BOSTON, Jan. 17, 2018 /PRNewswire/ -- STAG
Industrial, Inc. (the "Company") (NYSE:STAG), a real estate
investment trust (REIT) focused on the acquisition and operation of
single-tenant, industrial properties throughout the United States, today announced that a
group of leading industrial REITs, including, along with the
Company, DCT Industrial Trust Inc. (DCT), Duke Realty Corporation
(DRE), EastGroup Properties, Inc. (EGP), First Industrial Realty
Trust, Inc. (FR), Liberty Property Trust (LPT), and Prologis, Inc.
(PLD) (the "Industrial REIT Group"), has agreed on a consistent
methodology to calculate various non-GAAP property operating
metrics. These non-GAAP metrics include common methodologies
for determining property stabilization and occupancy as well as
reporting of comparative changes in rental rates and tenant
retention rates. In addition, the Industrial REIT Group has
agreed on the definition of the annual pool of properties
("Same-Store Pool") used in calculating same-store or same-property
net operating income growth ("Same-Store NOI"). Specifically,
the annual Same-Store Pool will only include properties held as of
the beginning of the prior calendar year which were stabilized
(according to the agreed upon definition) throughout both periods
presented.
Beginning in the first quarter of 2018, all members of the
Industrial REIT Group have agreed to calculate these non-GAAP
metrics based on the agreed upon methodologies. These
conforming changes are not expected to have a material impact to
STAG's non-GAAP metrics for periods prior to 2018. 2018
guidance provided by members of the Industrial REIT Group will also
be based on the revised methodology.
Although there may be minor distinctions between how companies
within the Industrial REIT Group calculate a given metric or in the
terminology used, the collective intent is to produce calculations
that are consistent, in all material respects.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust (REIT)
focused on the acquisition and operation of single-tenant,
industrial properties throughout the
United States. The Company's portfolio consists of 347
properties in 37 states with approximately 69 million rentable
square feet.
For additional information, please visit the Company's website
at www.stagindustrial.com.
Forward-Looking Statements
This press release, together with other statements and
information publicly disseminated by the Company, contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The Company intends
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 and includes this
statement for purposes of complying with these safe harbor
provisions. Forward-looking statements, which are based on certain
assumptions and describe the Company's future plans, strategies and
expectations, are generally identifiable by use of the words
"believe," "will," "expect," "intend," "anticipate," "estimate,"
"should," "project" or similar expressions. You should not rely on
forward-looking statements since they involve known and unknown
risks, uncertainties and other factors that are, in some cases,
beyond the Company's control and which could materially affect
actual results, performances or achievements. Factors that may
cause actual results to differ materially from current expectations
include, but are not limited to, the risk factors discussed in the
Company's annual report on Form 10-K for the year ended
December 31, 2016 as updated by the
Company's quarterly reports on Form 10-Q. Accordingly, there is no
assurance that the Company's expectations will be realized. Except
as otherwise required by the federal securities laws, the Company
disclaims any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained
herein (or elsewhere) to reflect any change in the Company's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
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SOURCE STAG Industrial, Inc.