Stag Industrial

What Stag Industrial does

STAG Industrial, Inc. (NYSE: STAG) is a publicly traded real estate investment trust focused on the acquisition, development, ownership, and operation of industrial properties throughout the United States. The company was formed through a 2011 IPO with a predecessor business (STAG Capital Partners, LLC) dating to 2003; it is incorporated in Maryland and headquartered in Boston with a secondary office in Dallas. As of March 31, 2026, the portfolio comprised 601 buildings totaling 120.3 million rentable square feet across 41 states, with a $10.2 billion enterprise value and a market capitalization of approximately $7.16 billion (June 2026). The portfolio consists of single-tenant and multi-tenant warehouse, distribution, and light manufacturing facilities, with named enterprise tenants including Amazon, FedEx, UPS, and DHL Express.

STAG's business model centers on acquiring and operating industrial real estate under long-term triple-net leases, generating recurring rental revenue supplemented by occasional property dispositions and development activity. The company pursues acquisitions through three regional teams (Northeast, South, West), targeting deal sizes of $5–$100 million per asset with no maximum for portfolios; an active $3.9 billion acquisition pipeline spans 164 buildings. Revenue is primarily rental with a subscription-style recurring structure. In Q1 2026, revenue reached $224.21 million (+9% YoY), with 95.1% portfolio occupancy and 20.9% cash rent change on new and renewal leases. Capital structure is anchored by investment-grade credit (Moody's Baa2, upgraded May 2025), a conservative 58.4% FFO payout ratio, and 15 consecutive years of dividend increases, with senior unsecured note issuances totaling $1 billion across 2024–2025.

Operational technology includes a sustainability and energy management stack featuring 37.2 MW of rooftop solar, LED lighting conversions across more than 90% of the portfolio, reflective roofing covering 48% of buildings, and the WatchWire utility data aggregation platform. A separate data engineering function led by an SVP of Data & Technology supports portfolio analytics, though STAG's core competency remains real estate underwriting and asset management rather than proprietary technology. Distribution and marketing are conducted through direct B2B institutional investor engagement, the NAREIT REITweek conference, quarterly earnings calls, and an active Investor Relations site rather than traditional product marketing channels.

Name

Stag Industrial

Legal name

STAG Industrial, Inc.

Website

http://www.stagindustrial.com/index.php

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

STAG Industrial (NYSE: STAG) is a publicly traded REIT that owns and operates 601 industrial buildings totaling 120.3 million square feet across 41 U.S. states, primarily serving warehouse, distribution, logistics, and light manufacturing tenants through long-term triple-net leases.

Ownership category

akta.pro rank

Product category

Industrial Real Estate REIT

NAICS

Offices of Real Estate Agents and Brokers (5312), Industrial Building Construction (23621)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Assets — Operating Platforms & Direct Investments (FSAAAKAL)

akta.pro secondary industry

Industrial & Logistics Brokerage (BPAJABAC)

Keywords

• Industrial real estate
• Industrial REIT
• Warehouse leasing
• Distribution facilities
• Logistics properties

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Industrial Property Leasing: STAG Industrial generates revenue primarily through long-term leases of industrial properties to tenants. The company owns single-tenant and multi-tenant warehouse, distribution, and light manufacturing facilities. Revenue is recurring in nature from rent payments under triple-net leases.
2. Property Dispositions: The company generates proceeds from the sale of industrial properties, though this is not a primary recurring revenue stream. In Q1 2026, one building was sold for $30.1 million.
3. Development: STAG Industrial undertakes speculative development projects and build-to-suit developments, generating revenue through property sales or leasing upon completion.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

STAG Industrial is a publicly traded REIT focused on the acquisition, development, ownership, and operation of single-tenant and multi-tenant industrial properties throughout the United States. The portfolio comprises 601 industrial buildings across 41 states with approximately 120.3 million rentable square feet of warehouse, distribution, and light manufacturing facilities leased primarily under long-term triple-net leases to commercial tenants. Revenue is generated through recurring rental income, property dispositions, and development projects, with a $3.9 billion active acquisition pipeline and target deal sizes ranging from $5 million to $100 million per asset.

Product overview

STAG Industrial operates as a single-tenant industrial Real Estate Investment Trust (REIT) focused on the acquisition, development, ownership, and operation of industrial properties throughout the United States. The company offers a unified platform comprising three interconnected services: an Acquisition Platform that evaluates investments across all markets, credit profiles, and lease terms targeting buildings between $5-100 million; an Asset Management Services platform capable of addressing every physical aspect and tenant scenario; and Sustainability/Development services including solar installations, LED conversions, and build-to-suit projects. As of March 31, 2026, the portfolio consists of 601 industrial buildings across 41 states encompassing approximately 120.3 million rentable square feet, with a focus on warehouse, distribution, and light manufacturing facilities in both primary and secondary industrial markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial Property Portfolio

Quantifiable outcome

• 20.9% cash rent change on new and renewal leases commenced in Q1 2026
• +5 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Six partnerships are on record, tiered minor.

• DonorsChooseminorOthersSTAG Industrial established a national campaign with DonorsChoose to support students and teachers in every state where the company owns buildings, as part of its Charitable Action Fund initiatives.
• Room to GrowminorOthersPartnership with Room to Grow to collect essential clothing and baby items for families enrolled in their three-year program, supporting young families facing economic hardship.
• Boys & Girls Club of DorchesterminorOthersSTAG collaborates with Boys & Girls Club of Dorchester for Impact Day volunteer events, including priming and painting walls for The Colonel Daniel Marr Clubhouse.
• The Home for Little WanderersminorOthersSTAG has partnered with The Home for Little Wanderers, including being named Corporate Partner of the Year in 2015 and serving as chair of their annual fundraiser in 2017.
• Lucy’s Love BusminorOthersSTAG volunteers at Lucy's Love Bus annual Butterfly Event, dedicated to providing comfort and complementary therapies to children with cancer and other serious illnesses.
• Girls Inc. DallasminorOthersSTAG participated in Girls Inc. Bold Dreams Breakfast, supporting the organization's mission to inspire girls to be strong, smart, and bold through mentorship and educational resources.

Scale indicators10 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Terreno Realty Corporation: Terreno Realty is a direct industrial REIT peer with a comparable acquisition-and-operate model. Both companies focus on single-tenant-oriented industrial property portfolios in U.S. markets, though Terreno is concentrated in coastal infill markets where STAG targets secondary markets.
• EastGroup Properties, Inc. EastGroup is a publicly traded industrial REIT focused on Sunbelt distribution warehouses, providing a comparable business model to STAG. Both target single-tenant and multi-tenant distribution/warehouse facilities in U.S. markets with similar acquisition and asset management platforms.
• First Industrial Realty Trust, Inc. First Industrial is a direct peer as a U.S. industrial REIT operating a similar acquisition, development, and asset management platform. Both companies target industrial properties serving logistics and light manufacturing tenants across multiple U.S. regions, with comparable deal-size profiles.
• Rexford Industrial Realty, Inc. Rexford Industrial is a direct industrial REIT peer with a single-tenant acquisition-and-operate business model that closely mirrors STAG's, albeit focused on Southern California infill markets rather than STAG's diversified secondary-market footprint.
• Plymouth Industrial REIT, Inc. Plymouth Industrial is a smaller-cap industrial REIT peer focused on U.S. industrial properties with a similar secondary-market acquisition strategy to STAG. It provides the most direct smaller-cap comparable to STAG's differentiated market approach and acquisition velocity.
• PS Business Parks, Inc. PS Business Parks operates flex/industrial and office properties, but its industrial/flex segment overlaps with STAG's light industrial facilities. Both serve small- and mid-size tenants under multi-tenant configurations, providing a comparable operating model in adjacent industrial sub-segments.

Broad incumbents

• Prologis, Inc. Prologis is the dominant global industrial REIT and broad incumbent in STAG's space. Following its acquisitions of Duke Realty and Liberty Property Trust, Prologis operates at a scale and global footprint well beyond STAG's U.S.-only focus, providing the relevant top-tier comparison.

Others

• Duke Realty Corporation: Duke Realty was a direct peer industrial REIT that was acquired by Prologis in 2022. It had been a direct competitor to STAG in U.S. industrial real estate with a comparable acquisition and development platform across Midwest and Sunbelt markets.
• W. P. Carey Inc. W. P. Carey is a diversified net-lease REIT with significant industrial exposure across its single-tenant portfolio. While not exclusively industrial, its industrial segment provides a comparable net-lease operating model and serves as an adjacent peer for industrial real estate valuation benchmarks.
• JLL (Jones Lang LaSalle Incorporated): JLL is a global commercial real estate services firm that has transacted industrial properties on STAG's behalf, including the KCI Logistics Center acquisition in December 2025. As a capital markets intermediary in industrial real estate, JLL provides comparable deal-flow and valuation benchmarks.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/STAGIndustrial
• Facebookfacebook.com/STAGIndustrial
• LinkedInlinkedin.com/company/stagindustrial-inc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds8 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stag Industrial