Stag Industrial, Inc. · NYSE:STAG
Stag Industrial — NAREIT Update June 2023
11 slides from Stag Industrial's conference presentation, June 2023
Slide 1: STAG Industrial NAREIT Update – June 2023
STAG INDUSTRIAL NAREIT UPDATE – JUNE 2023
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: Portfolio Growth & Quality
PORTFOLIO GROWTH & QUALITY IPO Era 1 Q4 2015 TODAY 2 Portfolio Sq. Ft. (millions) 14.2 54.7 111.6 Properties 93 291 561 Portfolio Growth Number of states 26 38 41 IPO Era Q4 2015 TODAY Prim. and sec. market exp. by % ABR 74.1% 87.6% 96.5% Flex/office exposure (% of ABR) 21.1% 3.9% 0.1% Portfolio Qua
Slide 4: Portfolio Optimization & Balance Sheet
PORTFOLIO OPTIMIZATION & BALANCE SHEET IPO Era 1 Q4 2015 TODAY 2 WA portfolio escalators 1.25% ~ 1.75% > 2.50% Cash Rent Change 4.7% 1.6% ~ 30% Internal Growth Straight-Line Rent Change 6.1% 7.1% > 35% Optimization Same Store Cash NOI growth No 0.6% ~ 5.0% Growth IPO Era Q4 2015 TODAY Equity Market
Slide 5: Building Blocks of Growth
BUILDING BLOCKS OF GROWTH HISTORICAL TREND 2023 GUIDANCE NOTES Average Same Store Cash NOI growth of ~2% over past Same Store Cash NOI growth of 4.75% - 5.25% Expect recent Same Store Cash NOI growth to be eight years • Retention range of 65 – 75% sustainable, driven by increase in rental escalators
Slide 6: Multi-Faceted Approach to Creating Value
MULTI-FACETED APPROACH TO CREATING VALUE VALUE-ADD ACTIVITY, EXPANSION, AND DEVELOPMENT STAG completed more Value-Add & Development projects since 2020 than it did from IPO to 2019 20+ value-add leasing projects identified and ~ 20 building expansion projects identified & Three successful developmen
Slide 7: Impact of Pandemic on Ecommerce Activity and Supply Chain Configuration
IMPACT OF PANDEMIC ON ECOMMERCE ACTIVITY AND SUPPLY CHAIN CONFIGURATION E-commerce and supply ~31% of STAG’s portfolio handles chain reconfiguration Accelerating re-shoring and near-shoring e-commerce activity (1) providing secular trends continue to drive domestic demand drivers warehouse space dem
Slide 8: Leasing & Portfolio Update
LEASING & PORTFOLIO UPDATE Q1 2023 Same Store Cash NOI growth of 5.9% 2023 Same Store Cash NOI guidance range of 4.75% - 5.25% 1 As of May 25, 2023, 86.1% of expected 2023 new and renewal leasing has been addressed, consisting of 11.3 million square feet, achieving Cash Rent Change of 30.0%. Shorter
Slide 9: Balance Sheet & Liquidity Update
BALANCE SHEET & LIQUIDITY UPDATE ESTIMATED LIQUIDITY AS OF MAY 25, 2023 Cash on balance sheet $21.2 million ESTIMATED LIQUIDITY EXCLUDING UNDRAWN REVOLVER BALANCE $21.2 million Undrawn revolver balance $762.7 million TOTAL ESTIMATED LIQUIDITY AS OF MAY 25, 2023 $783.9 million Net Debt to Annualized
Slide 10: Appendix
INDUSTRIAL APPENDIX
Slide 11: Non-GAAP Reconciliations
NON-GAAP RECONCILIATIONS (in thousands) Twelve months ended June 30, 2012 1 Twelve months ended December 31, 2015 Cash Available For Distribution Reconciliation Net loss $ (6,218) $ (29,345) Rental property depreciation and amortization 34,478 110,421 Loss on impairments 622 29,272 Gain on the sales