Stag Industrial, Inc. (STAG) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Stag Industrial, Inc. (NYSE:STAG) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01, Bloomberg Earnings reports. The company had revenue of $78.14 million for the quarter, compared to analyst estimates of $76.17 million. Stag Industrial had a net margin of 12.22% and a return on equity of 3.97%. The firm’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS.
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In related news, EVP Peter S. Fearey sold 1,033 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $28.71, for a total value of $29,657.43. Following the sale, the executive vice president now directly owns 2,506 shares of the company’s stock, valued at $71,947.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.
Several brokerages recently issued reports on STAG. Evercore ISI raised shares of Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, August 14th. BidaskClub lowered shares of Stag Industrial from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 25th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Stag Industrial in a report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $32.00 price target (up from $31.00) on shares of Stag Industrial in a report on Tuesday, August 22nd. Finally, UBS AG raised shares of Stag Industrial from a “sell” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $28.00 in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.25.
Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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