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BOSTON—Larry Guillemette, a director at STAG Industrial, Inc. (NYSE:STAG), recently sold 6,000 shares of the company’s common stock. The transaction, which took place on March 5, was executed at an average price of $36.3152 per share, amounting to a total sale value of $217,891. Following this sale, Guillemette retains ownership of 38,666 shares in the real estate investment trust, which specializes in industrial properties. The company, currently valued at $6.91 billion, offers a notable 4.02% dividend yield and has maintained dividend payments for 15 consecutive years, according to InvestingPro data.
This transaction was documented in a filing with the Securities and Exchange Commission, highlighting Guillemette’s direct ownership status. The sale reflects a portion of Guillemette’s holdings in the Boston-based company, which continues to focus on acquiring and operating industrial properties across the United States. InvestingPro analysis indicates the stock is trading at a high earnings multiple, with technical indicators suggesting overbought conditions. For deeper insights into insider trading patterns and comprehensive analysis, explore InvestingPro’s detailed research reports.
In other recent news, STAG Industrial, Inc. reported fourth-quarter earnings that exceeded analyst expectations. The company posted adjusted funds from operations of $0.61 per share, surpassing the consensus estimate of $0.58 per share. Revenue for the quarter reached $199.3 million, topping projections of $193.7 million. Net income for the quarter increased to $52 million, or $0.28 per share, compared to $42.6 million, or $0.23 per share, in the same period last year. Additionally, STAG Industrial’s same-store cash net operating income rose 4.4% year-over-year.
In other developments, STAG Industrial filed a new registration statement with the SEC to continue its at-the-market offering program, allowing the company to sell up to $750 million in common stock. Approximately $510.5 million worth of shares remain available for sale under this program. Amendments to equity distribution agreements were also made with several financial institutions, reflecting the new registration statement. These actions are part of STAG Industrial’s strategy to maintain flexibility in financing its operations and growth.
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