STAG Industrial, Inc. (STAG) saw its loss narrow to $0.18 million, or $0.06 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $4.32 million, or $0.11 a share. On an adjusted basis, net profit for the quarter was $30.97 million, when compared with $28.44 million in the last year period.
Revenue during the quarter grew 11.93 percent to $62.60 million from $55.92 million in the previous year period.
Total expenses were almost stable at $53.14 million, when compared with the previous year period. Operating margin for the quarter expanded 988 basis points over the previous year period to 15.11 percent.
Operating income for the quarter was $9.46 million, compared with $2.92 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $46.15 million compared with $40.90 million in the prior year period. At the same time, adjusted EBITDA margin improved 59 basis points in the quarter to 73.73 percent from 73.13 percent in the last year period.
Revenue from real estate activities during the quarter increased 11.88 percent or $6.63 million to $62.42 million.
Revenue from tenant reimbursements was $8.91 million for the quarter, up 10.52 percent or $0.85 million from year-ago period.
Revenue from other real estate activities during the quarter was $53.51 million, up 12.11 percent or $5.78 million from year-ago period.
Other income during the quarter was $0.17 million, up 36.22 percent or $0.05 million from year-ago period.
“We are pleased with our performance this year and our expectations for the fourth quarter and beyond,” said Ben Butcher, chief executive officer of the Company. ”We will continue to focus on growing the bottom line and delivering the best risk adjusted returns to our shareholders.”
Receivables move up
Net receivables were at $23.30 million as on Sep. 30, 2016, up 13.81 percent or $2.83 million from year-ago.
Total assets grew 12.30 percent or $224.34 million to $2,048.54 million on Sep. 30, 2016. On the other hand, total liabilities were at $1,114.60 million as on Sep. 30, 2016, up 19.94 percent or $185.33 million from year-ago.
Return on assets moved up 24 basis points to 0.49 percent in the quarter. Return on equity for the quarter stood at negative 0.46 percent as compared to a negative 0.80 percent for the previous year period.
Debt moves up
Total debt was at $1,024.80 million as on Sep. 30, 2016, up 19.12 percent or $164.48 million from year-ago. Shareholders equity stood at $933.94 million as on Sep. 30, 2016, up 4.36 percent or $39.01 million from year-ago. As a result, debt to equity ratio went up 14 basis points to 1.10 percent in the quarter.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
