Post Properties turns Profitable in Q1 (STAG, PPS, BOX, MWE)
Stag Industrial Inc(NYSE:STAG) shares fell 0.29% to $13.55 in the after hour trading after the company reported first quarter cash Net Operating Income (Cash NOI) of $15.0 million, Core Funds from Operations (Core FFO) of $7.1 million, and Adjusted Funds From Operations (AFFO) of $7.2 million.
The company also declared a first quarter dividend of $0.26 per share, which is an annualized rate of 7.4% on the quarter ending share price of $13.96.
Post Properties Inc(NYSE:PPS) reported first quarter earnings of $20.9 million, or $0.39 a share, as compared with a year-earlier loss of $421,000, or $0.01 a share. Funds from operations, which excluded the Port Biltmore sales gain, increased to $0.64 a share from $0.37 a share. Revenue rose 9.2% to $80.3 million. Analysts projected FFO at 53 cents a share on $78.9 million in revenue.
Looking forward, the company also raised its full-year view for funds from operations to be in the range of $2.26 to $2.38 a share, up from its February estimate of $2.12 to $2.28.
seacube container leasing ltd(NYSE:BOX) reported first quarter, adjusted net income of $12.5 million, or $0.62 per diluted common share, as compared to $9.3 million in the first quarter of 2011. Total revenue was $49.0 million, as compared to $36.8 million for the first quarter of 2011. The Company reported net income of $11.3 million, as compared to $10.1 million in the year ago period.
Moreover, the Company`s Board of Directors approved and declared a $0.28 per share cash dividend on its issued and outstanding common shares, payable on June 14, 2012 to shareholders of record at the close of business on June 7, 2012.
Markwest Energy Partners LP(NYSE:MWE) reported first-quarter net income of $16 million or $0.14 per unit, as compared to a net loss of $84 million or $1.1 per unit last year. Revenue was $350.5 million, compared to $263 million a year ago. Analysts expected earnings of $0.56 per share and revenue of $414.36 million for the quarter.