Stag Industrial Earnings: Here’s Why the Stock is Falling Now
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 down 0.14%.
Stag Industrial Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 10% to $0.33 in the quarter versus EPS of $0.30 in the year-earlier quarter.
Revenue: Rose 68.15% to $30.3 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 $0.32. It beat the average revenue estimate of $28.75 million.
Quoting Management: “We are very pleased with our performance in the first quarter as the operations and acquisitions momentum from 2012 continued to carry forward. We were able to generate over $60 million in accretive acquisitions versus $38 million in the first quarter of 2012. We continue to see a significant amount of acquisition opportunities and strong leasing activity,” commented Benjamin Butcher, Chief Executive Officer.
Key Stats (on next page)…