The company's reported Debt/Equity ratio between 0.77 and 0.90 appears unusually low for an industrial REIT, suggesting potential inconsistencies in capital structure classification.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|
| Total Assets | 7.18B | 7.21B | 6.83B | 6.28B | 6.18B | 5.83B | 4.69B | 4.16B | 3.1B | 2.68B | 2.19B | 1.91B | 1.63B | 1.27B | 1.01B | 624.51M | 509.04M | 220.12M | 229.73M |
| Asset Growth % | 21.34% | 5.48% | 8.75% | 1.59% | 6.03% | 24.31% | 12.68% | 34.23% | 15.74% | 22.62% | 14.68% | 17% | 28.26% | 26.38% | 60.95% | 22.68% | 131.26% | -4.19% | - |
| Real Estate & Other Assets | 6.45B | -6.81B | 6.1B | 5.59B | 5.43B | 5.06B | 4.03B | 3.52B | 9.15M | 6.08M | 1.82B | 1.56B | 959K | 218.89M | 187.56M | 585.55M | 80.06M | 25.23M | 30.35M |
| PP&E (Net) | 32.16M | 32.71M | 31.15M | 29.57M | 31.31M | 29.58M | 25.4M | 15.13M | 2.65B | 2.25B | 1.82B | 1.56B | 1.31B | 1.01B | 770.05M | 0 | 413.25M | 185.94M | 190.76M |
| Investment Securities | 0 | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 319.16M | 171.37M | 269.94M | 230.6M | 218.67M | 177.75M | 142.05M | 150.71M | 101.68M | 107.01M | 67.85M | 59.95M | 70.28M | 44M | 42.59M | 34.04M | 11.71M | 8.95M | 8.62M |
| Cash & Equivalents | 8.86M | 14.91M | 36.28M | 20.74M | 25.88M | 18.98M | 15.67M | 9.04M | 7.97M | 24.56M | 12.19M | 12.01M | 23.88M | 6.69M | 19.01M | 16.5M | 997K | 2.77M | 3.37M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 148.95M | 0 | 97.3M | 81.58M | 5.55M | 4.21M | 5.12M | 45.84M | 14.57M | 23.48M | 9.61M | 8.39M | 6.91M | 6.81M | 11.88M | 10.2M | 4.85M | 1.98M | 1.19M |
| Intangible Assets | 383.34M | 394.97M | 428.87M | 435.72M | 508.94M | 567.66M | 499.8M | 475.15M | 342.01M | 313.25M | 294.53M | 276.27M | 247.9M | 0 | 170.16M | 0 | 0 | 0 | 0 |
| Total Liabilities | 3.52B | 3.54B | 3.3B | 2.84B | 2.73B | 2.44B | 1.92B | 1.8B | 1.43B | 1.27B | 1.12B | 1.05B | 737.79M | 595.72M | 515.66M | 314.61M | 265.66M | 221.64M | 223.17M |
| Total Debt | 3.23B | 3.29B | 3.06B | 2.66B | 2.53B | 2.25B | 1.73B | 1.66B | 1.33B | 1.17B | 1.04B | 980.25M | 686.35M | 556.09M | 479.21M | 296.78M | 239.95M | 212.13M | 216.18M |
| Net Debt | 3.22B | 3.28B | 3.03B | 2.64B | 2.51B | 2.23B | 1.72B | 1.65B | 1.32B | 1.15B | 1.02B | 968.24M | 662.47M | 549.4M | 460.21M | 280.28M | 238.95M | 209.36M | 212.81M |
| Long-Term Debt | 2.99B | 2.99B | 2.62B | 2.22B | 2.32B | 1.92B | 1.6B | 1.5B | 1.23B | 902.78M | 1.01B | 924.25M | 555.35M | 475.59M | 379.92M | 296.78M | 0 | 0 | 0 |
| Short-Term Borrowings | 200M | 262M | 409M | 402M | 175M | 296M | 107M | 146M | 100.5M | 271M | 28M | 56M | 131M | 80.5M | 99.3M | 0 | 239.95M | 212.13M | 216.18M |
| Capital Lease Obligations | 141.98M | 37.04M | 35.3M | 33.58M | 35.1M | 33.11M | 27.9M | 16.99M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 403.26M | 421.58M | 559.28M | 507.88M | 294.65M | 394.38M | 196.14M | 217.2M | 159.76M | 326.1M | 73.12M | 89.9M | 159.91M | 104.24M | 122.71M | 12.2M | 258.94M | 215.08M | 218.36M |
| Accounts Payable | 127.63M | 135.4M | 126.81M | 83.15M | 97.37M | 76.47M | 69.77M | 53.74M | 45.51M | 43.22M | 35.39M | 25.66M | 21.56M | 18.57M | 12.11M | 6.04M | 4.38M | 0 | 0 |
| Deferred Revenue | 62.55M | 59.23M | 56.17M | 44.24M | 40.85M | 37.14M | 27.84M | 21.99M | 22.15M | 19.05M | 15.2M | 14.63M | 11.48M | 8.97M | 5.69M | 3.48M | 0 | 0 | 0 |
| Other Liabilities | 24.06M | 26.88M | 33.34M | 29.91M | 32.43M | 52.77M | 73.42M | 45.56M | 25.58M | 22.44M | 22.78M | 15.15M | 11.05M | 6.91M | 7.35M | 2.14M | 6.71M | 6.56M | 4.81M |
| Total Equity | 3.66B | 3.67B | 3.53B | 3.45B | 3.46B | 3.39B | 2.77B | 2.36B | 1.67B | 1.41B | 1.07B | 855.38M | 891.52M | 674.56M | 489.46M | 309.91M | 243.38M | -1.52M | 6.56M |
| Equity Growth % | 14.61% | 4.07% | 2.37% | -0.36% | 1.9% | 22.47% | 17.22% | 41.58% | 18.39% | 32.18% | 24.73% | -4.05% | 32.16% | 37.82% | 57.94% | 27.33% | 16101.51% | -123.19% | - |
| Shareholders Equity | 3.59B | 3.6B | 3.46B | 3.37B | 3.38B | 3.33B | 2.72B | 2.31B | 1.61B | 1.36B | 1.03B | 820.1M | 864.16M | 603.05M | 427.61M | 230.69M | 155.69M | -1.52M | 6.56M |
| Minority Interest | 78.56M | 71.34M | 69.93M | 71.13M | 73.36M | 65.89M | 54.84M | 58.36M | 55.83M | 51.27M | 39.89M | 35.28M | 27.37M | 71.52M | 61.85M | 79.22M | 87.69M | 0 | 0 |
| Common Stock | 1.91M | 1.91M | 1.86M | 1.82M | 1.79M | 1.78M | 1.58M | 1.43M | 1.12M | 970K | 804K | 681K | 644K | 447K | 357K | 159K | 0 | 0 | 0 |
| Additional Paid-in Capital | 4.62B | 4.62B | 4.45B | 4.27B | 4.19B | 4.13B | 3.42B | 2.97B | 2.12B | 1.73B | 1.29B | 1.02B | 928.24M | 577.04M | 419.64M | 179.92M | 0 | 0 | 0 |
| Retained Earnings | -1.05B | -1.03B | -1.03B | -948.72M | -876.14M | -792.33M | -742.07M | -723.03M | -584.98M | -516.69M | -410.98M | -334.62M | -203.24M | -116.88M | -61.02M | -18.39M | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 75M | 75M | 75M | 145M | 145M | 139M | 139M | 139M | 69M | 69M | 0 | 0 | 0 |
| Return on Assets (ROA) | 3.47% | 3.9% | 2.89% | 3.09% | 2.97% | 3.65% | 4.56% | 1.36% | 3.21% | 1.28% | 1.69% | -1.55% | -0.25% | 0.49% | -0.8% | -0.8% | -0.81% | -2.47% | -3.34% |
| Return on Equity (ROE) | 6.8% | 7.6% | 5.43% | 5.59% | 5.21% | 6.24% | 7.87% | 2.44% | 6.03% | 2.52% | 3.59% | -3.14% | -0.47% | 0.95% | -1.62% | -1.64% | -2.44% | -220.68% | -117.13% |
| Debt / Assets | 44.96% | 45.66% | 44.85% | 42.3% | 40.97% | 38.6% | 36.89% | 39.91% | 42.74% | 43.79% | 47.4% | 51.42% | 42.12% | 43.78% | 47.68% | 47.52% | 47.14% | 96.37% | 94.1% |
| Debt / Equity | 0.88x | 0.90x | 0.87x | 0.77x | 0.73x | 0.66x | 0.62x | 0.70x | 0.79x | 0.83x | 0.97x | 1.15x | 0.77x | 0.82x | 0.98x | 0.96x | 0.99x | - | 32.95x |
| Net Debt / EBITDA | 5.08x | 5.28x | 5.38x | 5.06x | 5.17x | 5.48x | 4.79x | 5.52x | 5.23x | 5.35x | 6.10x | 6.58x | 5.81x | 5.78x | 7.98x | 8.82x | 12.20x | 9.78x | 8.76x |
| Book Value per Share | 19.16 | 19.51 | 19.34 | 19.08 | 19.33 | 20.68 | 18.57 | 18.81 | 16.08 | 15.67 | 15.06 | 12.90 | 16.48 | 15.92 | 19.54 | 19.49 | 17.35 | -0.11 | 0.47 |
Single-tenant lease expiration volatility
According to quarterly financial data, STAG has grown total assets from $6.3 billion in 2023Q4 to $7.2 billion by 2026Q1, reflecting an aggressive acquisition-led growth strategy that relies heavily on external capital to expand the industrial footprint beyond its historical secondary market concentration.
The consistent growth in total assets suggests a management team focused on scaling the portfolio to achieve operational efficiencies. However, the concurrent rise in total liabilities warrants caution, as the company appears to be funding this expansion through a mix of debt and equity that may pressure future return on equity metrics.
Based on reported figures, the Debt/Equity ratio has hovered between 0.77 and 0.90 over the last ten quarters, a range that appears unusually low for an industrial REIT and suggests potential inconsistencies in how the company classifies its capital structure relative to industry peers.
Investors should monitor whether this leverage profile is a result of conservative financing or a reporting anomaly that obscures the true debt burden. If the debt levels are understated, the company's ability to navigate a high-interest-rate environment may be more constrained than the current ratios imply.
As reported in financial statements, cash balances have fluctuated significantly, ranging from a low of $8.9 million in 2026Q1 to a peak of $70.0 million in 2024Q3, indicating a lack of consistent liquidity buffers to support ongoing development and acquisition funding requirements.
This volatility in cash reserves suggests that STAG may be relying on revolving credit facilities or frequent capital market access to manage its liquidity needs. Such a reliance may expose the company to heightened refinancing risk if market conditions for industrial REITs tighten unexpectedly.
While the balance sheet shows steady growth, the underlying portfolio risk is concentrated in single-tenant assets, which, as noted in recent filings, creates a binary income profile where individual lease expirations can lead to immediate and significant revenue loss across the entire property base.
The reliance on single-tenant properties necessitates a higher level of recurring capital expenditure to maintain occupancy, which may not be fully captured in standard leverage metrics. This structural reality implies that the company's balance sheet strength is inherently tied to its ability to manage tenant retention effectively.
Quick answers to the most common questions about buying STAG stock.
As of 2025, STAG Industrial, Inc. (STAG) had total assets of $7.21B including $171.4M in current assets.
STAG Industrial, Inc. (STAG) carries total debt of $3.29B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
STAG Industrial, Inc. (STAG) has total shareholders' equity (book value) of $3.60B ($19.51 book value per share). Book value represents the net worth of the company belonging to common stock holders.
STAG Industrial, Inc. (STAG) reported a current ratio of 0.41x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.