Stag Industrial Earnings: Here’s Why Investors Like These Results
Stag Industrial Inc (NYSE:STAG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.18%.
Stag Industrial Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.13% to $0.33 in the quarter versus EPS of $0.32 in the year-earlier quarter.
Revenue: Rose 60.67% to $32.07 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Stag Industrial Inc reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.3. It beat the average revenue estimate of $31.29 million.
Quoting Management: “The second quarter of 2013 proved to be another very active and successful quarter for STAG,” commented Benjamin Butcher, the Company’s Chief Executive Officer. “We completed a preferred stock offering in April, in June we received an investment grade rating from Fitch Ratings and also completed our first acquisition including OP unit consideration. These events coupled with our strong acquisition and leasing activity continues to demonstrate our ability to successfully execute on our plan.”
Key Stats (on next page)…