Latest news with #STAG
BBC News
09-06-2025
- Politics
- BBC News
Hebburn's Durham Court demolition decision to be reviewed by council
A decision to demolish an 18-storey tower block and rehouse its elderly residents is to be reconsidered. South Tyneside Council's Labour cabinet had unanimously voted to pull down Durham Court, in Hebburn, which was built in 1974. However, the local authority's scrutiny committee has decided to reconsider the move, after an outcry from residents, and voted in favour of the issue going back to the cabinet for further discussions. Resident Colin Rosner, who attended the meeting, said he hoped to live in the tower for the rest of his life. The block, which is the last remaining residential high-rise building in the town, was deemed to have outlived its "original intended lifespan" of 50 years and carrying out repairs, costing an estimated £12m, were not worth it. The request for a call-in of the demolition decision was recently signed by opposing councillors from across the political board, including South Tyneside Alliance Group (STAG) representatives, independents and one Green Group councillor. STAG's Andrew Guy previously said the demolition would be an "appalling mistake"."This is about proper accountability," he said."Decisions of this scale shouldn't be signed off without full and open consideration of the long-term impact on residents, services and public investment."It was previously revealed that if the demolition went ahead, residents would face the upheaval of being rehoused over a possible five-year period. However, the council promised tenants it would find new homes for them in after the meeting, Labour chair of the scrutiny committee, John Gerard McCabe, said: "The cabinet can look at that decision again, review it and come up with hopefully a good solution." Follow BBC North East on X, Facebook, Nextdoor and Instagram.
BBC News
04-06-2025
- General
- BBC News
Hebburn's Durham Court demolition decision to be re-examined
A decision to demolish an 18-storey tower block and rehouse its elderly residents is to be re-examined next Tyneside Council's Labour cabinet recently unanimously agreed plans for the future of Durham Court, the last remaining residential high-rise building in block, built in 1974, was deemed to have outlived its "original intended lifespan" of 50 years and that carrying out repairs costing an estimated £12m were not worth it. But the decision to tear it down will now go before a council scrutiny committee on 9 June after concerns were raised. This means a public meeting of the panel will be held to decide whether the move should be referred back to the cabinet for request for the call-in was recently signed by opposing councillors from across the political board, including South Tyneside Alliance Group (STAG) representatives, independents and one Green Group councillor. STAG's Andrew Guy said the demolition would be an "appalling mistake". "This is about proper accountability," he told the Local Democracy Reporting Service. "Decisions of this scale shouldn't be signed off without full and open consideration of the long-term impact on residents, services and public investment."It was previously revealed that if the demolition goes ahead residents would face the upheaval of being rehoused over a possible five-year period. However, the Labour-led local authority has promised tenants it will find new homes for them in in May, council leader Tracey Dixon said: "We will ensure right from the very beginning that the tenants will be given the homes of their choice."It's all about giving them priority."We know Durham Court is their family home, so we're here to support them and make sure they lead healthy and happy lives." Follow BBC Tees on X, Facebook, Nextdoor and Instagram.
Yahoo
28-05-2025
- Business
- Yahoo
Positive Momentum Ahead for STAG, According to Jefferies
With earnings season mostly wrapped up, Jefferies has pointed to a few standout companies that appear well-positioned for the road ahead. Among those is STAG Industrial, Inc. (NYSE:STAG), which the firm recently highlighted as one of several buy-rated stocks that beat earnings expectations and offered strong guidance. STAG Industrial, Inc. (NYSE:STAG) currently offers a dividend yield of 4.21% and has risen by over 7.5% so far this year. The real estate investment trust owns a broad mix of industrial real estate, including warehouses and light manufacturing properties. Based on Tuesday's closing price, Jefferies believes the stock has about 29% upside to its $45 price target. In the first quarter, STAG Industrial, Inc. (NYSE:STAG) reported core funds from operations of $0.61 per share, slightly ahead of the $0.60 estimate from FactSet. Revenue reached $205.6 million, also beating the analyst consensus of $201.1 million. Analyst Jonathan Petersen noted a 27.3% increase in cash-leasing spreads, which measure the difference in rent from new and renewed leases compared to those that expired. He made the following comment: "We expect leasing spreads will continue to trend positively vs coastal peers over the next few years driven by demand related to onshoring of manufacturing and supply chain reconfiguration." STAG Industrial, Inc. (NYSE:STAG) is a solid dividend payer that offers monthly dividends to shareholders. The company has kept its dividend steady since 2011. While we acknowledge the potential of STAG as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than STAG but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the . READ MORE: and Disclosure. None. Sign in to access your portfolio
Yahoo
28-05-2025
- Business
- Yahoo
Positive Momentum Ahead for STAG, According to Jefferies
With earnings season mostly wrapped up, Jefferies has pointed to a few standout companies that appear well-positioned for the road ahead. Among those is STAG Industrial, Inc. (NYSE:STAG), which the firm recently highlighted as one of several buy-rated stocks that beat earnings expectations and offered strong guidance. STAG Industrial, Inc. (NYSE:STAG) currently offers a dividend yield of 4.21% and has risen by over 7.5% so far this year. The real estate investment trust owns a broad mix of industrial real estate, including warehouses and light manufacturing properties. Based on Tuesday's closing price, Jefferies believes the stock has about 29% upside to its $45 price target. In the first quarter, STAG Industrial, Inc. (NYSE:STAG) reported core funds from operations of $0.61 per share, slightly ahead of the $0.60 estimate from FactSet. Revenue reached $205.6 million, also beating the analyst consensus of $201.1 million. Analyst Jonathan Petersen noted a 27.3% increase in cash-leasing spreads, which measure the difference in rent from new and renewed leases compared to those that expired. He made the following comment: "We expect leasing spreads will continue to trend positively vs coastal peers over the next few years driven by demand related to onshoring of manufacturing and supply chain reconfiguration." STAG Industrial, Inc. (NYSE:STAG) is a solid dividend payer that offers monthly dividends to shareholders. The company has kept its dividend steady since 2011. While we acknowledge the potential of STAG as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than STAG but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the . READ MORE: and Disclosure. None.
Yahoo
27-05-2025
- Business
- Yahoo
Barclays Maintains Hold Rating on STAG Industrial (STAG) Stock
In a report released on May 27, Brendan Lynch from Barclays maintained a Hold rating on STAG Industrial, Inc. (NYSE:STAG) with a price target of $37.00. The rating followed the company's fiscal Q1 2025 results, which reported $0.49 in net income per basic and diluted common share, compared to $0.20 in the same quarter last year. Net income for the quarter came up to $91.3 million compared to $36.6 million in fiscal Q1 2024. Aerial view of a large industrial property, with its single-tenant structure. Management reported that it was too early to quantify the potential impact of tariffs on the business and that it is witnessing some lengthening in lease gestation periods due to macroeconomic events. STAG Industrial, Inc. (NYSE:STAG) is a real estate investment company that acquires, owns, and manages industrial real estate assets. While we acknowledge the potential of STAG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than STAG and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None.
