Michael Chase on financial performance
From STAG Industrial CEO Expects Acquisition Pace to Accelerate · · Nareit1
“STAG's FFO was up five percent in the quarter. What was driving that? Well, it's a 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 creatively acquire assets.”
On , Michael Chase, Executive Vice President & Chief Investment Officer at STAG INDUSTRIAL INC, spoke about financial performance during STAG Industrial CEO Expects Acquisition Pace to Accelerate on Nareit1.
About Michael Chase
In a September 2017 interview, Michael Chase, then Executive Vice President and Chief Investment Officer of STAG Industrial, discussed the company's acquisition strategy. Chase stated that with an improving cost of capital and plentiful opportunities, he expected the company's acquisition pace to accelerate. He noted that STAG targeted buying between $200 and $250 million, or about 25 properties, in the second quarter of that year. Regarding asset sales, Chase said the company is "always looking to sell assets where someone else thinks the asset's worth more than we do," but added that STAG is "not a very active seller." Chase also addressed the company's funds from operations (FFO), which rose five percent in the quarter. He attributed the increase to the cost of capital, the accretive nature of acquisitions, and operating leverage. He described an advantage in deploying assets through the company's people and processes to "creatively acquire assets."