PreferredStockChannel
STAG Industrial Inc | 6.625% Series B Cumulative Redeemable Preferred Stock (STAG.PRB)

This preferred is marked as having been called.
Prospectus excerpt:  We are offering 2,500,000 shares of our 6.625% Series B Cumulative Redeemable Preferred Stock, $0.01 par value per share ("Series B Preferred Stock").

We will pay cumulative dividends on the Series B Preferred Stock from the date of original issue at a rate of 6.625% per annum of the $25.00 liquidation preference per share (equivalent to the fixed annual rate of $1.65625 per share). Dividends on the Series B Preferred Stock will be payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on July 1, 2013. The Series B Preferred Stock will rank senior to our common stock with respect to dividend rights and rights upon our liquidation, dissolution or winding up.

Generally, we are not permitted to redeem the Series B Preferred Stock prior to April 16, 2018, except in limited circumstances relating to our ability to qualify as a real estate investment trust ("REIT"). On or after April 16, 2018, we may, at our option, redeem the Series B Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price of $25.00 per share, plus all accrued and unpaid dividends on such Series B Preferred Stock to, but not including, the redemption date. In addition, upon the occurrence of a change of control, as a result of which neither our common stock, par value $0.01 per share, nor the common securities of the acquiring or surviving entity (or American Depositary Receipts ("ADRs") representing such securities) is listed on the New York Stock Exchange ("NYSE"), the NYSE MKT LLC ("NYSE MKT") or the NASDAQ Stock Market ("NASDAQ"), or listed or quoted on a successor exchange or quotation system, we may, at our option, redeem the Series B Preferred Stock, in whole or in part within 120 days after the first date on which such change of control occurred, by paying $25.00 per share, plus any accrued and unpaid dividends to, but not including, the date of redemption. If we exercise any of our redemption rights relating to the Series B Preferred Stock, the holders of Series B Preferred Stock will not have the conversion right described below. The Series B Preferred Stock has no stated maturity and is not subject to mandatory redemption or any sinking fund. Holders of shares of the Series B Preferred Stock will generally have no voting rights except for limited voting rights if we fail to pay dividends for six or more quarterly periods (whether or not consecutive) and in certain other circumstances.

Full Prospectus PDF », STAG Page »

Series:B
Alternate symbology:STAG-B, STAG-PB, STAGprB
Redeemable?:Yes
Call Date:4/16/2018 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:2,500,000
Overallotment:300,000
Liquidation Preference:$25
Original Coupon:6.63%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
CDx3 Compliance Rating: Learn STAG.PRB's Rating
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.

Preferreds: STAG.PRA, STAG.PRB, STAG.PRC


Open the STAG Information Page »
Name: 
STAG Industrial Inc
Website: 
www.stagindustrial.com
Sector: 
REITs
Number of ETFs Holding STAG: 
49 (see which ones)
Total Market Value Held by ETFs: 
$1,318,634,319.51
Total Market Capitalization: 
$7,400,000,000
% of Market Cap. Held by ETFs: 
17.82%

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