| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 30 | 28.6x | 17.8x | Bottom tier | |
Growth | 52 | 9.6% | 7.1% | Around median | |
Quality | 70 | 4.9% | 4.5% | Top tier | |
Safety | 47 | 4.8x | 2.6x | Around median | |
Capital Return | 50 | 4.01% | 2.12% | Around median | |
Momentum | 49 | 1.1% | 2.9% | Around median | |
Sentiment | 50 | 2 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
STAG Industrial owns and operates a portfolio of industrial buildings and generates income by leasing space to tenants across multiple domestic markets, while expanding the portfolio through acquisitions, development, and build-to-suit projects. In Q2 FY2026, the company commenced 36 leases covering 5.6 million square feet, achieved a tenant retention rate of 75.7%, and addressed 92% of its FY2026 leasing plan. The portfolio also benefits from demand from e-commerce, U.S. onshoring, and data center servicing, and since the beginning of 2025 it has leased 2.3 million square feet to data center-related tenants at a weighted average lease term of approximately seven years.
According to the latest available EDGAR filings, revenue increased from $220.9 million in Q4 FY2025 to $224.2 million in Q1 FY2026, or by approximately 1.5%, while net income declined from $83.5 million to $62.0 million. On a trailing twelve-month basis ending in FY2026, the company reported revenue of $863.8 million, net income of $244.1 million, and earnings per share of approximately $1.28, compared with revenue of $845.2 million and net income of $273.5 million in FY2025. The data did not disclose gross profit or its margin, so the assessment of operating profitability focuses on same-store cash net operating income growth of 3.4% in Q2 FY2026 and 3.9% during the first half of the year.
In Q2 FY2026, Core FFO per share was $0.65, representing year-over-year growth of 3.2%, while cash leasing spreads were 19.8% and straight-line leasing spreads were 33.7%. These results supported an increase in FY2026 Core FFO guidance to $2.61–$2.65 per share and an increase in the same-store cash net operating income growth range to 3%–3.5%. On the growth front, the company spent $287.1 million on seven buildings during the same quarter and is managing nine buildings under development totaling 2.3 million square feet, with an expected stabilized yield of 7.1%.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average target of $66.75, approximately 56.7% above the 52-week range high of $42.61, but the wide range of targets from $41 to $138 reveals significant divergence in valuation estimates. No reported price-to-earnings ratio is available in the data despite trailing twelve-month earnings per share of approximately $1.28, so the optimistic target should be weighed against the decline in trailing twelve-month net income to $244.1 million, compared with net income of $273.5 million in FY2025.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Growth drivers are based on lease repricing, portfolio expansion, and improving industrial demand. In Q2 FY2026, new and renewed leases generated cash spreads of 19.8%, and same-store cash net operating income increased by 3.4%. The company also raised its acquisition guidance to $400–$700 million and its Core FFO guidance to $2.61–$2.65 per share.
Since the beginning of 2025, STAG has leased 2.3 million square feet to tenants serving existing data center operations, such as generator and spare-parts storage. The average term of these leases was approximately seven years, and they generated rent increases of 33%. This demand appeared in markets including Michigan, Wisconsin, South Carolina, and Houston, making it an additional source of demand alongside e-commerce and manufacturing.
Liquidity totaled $614 million at the end of Q2 FY2026, and net debt to adjusted earnings before interest, taxes, depreciation, and amortization was 5.2 times. The ratio declines to 5.1 times after accounting for $70 million of proceeds from unsettled forward equity. On July 16, 2026, the company refinanced two loans with a combined value of $350 million into a single loan maturing on January 16, 2032, saving five basis points on existing bank debt.
STAG had nine buildings under development and not yet placed in service, totaling 2.3 million square feet, at the end of Q2 FY2026, with an expected stabilized yield of 7.1%. The program includes a 343,000-square-foot build-to-suit project in Rockwall, Texas, with an expected yield of 7.5% and estimated delivery in Q2 FY2027. The company also plans to begin a 184,000-square-foot project in Chandler, Arizona, in late Q3 FY2026 and deliver it in Q3 FY2027.
Same-store spot occupancy was 96% at the end of Q2 FY2026, and management expects a slight improvement near the end of FY2026. However, some markets were slower, including Savannah, Charleston, El Paso, and Reno, with particular weakness in distribution demand for a 284,000-square-foot space in North Valleys, Reno. Management also warned that leasing spreads could decline by approximately five percentage points annually if market rents remain nearly flat.
The average analyst target is $66.75, compared with a wide target range of $41 to $138 and a consensus rating of “Buy.” The average target exceeds the 52-week range high of $42.61 by approximately 56.7%, reflecting stronger growth assumptions than the levels recorded by the stock during that period. However, the absence of a reported price-to-earnings ratio and the wide target range also require consideration of Core FFO growth, the net income trend, and the company’s ability to execute acquisitions and development.
