Stag: 4Q Earnings Snapshot
BOSTON (AP) _ Stag Industrial Inc. (STAG) on Wednesday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The Boston-based real estate investment trust said it had funds from operations of $52.6 million, or 46 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 45 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $44.3 million, or 40 cents per share.
The industrial real estate investment trust posted revenue of $93.3 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $92.3 million.
For the year, the company reported funds from operations of $194.3 million, or $1.79 per share. Revenue was reported as $351 million.
The company’s shares have risen 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.18, a rise of 20 percent in the last 12 months.