STAG Industrial announced its financial and operating results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, Core FFO per diluted share increased by 5.2% to $0.61 compared to $0.58 in Q4 2023, while Cash NOI grew 8.6% to $155.470 million.
For the full year 2024, Core FFO per diluted share increased by 4.8% to $2.40 compared to $2.29 in 2023. Full year Cash NOI increased by 8.5% to $597.789 million, and Same Store Cash NOI grew by 5.8% to $550.246 million.
The company acquired fifteen buildings in Q4 2024 for $293.7 million, totaling 2.4 million square feet, at a 6.2% cash capitalization rate. Full year acquisitions amounted to 32 buildings for $682.370 million. Leasing activity for the year saw 13.5 million square feet commenced with a 28.3% cash rent change.
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