Stag Industrial, Inc. · NYSE:STAG
Stag Industrial — 2021 Spring Conference Update
10 slides from Stag Industrial's conference presentation, 2021
Slide 1: 2021 Spring Conference Update
2021 SPRING CONFERENCE UPDATE
Slide 2: Forward-Looking Statements & Definitions
FORWARD-LOOKING STATEMENTS & DEFINITIONS Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. STAG Industrial, Inc. (ST
Slide 3: Leasing & Portfolio Update
LEASING & PORTFOLIO UPDATE 2021 rental collection consistent with 2020 - Collected 99.6% of base rental billings in 2020 No large known-move outs in 2021 - Successfully navigated two 1 million square foot known-vacate situations in 2020 2021 cash same store growth guidance range of 2% - 3% - Highest
Slide 4: Acquisition Update
ACQUISITION UPDATE 2021 acquisition volume guidance range of $800 million to $1.2 billion - Acquired $579.9 million in Q4 2020, the largest quarterly acquisition volume in Company history - $2.1 billion acquisition pipeline - Highest level of acquisition volume guidance provided in Company’s history
Slide 5: Balance Sheet & Liquidity Update
BALANCE SHEET & LIQUIDITY UPDATE ESTIMATED LIQUIDITY AS OF FEBRUARY 22, 2021 Cash on balance sheet $26.6 million Forward equity proceeds $138.5 million ESTIMATED LIQUIDITY EXCLUDING UNDRAWN REVOLVER BALANCE $165.1 million Undrawn revolver balance $565.0 million TOTAL ESTIMATED LIQUIDITY AS OF FEBRUA
Slide 6: Building Blocks of Growth
BUILDING BLOCKS OF GROWTH NORMALIZED EXPECTATIONS OVER HISTORICAL TREND 2021 GUIDANCE NOTES NEXT FIVE YEARS Average cash same store NOI Cash same store NOI growth of 2.0% - 3.0% Cash same store NOI growth of 2.0% - Highest level of initial guidance growth of ~1.0% over past six • Retention range of
Slide 7: Non-GAAP Financial Measures & Other Definitions
NON-GAAP FINANCIAL MEASURES & OTHER DEFINITIONS Acquisition Capital Expenditures: We define Acquisition Capital Expenditures as Recurring and Non-Recurring Capital Expenditures identified at the time of acquisition. Acquisition Capital Expenditures also include new lease commissions and tenant impro
Slide 8: Non-GAAP Financial Measures & Other Definitions
NON-GAAP FINANCIAL MEASURES & OTHER DEFINITIONS We define Annualized Adjusted EBITDAre as Adjusted EBITDAre multiplied by four. We define Run Rate Adjusted EBITDAre as Adjusted EBITDAre plus incremental Adjusted EBITDAre adjusted for a full period of acquisitions and dispositions. Run Rate Adjusted
Slide 9: Non-GAAP Financial Measures & Other Definitions
NON-GAAP FINANCIAL MEASURES & OTHER DEFINITIONS Market: We define Market as the market defined by CoStar based on the building address. If the building is located outside of a CoStar defined market, the city and state is reflected. Net operating income (NOI), Cash NOI, and Run Rate Cash NOI: We defi
Slide 10: Non-GAAP Financial Measures & Other Definitions
NON-GAAP FINANCIAL MEASURES & OTHER DEFINITIONS Renewal Lease: We define a Renewal Lease as a lease signed by an existing tenant to extend the term for 12 months or more, including (i) a renewal of the same space as the current lease at lease expiration, (ii) a renewal of only a portion of the curre