Jun 2026 (Q2 FY26) — Jul 29, 2026
STAG Industrial, Inc. Q2 FY26 — Strong Leasing Spreads and Increased Guidance
Read the full callSTAG Industrial earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 224 | +9.1% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Mar 2026 | Not in the filed figures for the quarter to mar 2026. No older figure is substituted. | ||
| Net profit | 62.0 | −32.2% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
Guidance
9 of 10 judged targets kept · 22 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Tampa, FL development (2 buildings, ~300,000 sq ft) -- stabilization | Stabilization expected in second half of 2025 | Jun 2024 | In May, we executed a lease for 35,000 square feet or 25% of our Tampa development. | Missed |
| FY26 acquisition volume guidance | $350 million to $650 million | Dec 2025 | Acquisition volume guidance has been increased to a range of $400 million to $700 million, and we expect to stabilize capitalization rate to range from 6% to 6.5%. | Revised Up |
| Greenville-Spartanburg, SC developments (3 buildings) -- lease-up | 2 buildings expected to lease by Q3 2025; third (Casual Drive) building underwritten to a ~12-month lease-up | Jun 2024 | We agreed to a 73,000 square-foot lease at our casual drive development in Greenville. That building is now 100% leased. | Achieved |
1 of STAG Industrial, Inc.'s 32 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 29 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $38.18 on 17 Oct 2025 → $35.83. High $42.04 (16 Jul 2026), low $35.28 (7 Oct 2026).
Overview
Guidance
9 of 10 judged targets kept · 22 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Tampa, FL development (2 buildings, ~300,000 sq ft) -- stabilization | Stabilization expected in second half of 2025 | Jun 2024 | In May, we executed a lease for 35,000 square feet or 25% of our Tampa development. | Missed |
| FY26 acquisition volume guidance | $350 million to $650 million | Dec 2025 | Acquisition volume guidance has been increased to a range of $400 million to $700 million, and we expect to stabilize capitalization rate to range from 6% to 6.5%. | Revised Up |
| Greenville-Spartanburg, SC developments (3 buildings) -- lease-up | 2 buildings expected to lease by Q3 2025; third (Casual Drive) building underwritten to a ~12-month lease-up | Jun 2024 | We agreed to a 73,000 square-foot lease at our casual drive development in Greenville. That building is now 100% leased. | Achieved |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 32 tracked commitments, with each call’s wording and source.
Call summaries
STAG Industrial, Inc. Q2 FY26 — Strong Leasing Spreads and Increased Guidance
Read the full callSTAG Industrial Q1 FY26 — Strong Leasing Velocity and Data Center Demand
Read the full callEvery analysed call
Financials
Net profit, year on year: −32% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 190 | 191 | 199 | 206 | 208 | 211 | 221 | 224 |
| Expenses | 130 | 123 | 127 | 131 | 129 | 131 | 137 | 140 |
| Other income | 1 | -25 | -20 | 19 | -28 | -31 | 2 | -21 |
| Interest | 27 | 29 | 32 | 33 | 34 | 32 | 34 | 36 |
| Net profit | 60 | 42 | 51 | 91 | 50 | 49 | 83 | 62 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | -585 | -723 | -742 | -792 | -876 | -949 | -1,030 | -1,035 |
| Total liabilities | 1,433 | 1,801 | 1,922 | 2,440 | 2,727 | 2,838 | 3,304 | 3,537 |
| Total assets | 3,103 | 4,165 | 4,693 | 5,833 | 6,185 | 6,283 | 6,833 | 7,208 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 198 | 233 | 294 | 336 | 388 | 391 | 460 | 463 |
| Cash from investing | -507 | -1,223 | -555 | -1,220 | -448 | -320 | -731 | -497 |
| Cash from financing | 304 | 979 | 269 | 887 | 63 | -76 | 286 | 97 |
| Net cash flow | -6 | -11 | 8 | 3 | 4 | -5 | 16 | 63 |
| Capital expenditure | -35 | -65 | -56 | -40 | -112 | -108 | -150 | -205 |
| Free cash flow | 163 | 168 | 238 | 297 | 276 | 283 | 310 | 259 |
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Retention rate | 69.5%Retention for the quarter was 69.5%, we are maintaining our retention guidance of 70% to 80% for the year.Source: earnings call transcript | 75.7%Retention for the quarter was 75.7%.Source: earnings call transcript | +6.2 pt |
| Occupancy rate Same-store | 96.6%So that resulted in 96.6% occupancy in the same store.Source: earnings call transcript | 96%So our spot occupancy at the end of Q2 in our same-store pool is 96%.Source: earnings call transcript | -0.6 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
55 filings between Nov 5, 2025 and Oct 15, 2026.
Purchases
None
No insider bought shares.
Sales
$5.86M
5 sales by 4 insiders
Also filed: 5 conversions, 3 dispositions to the issuer, 1 gift.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Crooker William R | — | $3.67M | Feb 23, 2026 |
| Pinard Matts | — | $988.9K | Feb 23, 2026 |
| COLBERT VIRGIS | — | $685.5K | Feb 19, 2026 |
| Chase Michael | — | $509.3K | Nov 5, 2025 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 15, 2026 | Chin Jit Kee Director | Award | 624 | $22.5K |
| Oct 15, 2026 | Wilbon Vicki Lundy Director | Award | 451 | $16.2K |
| Oct 15, 2026 | COLBERT VIRGIS Director | Award | 451 | $16.2K |
| Oct 15, 2026 | Guillemette Larry T Director | Award | 971 | $35.0K |
| Oct 15, 2026 | Dilley Michelle Director | Award | 572 | $20.6K |
| Oct 15, 2026 | Jacoby Francis X III Director | Award | 451 | $16.2K |
| Oct 15, 2026 | Furber Jeffrey D. Director | Award | 589 | $21.2K |
| Oct 15, 2026 | WEGER HANS S Director | Award | 451 | $16.2K |
| Oct 15, 2026 | MARR CHRISTOPHER P Director | Award | 451 | $16.2K |
| Oct 15, 2026 | Butcher Benjamin S Director | Award | 451 | $16.2K |
| Jul 15, 2026 | Guillemette Larry T Director | Award | 899 | $35.0K |
| Jul 15, 2026 | WEGER HANS S Director | Award | 417 | $16.2K |
| Jul 15, 2026 | Jacoby Francis X III Director | Award | 417 | $16.2K |
| Jul 15, 2026 | Butcher Benjamin S Director | Award | 417 | $16.2K |
| Jul 15, 2026 | COLBERT VIRGIS Director | Award | 417 | $16.2K |
| Jul 15, 2026 | Wilbon Vicki Lundy Director | Award | 417 | $16.2K |
| Jul 15, 2026 | Chin Jit Kee Director | Award | 578 | $22.5K |
| Jul 15, 2026 | Furber Jeffrey D. Director | Award | 546 | $21.2K |
| Jul 15, 2026 | MARR CHRISTOPHER P Director | Award | 417 | $16.2K |
| Jul 15, 2026 | Dilley Michelle Director | Award | 530 | $20.6K |
| Apr 15, 2026 | WEGER HANS S Director | Award | 440 | $16.2K |
| Apr 15, 2026 | COLBERT VIRGIS Director | Award | 440 | $16.2K |
| Apr 15, 2026 | COLBERT VIRGIS Director | Award | 440 | $16.2K |
| Apr 15, 2026 | MARR CHRISTOPHER P Director | Award | 440 | $16.2K |
| Apr 15, 2026 | Dilley Michelle Director | Award | 559 | $20.6K |
| Apr 15, 2026 | Furber Jeffrey D. Director | Award | 576 | $21.2K |
| Apr 15, 2026 | Chin Jit Kee Director | Award | 610 | $22.5K |
| Apr 15, 2026 | Wilbon Vicki Lundy Director | Award | 440 | $16.2K |
| Apr 15, 2026 | Guillemette Larry T Director | Award | 949 | $35.0K |
| Apr 15, 2026 | Jacoby Francis X III Director | Award | 440 | $16.2K |
| Apr 15, 2026 | Butcher Benjamin S Director | Award | 440 | $16.2K |
| Mar 4, 2026 | Butcher Benjamin S Director | Conversion | 30,000 | — |
| Mar 4, 2026 | Butcher Benjamin S Director | Disposition to issuer | 30,000 | $1.18M |
| Feb 23, 2026 | Pinard Matts EVP, CFO AND TREASURER | Conversion | 25,242 | — |
| Feb 23, 2026 | Pinard Matts EVP, CFO AND TREASURER | Sale | 25,242 | $988.9K |
| Feb 23, 2026 | Crooker William R CEO AND PRESIDENT | Sale | 93,732 | $3.67M |
| Feb 23, 2026 | Crooker William R CEO AND PRESIDENT | Conversion | 93,732 | — |
| Feb 19, 2026 | COLBERT VIRGIS Director | Sale | 9,680 | $368.4K |
| Feb 19, 2026 | COLBERT VIRGIS Director | Sale | 8,320 | $317.1K |
| Jan 15, 2026 | Dilley Michelle Director | Award | 552 | $20.6K |
| Jan 15, 2026 | MARR CHRISTOPHER P Director | Award | 434 | $16.2K |
| Jan 15, 2026 | Guillemette Larry T Director | Award | 936 | $35.0K |
| Jan 15, 2026 | Wilbon Vicki Lundy Director | Award | 434 | $16.2K |
| Jan 15, 2026 | Chin Jit Kee Director | Award | 602 | $22.5K |
| Jan 15, 2026 | Jacoby Francis X III Director | Award | 434 | $16.2K |
| Jan 15, 2026 | Butcher Benjamin S Director | Award | 434 | $16.2K |
| Jan 15, 2026 | Furber Jeffrey D. Director | Award | 568 | $21.2K |
| Jan 15, 2026 | WEGER HANS S Director | Award | 434 | $16.2K |
| Jan 15, 2026 | COLBERT VIRGIS Director | Award | 434 | $16.2K |
| Nov 18, 2025 | Butcher Benjamin S Director | Disposition to issuer | 8,448 | $324.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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