Stag Industrial, Inc. · NYSE:STAG
Stag Industrial — NAREIT 2020 Update
9 slides from Stag Industrial's conference presentation, June 2020
Slide 1: 2020 – NAREIT Update
2020 – NAREIT 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 Update
LEASING UPDATE E-commerce has accounted for approximately 53% of long-term leasing in Q2 2020 - 350,000 square foot building fully leased to a dominant e-commerce company for 11 years Actively engaged with multiple prospects interested in leasing the Solo Cup and GSA buildings Negotiating full build
Slide 4: Rent Collection & Relief Update
RENT COLLECTION & RELIEF UPDATE RENT COLLECTION 98.8% of April rents collected, deferred, or expected to pay by year-end - 96.8% collected, 0.7% deferred, and 1.3% expected to pay by year-end 96.8% of May rents collected, deferred, or expected to pay by year-end - 91.2% of rents collected - 2.6% of
Slide 5: Acquisition Update
ACQUISITION UPDATE Selectively evaluating potential acquisition opportunities - Price discovery continues with expected capitalization rate expansion - Reengaged on select acquisitions previously under agreement 2020 guidance updated to reflect acquisition activity in 2H 2020 - Expect to acquire bet
Slide 6: Balance Sheet & Liquidity Update
BALANCE SHEET & LIQUIDITY UPDATE ESTIMATED LIQUIDITY AS OF MAY 28, 2020 Cash on balance sheet $100.0 million Forward equity proceeds $135.1 million Unused 1031 proceeds $13.5 million ESTIMATED LIQUIDITY EXCLUDING UNDRAWN REVOLVER BALANCE $248.6 million Undrawn revolver balance $500.0 million TOTAL E
Slide 7: Building Blocks of Growth
BUILDING BLOCKS OF GROWTH NORMALIZED EXPECTATIONS OVER NEXT HISTORICAL TREND 2020 GUIDANCE – COVID NOTES - COVID FIVE YEARS Average cash same store NOI Cash same store NOI growth of 0.0% - 1.0% Cash same store NOI growth of 2.0% - 3.0% Increased credit loss growth of ~1.0% over past five • Includes
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