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STAG Industrial (STIR) |
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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
STAG Industrial (NYSE:STIR) a Real Estate Investment Trust (REIT) which focuses on the acquisition of single-tenant industrial properties in the United States. After the completion of its IPO, STAG will have a portfolio of 91 properties consisting of a total 13.9M rentable square feet across 26 states. STAG focuses on Class B properties - properties that are 10-50 years old, have average to good maintenance, and are functional. As a result, STAG purchases its properties on secondary markets, which it believes tend to have lower volatility. Each of these properties range in prices from $5M to $25M. STAG makes money by renting its properties to tenants and by selling its properties and realizing a capital gain .[1]
STAG's investments depend primarily on the housing market and the industrial sector. While the supply of new, Class A properties remain low, the prices of the Class B properties that STAG owns will rise. In addition, the strengthening industrial sector will increase demand of for warehouses and industrial buildings that STAG owns. [2]
The company's initial public offering of stock on the NYSE occurred on April 14, 2011. The company offered 13.75M shares each for $13. This was below the $15-$17 initial price range. This offering raised a total of $179M. The lead underwriter of the IPO were Bank of America (BAC), J P Morgan Chase (JPM), and UBS AG (UBS).[3]
For the full year 2010, STAG's total revenue was $53M, while its net income was $1.8M. [4]
References
- ↑ STIR S-11/A 2011 PROSPECTUS SUMMARY "Overview" pg 1
- ↑ STIR S-11/A 2011 PROSPECTUS SUMMARY "Summary of Risk Factors" pg 10
- ↑ Renaissance Capital - IPO Home "STAG Industrial prices IPO at $13, below the range" 15 April 2011
- ↑ STIR S-11/A 2011 PROSPECTUS SUMMARY "Summary Financial Information" pg 23
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