About Benjamin Butcher
Benjamin Butcher, chairman, president, and CEO of STAG Industrial, has discussed the company’s focus on using data analytics to improve underwriting and asset selection, stating that the industrial sector has historically lagged others in data use and that STAG aims to change that perception by demonstrating the positive impact of data. He has also highlighted the company’s charitable work through its Charitable Action Committee in Boston, describing the level of employee engagement as gratifying. Butcher has noted that while strong industrial fundamentals continue, supply is becoming an issue in a few large markets, and he cited potential demand impacts from tariffs and Washington policy.
Butcher has described STAG as a bottom-up investor focused on acquiring assets that produce strong cash flow, with a diversified portfolio across geography, industry, and tenant credit. He has expressed confidence in consumer-driven U.S. economic strength and noted that industrial demand closely tracks GDP, with e-commerce and supply chain shortening providing additional tailwinds. Butcher has also stated that the company’s acquisition pace may accelerate as its cost of capital improves and opportunities remain plentiful, and that STAG has built a platform capable of handling larger annual acquisition volumes.
Source: AI-verified profile updated from Benjamin Butcher's recent appearances.
Browse all interviews →
Transcript (10 segments)
M
Matt Bashar Whitney0:08
I'm Matt Bashar Whitney right here at the New York Hilton for REITweek 2017. NAREIT Investor Forum, joining me today is Ben Butcher, the Chairman, President, and CEO of STAG Industrial. Thanks so much for joining us.
B
Benjamin Butcher0:20
My pleasure, nice to be here.
M
Matt Bashar Whitney0:22
Now, in the first quarter this year, STAG acquired 11 properties. Is that the type of pace we should expect the company to keep up?
B
Benjamin Butcher0:29
Well, it's interesting. With their cost of capital improving and with the opportunities pretty plentiful out there, I think we actually may accelerate. We targeted in the second quarter buying between 200 and 250 million, something in order of 25 properties in the second quarter. So I think you'll see the pace accelerate.
M
Matt Bashar Whitney0:44
And what about on the other side? Should we look for some portfolio pruning in the near future?
B
Benjamin Butcher0:48
We're always looking to sell assets where someone else thinks the assets worth more than we do in our portfolio. Having said that, we're not a very active seller.
M
Matt Bashar Whitney0:56
And STAG's FFO was up five percent in the quarter. What was driving that?
B
Benjamin Butcher1:02
Well, it's partially cost of capital and the accretive nature of our acquisitions. That's due in some part to our operating leverage. We have quite an advantage in terms of deploying the assets, the people, persons, and processes that we have in place to accretively acquire assets. So it's some internal efficiency and just good relative value buying.
M
Matt Bashar Whitney1:24
Great, Ben. Thanks so much for joining us.
B
Benjamin Butcher1:26
Thank you.
