Stag Industrial Q4 Earnings Beat Analyst Estimates
BOSTON, MA - Stag Industrial Inc. (STAG) announced solid financial results for the fourth quarter of fiscal 2023. The company surpassed Wall Street expectations in key profitability metrics.
Earnings Highlights:
* Funds from operations (FFO): $113.5 million ($0.61 per share) vs. consensus estimate of $0.60 per share
* Net income: $50.9 million ($0.28 per share)
* Revenue: $199.3 million, exceeding estimates of $192.7 million
Annual Results:
* Annual FFO: $446.5 million
* Annual revenue: $767.4 million
Analysts attribute Stag's strong performance to its industrial real estate portfolio and efficient operations. The company's focus on strategic acquisitions and asset management contributed to its growth.
Shares of STAG were trading slightly lower in pre-market trading following the earnings release.