Stag: 1Q Earnings Snapshot
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BOSTON (AP) _ Stag Industrial Inc. (STAG) on Tuesday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.
The real estate investment trust, based in Boston, said it had funds from operations of $44 million, or 43 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 43 cents per share.
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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 $21.7 million, or 22 cents per share.
The industrial real estate investment trust posted revenue of $83.3 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $83.2 million.
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The company's shares have decreased roughly 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $24.69, a decrease of slightly more than 7 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on STAG at https://www.zacks.com/ap/STAG