STAG Industrial (STAG) Announces Quarterly Earnings, Meets Expectations
STAG Industrial (NASDAQ:STAG) announced its earnings results on Wednesday. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36, Stock Ratings Network reports. The company had revenue of $41.70 million for the quarter, compared to the consensus estimate of $40.28 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 31.1% on a year-over-year basis.
On a related note, analysts at Sandler O’Neill initiated coverage on shares of STAG Industrial in a research note on Monday, July 21st. They set a “buy” rating and a $27.00 price target on the stock. Five research analysts have rated the stock with a buy rating, STAG Industrial presently has an average rating of “Buy” and a consensus price target of $25.60.
In other STAG Industrial news, CEO Benjamin S. Butcher sold 1,765 shares of STAG Industrial stock on the open market in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $23.88, for a total value of $42,148.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of STAG Industrial (NASDAQ:STAG) traded down 0.84% during mid-day trading on Wednesday, hitting $23.56. 160,152 shares of the company’s stock traded hands. STAG Industrial has a 52-week low of $18.76 and a 52-week high of $25.19. The stock’s 50-day moving average is $23.98 and its 200-day moving average is $23.40. The company’s market cap is $1.266 billion.
The company also recently declared a oct 14 dividend, which is scheduled for Monday, November 17th. Investors of record on Friday, October 31st will be given a dividend of $0.11 per share.
STAG Industrial, Inc is an integrated, full-service real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States.
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