Key Developments: STAG Industrial Inc (STAG.N)
20.47USD
2 Aug 2013
$0.18 (+0.89%)
$20.29
$20.25
$20.52
$20.25
9,762
104,212
$24.35
$14.17
Latest Key Developments (Source: Significant Developments)
STAG Industrial Inc Announces Acquisition
STAG Industrial Inc announced its acquisitions and leasing activity for May 2013. The Company acquired two warehouse and distribution facilities containing a total of 337,380 square feet for approximately $18.5 million. These properties were acquired in individual transactions and are located in Mount Prospect, Illinois, and Williamsport, Pennsylvania. The properties are 100% leased with a weighted average lease term remaining of over seven years. Full Article
STAG Industrial Inc Declares Second Quarter Dividends For Its Common Stock And Preferred Stocks
STAG Industrial Inc announced that Board of Directors declared a second quarter common stock dividend of $0.30 per share, payable on July 15, 2013 to all common stockholders of record on June 28, 2013. The Company's Board of Directors also declared a June 14, 2013 record date for the payment of the second quarter preferred stock dividends for its 9.0% Series A Cumulative Redeemable Preferred Stock and its 6.625% Series B Cumulative Redeemable Preferred Stock (NYSE: STAG Pr B). The Company confirmed that the dividend for the Series A Cumulative Redeemable Preferred Stock is $0.5625 per share, which equates to $2.25 per share on an annualized basis, and the dividend for the Series B Cumulative Redeemable Preferred Stock is $0.34505 per share (prorated for the period April 16, 2013 to June 30, 2013), which equates to $1.66 per share on an annualized basis. Both preferred stock dividends will be payable on July 1, 2013. Full Article
STAG Industrial Inc Announces Acquisition Of Three Warehouse And Distribution Facilities And One Light Manufacturing Facility
STAG Industrial Inc announced that the Company acquired three warehouse and distribution facilities and one light manufacturing facility containing a total of 713,758 square feet for approximately $32 million. These properties were acquired in individual transactions and are located in Mishawaka, Indiana, Idaho Falls, Idaho, Houston, Texas, and Southfield, Michigan. The properties are 100% leased with a weighted average lease term remaining of over five years. Full Article
STAG Industrial Inc Announces Pricing Of 2,500,000 Shares Of 6.625% Series B Cumulative Redeemable Preferred Stock
STAG Industrial Inc announced the pricing of an underwritten public offering of 2,500,000 shares of its 6.625% Series B Cumulative Redeemable Preferred Stock (the Series B Preferred Stock) at a price of $25.00 per share for gross proceeds of $62,500,000. The offering is expected to close on April 16, 2013, subject to customary closing conditions. The Company has granted the underwriters of the offering a 30-day option to purchase up to an additional 300,000 sharesof Series B Preferred Stock. The Company intends to apply to list the Series B Preferred Stock on the New York Stock Exchange under the symbol STAG Pr B. The Company's operating partnership intends to use the net proceeds from the offering to repay indebtedness outstanding under the Company's unsecured corporate revolving credit facility (which indebtedness was used to fund recent acquisitions), to fund acquisitions currently under contract, for general working capital purposes or a combination of the foregoing. Raymond James & Associates, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC, and Wells Fargo Securities, LLC acted as the joint book-running managers for the offering. Full Article
STAG Industrial Inc Increases Common Stock Dividend By 11.1%
STAG Industrial Inc announced that its Board of Directors approved an 11.1% increase in the Company's annual common stock dividend from the current annual rate of $1.08 per share to $1.20 per share. In reviewing its dividend policy, the Board determined that it will continue to evaluate the Company's dividend each quarter. This increase commences with the payment of the first quarter common stock dividend, payable on April 15, 2013 to all common stockholders of record on March 28, 2013, and will amount to $0.30 per share on a quarterly basis. The Company's Board of Directors also declared a March 15, 2013 record date for the payment of the first quarter preferred stock dividend for the Company's 9.0% Series A Cumulative Redeemable Preferred Stock. The Company confirmed that the dividend is $0.5625 per share, or $2.25 per share on an annualized basis and will be payable on April 1, 2013. Full Article
STAG Industrial Inc Announces Upsizing And Pricing Of Public Offering Of Common Stock
STAG Industrial Inc announced that the pricing of an underwritten public offering of common stock at a price to the public of $18.30 per share. The size of the offering has been upsized from 5,000,000 shares to 5,464,480 shares. The offering is expected to close on January 22 , 2013. The Company granted the underwriters of the offering a 30-day option to purchase up to an additional 819,672 shares of common stock. The Company intends to use the net proceeds of the offering to repay indebtedness outstanding under its unsecured corporate revolving credit facility (which indebtedness was used to fund recent acquisitions), to fund acquisitions currently under contract, for general working capital purposes, or a combination of the foregoing. Full Article
STAG Industrial Inc Announces Public Offering Of Common Stock
STAG Industrial Inc announced that the commencement of an underwritten public offering of 5,000,000 shares of its common stock. The Company intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 750,000 shares of common stock. The Company intends to use the net proceeds of the offering to repay indebtedness outstanding under its unsecured corporate revolving credit facility (which indebtedness was used to fund recent acquisitions), to fund acquisitions currently under contract, for general working capital purposes, or a combination of the foregoing. Full Article
STAG Industrial Inc Announces At-The-Market Equity Program
STAG Industrial Inc announced that it has filed a prospectus supplement under which it may from time to time sell an aggregate of up to $75 million of its shares of common stock through an at-the-market offering program. The shares may be offered through RBC Capital Markets, BofA Merrill Lynch, Raymond James, UBS Investment Bank, or Wells Fargo Securities, each of whom may act as sales agent. Sales are anticipated to be made primarily in transactions that are deemed to be "at-the-market" offerings, including sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange. Sales may also be made in negotiated transactions. The Company intends to use any proceeds of the offering to fund acquisitions, to repay indebtedness, including amounts outstanding under its unsecured corporate revolving credit facility and for working capital and other general corporate purposes. Full Article
STAG Industrial Inc Announces Acquisition Of $16.2 Million Warehouse And Distribution Facility
STAG Industrial Inc announced the acquisition of a warehouse and distribution facility containing a total of 357,673 square feet for approximately $16.2 million located in Harrisonburg, Virginia. The building is 100% leased to Plygem Holdings, Inc. with a remaining lease term of over 5 years. Ply Gem Holdings, Inc., together with its subsidiaries, manufactures and sells residential and commercial exterior building products primarily in the United States and Canada. The Company distributes siding and siding accessories from this facility. Full Article
STAG Industrial Inc Declares Fourth Quarter Dividends For Common Stock And Preferred Stock
STAG Industrial Inc announced that its Board of Directors declared a fourth quarter common stock dividend of $0.27 per share, payable on January 15, 2013 to all common stockholders of record on December 31, 2012. Full Article
Fitch Assigns Initial 'BBB-' IDR to STAG Industrial, Inc.; Outlook Positive
(The following statement was released by the rating agency) NEW YORK, June 04 (Fitch) Fitch Ratings has assigned initial credit ratings to STAG Industrial, Inc. (NYSE: STAG) and its operating partnership, STAG Industrial Operating Partnership, L.P. (collectively, STAG or the company) as follows: STAG Industrial, Inc. --Issuer Default Rating (IDR) 'BBB-'; --$139 million preferred stock 'BB'. STAG Industrial Operating Partnership, L.P. --$200 million senior unsecured revolving credit facility

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