Financial Stocks Ending Slightly Lower; STAG Industrial Partnership Plans to Sell Up To $150 Mln in Stock


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Financial stocks were lower Monday with the NYSE Financial Sector Index declining 0.4% and the S&P Financial 100 Index falling 0.1%.

In company news, STAG Industrial Operating Partnership LP ( STAG ) was down about 1% in late Monday trading and the real estate investment trust today entering into agreements with Wells Fargo Securities LLC and six other investment banking firms to sell up $150 million of its stock through public offerings and private placements from time to time.

The sales agreements were disclosed Monday in a regulatory filing with the U.S. Securities and Exchange Commission. Under terms of the agreements, STAG can sell some or all of the shares through negotiated transactions with individual or institutional investors without involving the placement agents.

STAG shares were down 1% at $23.01 each shortly before the closing bell, just a penny off its session low. The stock has a 52-week range of $18.76 to $24.71 a share.

In other sector news,

(+) EJ, Chinese real estate services company announces to spin out its Leju Holdings subsidiary through an initial public offering of stock. Separately, Leju enters into strategic pact with Tencent Holdings Ltd. to jointly develop software.

(-) DFT, Yahoo! Inc ( YHOO ) notifies company it plans to sublease two of DFT's data center facilities in Ashburn, Va., to a third party. The leases account for 11% of the company's portfolio and run through September 2015.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
More Headlines for: STAG , YHOO

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