STAG Industrial Joins Other Leading Industrial REITs in Conforming Certain Non-GAAP Operating Metrics

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.