EarningsQ2 2026 Earnings Report
MX:STAG Q2 2026 EPS Results
Actual EPS$5.09
Consensus EPS$4.90
Beat/MissBeat by +$0.18
One Year Ago EPS$4.90
MX:STAG Q2 2026 Revenue Results
Actual Revenue$4.07B
Expected Revenue$4.05B
Beat/MissBeat by +$24.12M
YoY Revenue Growth+8.08%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
MX:STAG Upcoming Earnings
Stag Industrial's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:STAG Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveys a constructive and improving operating environment: stable/improving fundamentals (net absorption, lower supply, strong leasing spreads), modest FFO growth, disciplined balance sheet with ample liquidity, and an active acquisition/development pipeline with attractive yields. Headwinds include a competitive acquisition market with tighter cap rates, some slower regional pockets (ports, Reno), quarter-to-quarter leasing variability, and limits on how fast development can be ramped. Overall, positive operating momentum and strengthened guidance outweigh the challenges.Company Guidance
Core FFO Growth
Core FFO per share of $0.65 in Q2, up 3.2% year-over-year; 2026 Core FFO guidance raised to $2.61–$2.65 per share (midpoint +$0.01).
Strong Demand and Net Absorption
Industrial net absorption of 69 million sq ft in Q2 and 111 million sq ft in the first half—best start to a year since 2022; company sees vacancy as peaked nationally and in portfolio.
Leasing Activity and Spreads
36 leases signed totaling 5.6 million sq ft in the quarter; cash and straight-line leasing spreads of 19.8% and 33.7% respectively; retention of 75.7%; 92% of 2026 forecasted leasing addressed.
Same-Store NOI and Occupancy Guidance
Same-store cash NOI growth of 3.4% for Q2 and 3.9% year-to-date; average same-store occupancy guidance increased 25 bps to a 96.25%–97.25% range.
Data Center-Related Demand
Since start of last year, 2.3 million sq ft leased to data center-related tenants with a weighted average lease term ~7 years and lease roll-ups of ~33%; demand noted across Midwest, Southeast and Texas.
Acquisitions and Cap Rates
Q2 acquisition volume of $287.1 million for seven buildings; cash cap rate 6.1% and straight-line cap rate 6.8% on acquisitions; acquisition guidance raised to $400M–$700M for 2026.
Development Pipeline and Yields
9 buildings / 2.3 million sq ft in development not in service with expected stabilized yields ~7.1%; recent BTS in Rockwall (343k sq ft) with expected yield 7.5% and Chandler (184k sq ft) planned.
Strong Balance Sheet and Liquidity
Liquidity of $614 million at quarter end; net debt to annualized run-rate adjusted EBITDA of 5.2x (5.1x incl. $70M unfunded forward equity); ATM issuance gross proceeds of $131M; refinanced term loans into $350M maturing 2032 with lower blended rates and 5 bps savings across bank debt.
Improved Guidance and Lower Credit Losses
Credit loss guidance reduced from 50 bps to 30 bps (6 bps incurred to date); cash same-store growth guidance raised to 3.0%–3.5% for 2026 (midpoint +25 bps).
MX:STAG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed