STAG Industrial Q3 FFO Rises, But Misses View; Hikes Dividend - Quick Facts

(RTTNews) - Real estate investment trust STAG Industrial, Inc. (STAG) reported third-quarter funds from operations or FFO attributable to common stockholders and unit holders of $17.25 million ,compared to $14.98 million last year.

Core FFO for the quarter were $0.36 per share, compared to $0.35 per share last year. On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share. Analysts' estimates typically exclude special items.

Net loss attributable to common stockholders for the quarter widened to $2.46 million from $2.15 million in the year-ago period. However, loss per share narrowed to $0.04 from $0.05 last year.

Total revenues for the quarter rose to $42.36 million from $34.64 million in the same period last year. Analysts estimated revenues of $42.13 million for the quarter.

Further, the company said its board of directors approved a 2.3 percent increase in the company's monthly common stock dividend from a rate of $0.11 per share to $0.1125 per share, commencing with the January 2015 dividend.

The increase equates to an annual dividend of $1.35 per share, or a yield of 6.5 percent based on the quarter ended stock price of $20.71. The board declared a monthly dividend of $0.1125 per common share, for the months of January, February, and March 2015.