PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Tue, April 23, 3:00 AM
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Slide #347. STAG Industrial, Inc. — Preferred Stock Offering
Company:
STAG Industrial, Inc. (NYSE:STAG)
Date announced:
3/10/2016
Shares Offered:
3,000,000
Date of Pricing:
3/10/2016
Price Per Share:
$25.00
Preferred Stock Offering Details:
STAG Industrial, Inc. (the "Company") (NYSE: STAG) today announced the pricing of an underwritten public offering of 3,000,000 shares of its 6.875% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") at a price of $25.00 per share for gross proceeds of $75 million. The offering is expected to close on March 17, 2016, subject to customary closing conditions. The Company intends to list the Series C Preferred Stock on the New York Stock Exchange under the symbol "STAG Pr C."
STAG Industrial is a holding company. Through its subsidiaries, Co. is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties. Co. owns substantially all of its properties and conducts substantially all of its business through its operating partnership, STAG Industrial Operating Partnership, L.P. Co. owns both single- and multi-tenant properties, although the majority of its portfolio is single-tenant.
Preferreds: STAG.PRA, STAG.PRB, STAG.PRC
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Avg. Broker Rec.
  
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Buy (2.55 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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