée du partenariat
Facilités de crédit bancaire	750 millions de dollars	3-5 ans
Partenaires de capital-investissement	325 millions de dollars	En cours

Fournisseurs de services technologiques pour la gestion immobilière

Stag utilise des plateformes de technologie de pointe pour une gestion efficace de la gestion des propriétés et des services de locataires.

• Nombre de partenaires technologiques: 8
• Investissement technologique annuel: 4,7 millions de dollars
• Domaines de mise au point des technologies::
  • Suivi des actifs
  • Gestion des bails
  • Coordination de l'entretien

Consultants en durabilité et en efficacité énergétique

STAG s'associe à des experts en durabilité pour améliorer l'efficacité des propriétés et réduire l'impact environnemental.

Initiative de durabilité	Investissement	Cible de réduction du carbone
Mises à niveau de l'efficacité énergétique	22,6 millions de dollars	15% de réduction d'ici 2025
Projets d'installation solaire	16,4 millions de dollars	Capacité de 20 MW

Stag Industrial, Inc. (Stag) - Modèle d'entreprise: activités clés

Acquisition de propriétés immobilières industrielles et logistiques

Du trimestre 2023, Stag Industrial possédait 542 bâtiments dans 41 États, totalisant 111,4 millions de pieds carrés louables. Le volume d'acquisition total pour 2023 était de 672,4 millions de dollars, avec 45 propriétés achetées au cours de l'année.

Métrique d'acquisition	2023 données
Propriétés totales acquises	45
Valeur d'acquisition totale	672,4 millions de dollars
Pieds carrés louables totaux	111,4 millions

Gestion et optimisation du portefeuille de propriétés

STAG maintient un portefeuille diversifié avec une distribution géographique stratégique et un mélange de locataires.

• Taux d'occupation: 97,8% au quatrième trimestre 2023
• Terme de location du locataire moyen: 5,1 ans
• Terme de location restante moyenne pondérée: 6,5 ans

Location de location et gestion des relations

La base de locataires de Stag comprend 353 locataires dans diverses industries en 2023.

Secteur de l'industrie	Pourcentage de portefeuille
Fabrication	34.5%
Logistique / distribution	25.3%
Automobile	12.7%

Rénovation des actifs et amélioration de la valeur

En 2023, Stag a investi 57,3 millions de dollars dans l'amélioration des biens et les dépenses en capital.

• Projets de modernisation terminés: 22
• Mises à niveau de l'efficacité énergétique: 15 propriétés
• Améliorations des infrastructures technologiques: 18 propriétés

Investissement et développement immobiliers stratégiques

La stratégie d'investissement de Stag se concentre sur les propriétés industrielles uniques avec une taille de bâtiment moyenne de 205 000 pieds carrés.

Métrique d'investissement	Valeur 2023
Volume total d'investissement	672,4 millions de dollars
Prix ​​moyen d'acquisition de propriétés	14,9 millions de dollars
Taux de plafond moyen pondéré	7.2%

Stag Industrial, Inc. (Stag) - Modèle d'entreprise: Ressources clés

Portefeuille diversifié de propriétés industrielles

Au quatrième trimestre 2023, Stag Industrial possède 542 propriétés dans 41 États, totalisant 111,3 millions de pieds carrés louables. Distribution des propriétés industrielles par région:

Région	Nombre de propriétés	Pourcentage de portefeuille
Au sud-est	98	18.1%
Midwest	127	23.4%
Nord-est	112	20.7%

Capitaux financiers et facilités de crédit

Ressources financières au 31 décembre 2023:

• Capitalisation boursière totale: 6,2 milliards de dollars
• Créabilité de crédit non garanti: 1,25 milliard de dollars
• Taux d'intérêt moyen pondéré: 4,3%
• Ratio de capitalisation de la dette / totale: 49,7%

Équipe de gestion et d'investissement immobilier

Détails clés du leadership:

• Benjamin Butcher - Président et chef de la direction
• Total des employés: 214
• Expérience immobilière moyenne: 18 ans

Processus d'acquisition de propriétés

Mesures d'acquisition pour 2023:

• Acquisitions totales de propriétés: 53 propriétés
• Coût total d'acquisition: 734,2 millions de dollars
• Prix ​​moyen de l'acquisition de la propriété: 13,9 millions de dollars
• Taux d'occupation des propriétés acquises: 96,4%

Plates-formes technologiques

Investissements infrastructures technologiques:

• Budget technologique annuel: 4,2 millions de dollars
• Plateformes logicielles de gestion immobilière: 3 systèmes intégrés
• Investissement en cybersécurité: 1,1 million de dollars par an

Stag Industrial, Inc. (Stag) - Modèle d'entreprise: propositions de valeur

Revenu stable et prévisible des investissements immobiliers industriels

Depuis le quatrième trimestre 2023, le cerf industriel a rapporté un Fonds des opérations (FFO) de 0,57 $ par action. Le chiffre d'affaires total de l'année de la société était de 308,5 millions de dollars, avec un Revenu net de 114,3 millions de dollars.

Métrique financière	Valeur 2023
Revenus totaux	308,5 millions de dollars
Revenu net	114,3 millions de dollars
FFO par action	$0.57

Portefeuille de propriétés industrielles de haute qualité et bien située

Stag Industrial possède 568 bâtiments à travers 41 États, totalisant environ 112,5 millions de pieds carrés de l'immobilier industriel.

• Taille moyenne du bâtiment: 198 000 pieds carrés
• Taux d'occupation: 97,3%
• Terme de location moyenne pondérée: 5,3 ans

Accords de location à long terme avec des locataires sollicité

Catégorie des locataires	Pourcentage de portefeuille
Locataires de qualité investissement	28.5%
Locataires non-investisseurs	71.5%

Stratégie d'investissement immobilier diversifiée

Le portefeuille de propriétés de Stag est distribué sur divers sous-secteurs industriels:

• Fabrication: 36,2%
• Distribution: 29,8%
• Commerce électronique: 15,6%
• Transport: 8,4%
• Autre: 10%

Potentiel de distributions de dividendes cohérentes

Depuis 2023, le cerf a maintenu un rendement en dividende de 5,2%, avec des dividendes trimestriels de 0,385 $ par action.

Métrique du dividende	Valeur 2023
Rendement des dividendes	5.2%
Dividende trimestriel	0,385 $ par action
Dividende annuel	1,54 $ par action

Stag Industrial, Inc. (Stag) - Modèle d'entreprise: relations clients

Gestion directe de location de propriétés

Dès le quatrième trimestre 2023, STAG Industrial gère 542 propriétés industrielles dans 41 États, totalisant 111,4 millions de pieds carrés louables. Le portefeuille de la société comprend 389 propriétés multi-locataires et 153 propriétés multi-locataires.

Type de propriété	Nombre de propriétés	Total en pieds carrés
Propriétés de location unique	389	78,6 millions de pieds carrés
Propriétés multi-locataires	153	32,8 millions de pieds carrés

Communication et soutien proactifs aux locataires

Stag Industrial maintient un taux moyen de rétention des locataires de 73,4% en 2023, avec des équipes de gestion de compte dédiées fournissant un soutien personnalisé.

• Hotline de soutien aux locataires 24/7
• Portail de communication des locataires numériques
• Évaluations régulières des conditions de propriété

Structures de location personnalisées

La société propose des conditions de location flexibles avec une durée de location moyenne de 5,7 ans. Les structures de location comprennent:

Type de location	Pourcentage de portefeuille	Terme de location moyenne
Triple Net Laux	92%	6,2 ans
Baux bruts modifiés	8%	3,5 ans

Entretien et amélioration des biens réguliers

En 2023, Stag a investi 48,3 millions de dollars dans les améliorations et l'entretien des capitaux immobiliers à travers son portefeuille.

• Évaluations annuelles de l'état de la propriété
• Mises à niveau des infrastructures proactives
• Améliorations de l'efficacité énergétique

Représentations transparentes et relations avec les investisseurs

STAG fournit des rapports financiers trimestriels avec des mesures de performance immobilières détaillées. En 2023, la société maintient:

Métrique de rapport	Valeur
Taux d'occupation	97.8%
Fonds des opérations (FFO)	2,14 $ par action
Rendement des dividendes	4.6%

Stag Industrial, Inc. (Stag) - Modèle d'entreprise: canaux

Équipe de vente directe pour la location immobilière

Stag Industrial maintient une équipe de vente interne de 35 professionnels dédiés à la location immobilière et à l'acquisition des locataires au quatrième trimestre 2023. L'équipe couvre 38 États à travers les États-Unis.

Métrique de l'équipe de vente	2023 données
Représentants des ventes totales	35
Couverture géographique	38 États
Taille moyenne du portefeuille par représentant	12-15 propriétés

Plateformes d'inscription de propriétés en ligne

Stag utilise plusieurs plateformes numériques pour le marketing immobilier et la gestion des baux.

• Plate-forme de groupe de costar
• Loopnet Commercial Real Estate Marketplace
• Site Web propriétaire de l'entreprise: Stagnet.com

Réseaux de courtiers immobiliers industriels

STAG collabore avec 127 sociétés de courtage immobilier commerciales à l'échelle nationale en 2024.

Métriques du réseau de courtiers	2024 statistiques
Courtages en partenariat total	127
Taux de commission moyen	3-5%

Site Web de relations avec les investisseurs

Le site Web des relations avec les investisseurs de Stag (investisseurs.stagindustrial.com) fournit des informations financières complètes.

• Rapports annuels disponibles
• Présentations de bénéfices trimestriels
• Archives de classement de la SEC

Présentations de la conférence financière

Stag a participé à 18 conférences d'investisseurs en 2023, atteignant environ 250 investisseurs institutionnels.

Participation de la conférence	2023 données
Les conférences totales ont assisté	18
Les investisseurs institutionnels ont atteint	250

Stag Industrial, Inc. (Stag) - Modèle d'entreprise: segments de clients

Petites et moyennes entreprises industrielles

Depuis le quatrième trimestre 2023, Stag Industrial possède 542 bâtiments dans 41 États, avec un accent significatif sur les petites et moyennes entreprises industrielles. Le portefeuille représente 110,6 millions de pieds carrés louables.

Catégorie	Dénombrement des locataires	Pourcentage de portefeuille
Petites entreprises industrielles	367	67.7%
Entreprises industrielles moyennes	175	32.3%

Sociétés de logistique et de distribution

Le portefeuille de Stag comprend 89 propriétés logistiques et de distribution avec une durée de location moyenne de 5,4 ans.

• Valeur des propriétés logistiques totales: 1,8 milliard de dollars
• Taille moyenne des propriétés: 325 000 pieds carrés
• Taux d'occupation pour les propriétés logistiques: 96,7%

Entreprises de fabrication

Les locataires manufacturiers représentent 52% des revenus de location totaux du STAG en 2023.

Segment de fabrication	Nombre de locataires	Revenus de location annuels
Fabrication légère	214	287,5 millions de dollars
Fabrication lourde	103	156,3 millions de dollars

Centres de réalisation du commerce électronique

Depuis 2023, le STAG possède 37 propriétés du centre de réalisation du commerce électronique d'une valeur totale de 620 millions de dollars.

• Taille moyenne des propriétés: 275 000 pieds carrés
• Taux d'occupation du locataire du commerce électronique: 98,2%
• Terme de location moyenne pour les propriétés du commerce électronique: 6,1 ans

Locataires régionaux et nationaux d'entreprise

La base de locataires de Stag comprend 128 clients régionaux et nationaux d'entreprise dans diverses industries.

Type de locataire d'entreprise	Nombre de locataires	Pourcentage du portefeuille total
Locataires régionaux d'entreprise	87	68%
Locataires nationaux d'entreprise	41	32%

Stag Industrial, Inc. (Stag) - Modèle d'entreprise: Structure des coûts

Frais d'acquisition de biens

Au quatrième trimestre 2023, les frais d'acquisition de propriétés de STAG Industrial ont totalisé 220,7 millions de dollars. La société a acquis 40 propriétés industrielles au cours de l'année, avec un prix d'achat moyen de 5,52 millions de dollars par propriété.

Métrique	Montant
Total des frais d'acquisition	220,7 millions de dollars
Nombre de propriétés acquises	40
Prix ​​d'achat moyen de la propriété	5,52 millions de dollars

Coûts de maintenance et de rénovation des biens

Stag Industrial a déclaré des frais de maintenance des biens et de rénovation de 37,6 millions de dollars en 2023, ce qui représente environ 1,8% de la valeur totale du portefeuille.

• Coûts d'entretien de routine: 22,3 millions de dollars
• Projets de rénovation majeurs: 15,3 millions de dollars

Gestion et frais généraux administratifs

La direction et les frais généraux administratives de la société pour 2023 étaient de 46,2 millions de dollars, ce qui comprend:

Catégorie de dépenses	Montant
Rémunération des dirigeants	12,5 millions de dollars
Frais administratifs généraux	23,7 millions de dollars
Services professionnels	10,0 millions de dollars

Frais d'intérêt sur le financement de la dette

Les frais d'intérêt de Stag Industrial pour 2023 étaient de 107,3 ​​millions de dollars, avec un taux d'intérêt moyen de 4,65% sur la dette totale.

Métrique de la dette	Montant
Total des frais d'intérêt	107,3 ​​millions de dollars
Taux d'intérêt moyen	4.65%
Dette totale en circulation	2,31 milliards de dollars

Frais opérationnels et de conformité

Les dépenses opérationnelles et de conformité pour 2023 s'élevaient à 28,4 millions de dollars, notamment:

• Conformité réglementaire: 8,7 millions de dollars
• Coûts d'assurance: 12,6 millions de dollars
• Technologie et infrastructure: 7,1 millions de dollars

Stag Industrial, Inc. (Stag) - Modèle d'entreprise: Strots de revenus

Revenus locatifs des baux de propriété industrielle

Au quatrième trimestre 2023, STAF Industrial a déclaré un chiffre d'affaires total de location de 225,4 millions de dollars. La société possède 542 propriétés industrielles dans 41 États, avec une superficie totale en pieds carrés de 111,3 millions de pieds carrés.

Métrique	Valeur
Revenus de location annualisés	901,6 millions de dollars
Taux de location moyen	6,37 $ par pied carré
Taux d'occupation	98.3%

Appréciation des biens et amélioration de la valeur

En 2023, la valeur totale du portefeuille de propriété de Stag a augmenté à 8,1 milliards de dollars, représentant un Croissance de 3,2% en glissement annuel.

Renouvellement des locataires et expansion

• Taux de renouvellement de location en 2023: 74,7%
• Terme de location moyenne pondérée: 5,3 ans
• Taux de rétention des locataires: 68,9%

Ventes de propriétés et optimisation du portefeuille

En 2023, Stag a terminé les dispositions de biens totalisant 386,2 millions de dollars, avec un gain moyen en vente de 12,5%.

Métrique des ventes de propriétés	Montant
Propriétés totales vendues	37 propriétés
Procédé brut des ventes	386,2 millions de dollars
Prix ​​de vente moyen par propriété	10,4 millions de dollars

Revenu des dividendes pour les actionnaires

Le cerf a déclaré des dividendes totaux de 1,48 $ par action en 2023, représentant un Rendement cohérent de dividendes de 4,6%.

Métrique du dividende	Valeur
Dividende annuel par action	$1.48
Rendement des dividendes	4.6%
Paiements de dividendes totaux	183,6 millions de dollars

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.