Stag: 3Q Earnings Snapshot
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BOSTON (AP) _ Stag Industrial Inc. (STAG) on Thursday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Boston, said it had funds from operations of $49.9 million, or 45 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 45 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 $7.2 million, or 7 cents per share.
The industrial real estate investment trust posted revenue of $88.9 million in the period, which also matched Street forecasts.
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The company's shares have fallen almost 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.32, a fall of nearly 5 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