Stag Industrial, Inc. · NYSE:STAG
Stag Industrial — Corporate Update (2020)
9 slides from Stag Industrial's corporate update, 2020
Slide 1: 2020 – COVID-19 Update
2020 – COVID 19 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: STAG Industrial
GENERAL STAG Industrial is an owner and operator of industrial real estate Widely diversified portfolio across geography, tenancy, Historically strong balance industry, and lease maturity sheet with low leverage and Investment grade balance sheet with low leverage and approximately $755 million high
Slide 4: Acquisition & Disposition
ACQUISITION & DISPOSITION Have paused acquisition process going forward as market volatility remains elevated Q1 2020 disposition volume of approximately $101 million Acquired 1.6 million square feet across nine buildings for $120 million Capital allocation restraint Sold three buildings for $101 mi
Slide 5: Leasing Activity
LEASING ACTIVITY Continue to see normal level of leasing activity but expect longer transaction timeframes Elevated tenant demand from logistics, retailer, food products, and pharmaceuticals industries 19 prospects in the market looking at approximately 2.5 million SF of our current vacancy Portfoli
Slide 6: Rent Relief & Tenant Watchlist
RENT RELIEF & TENANT WATCHLIST RENT RELIEF Less than 5% of tenants have requested rent relief, equal to approximately 1% of ABR – ongoing discussions to understand financial situation and impact Rent relief generally temporary and expected to be a short-term deferral of base rent that is paid back o
Slide 7: Balance Sheet & Liquidity at March 31, 2020
BALANCE SHEET & LIQUIDITY AT MARCH 31, 2020 ESTIMATED LIQUIDITY Cash on balance sheet $330.5 million Forward equity proceeds $136.4 million Unused 1031 proceeds $13.5 million ESTIMATED LIQUIDITY EXCLUDING UNDRAWN REVOLVER BALANCE $480.4 million Undrawn revolver balance $275.0 million TOTAL ESTIMATED
Slide 8: 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 9: Non-GAAP Financial Measures & Other Definitions
NON-GAAP FINANCIAL MEASURES & OTHER DEFINITIONS Liquidity: We define Liquidity as the amount of aggregate undrawn nominal commitments the Company could immediately borrow under the Company’s unsecured debt instruments, consistent with the financial covenants, plus unrestricted cash balances. Locatio