Wedge Capital Management L L P NC increased its stake in Stag Industrial, Inc. (NYSE:STAG) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,111,999 shares of the real estate investment trust’s stock after buying an additional 5,198 shares during the period. Wedge Capital Management L L P NC’s holdings in Stag Industrial were worth $58,291,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in Stag Industrial during the fourth quarter worth approximately $1,310,000. Teachers Advisors LLC boosted its position in Stag Industrial by 21.7% in the fourth quarter. Teachers Advisors LLC now owns 140,126 shares of the real estate investment trust’s stock worth $3,345,000 after buying an additional 24,955 shares during the period. Bank of Montreal Can boosted its position in Stag Industrial by 98.4% in the first quarter. Bank of Montreal Can now owns 83,522 shares of the real estate investment trust’s stock worth $2,089,000 after buying an additional 41,428 shares during the period. State of Alaska Department of Revenue boosted its position in Stag Industrial by 30.1% in the first quarter. State of Alaska Department of Revenue now owns 40,500 shares of the real estate investment trust’s stock worth $1,012,000 after buying an additional 9,380 shares during the period. Finally, Retirement Systems of Alabama boosted its position in Stag Industrial by 17.7% in the first quarter. Retirement Systems of Alabama now owns 104,889 shares of the real estate investment trust’s stock worth $2,624,000 after buying an additional 15,800 shares during the period. Institutional investors and hedge funds own 74.44% of the company’s stock.
Stag Industrial, Inc. (NYSE:STAG) opened at 26.70 on Friday. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 99.63 and a beta of 1.22. Stag Industrial, Inc. has a 12-month low of $21.21 and a 12-month high of $28.66. The company has a 50-day moving average price of $27.31 and a 200 day moving average price of $26.11.
Stag Industrial (NYSE:STAG) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $72.20 million for the quarter, compared to analyst estimates of $71.44 million. Stag Industrial had a net margin of 12.22% and a return on equity of 3.97%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. On average, equities research analysts predict that Stag Industrial, Inc. will post ($0.04) EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a dividend of $0.1175 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.41 annualized dividend and a dividend yield of 5.28%. Stag Industrial’s payout ratio is 503.57%.
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A number of research firms have commented on STAG. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Stag Industrial in a research note on Wednesday, August 2nd. BidaskClub cut Stag Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Raymond James Financial, Inc. upped their price target on Stag Industrial from $27.50 to $28.50 and gave the stock an “outperform” rating in a research note on Wednesday. Jefferies Group LLC upped their price target on Stag Industrial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $25.00 price target on shares of Stag Industrial in a research note on Tuesday, May 2nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Stag Industrial currently has an average rating of “Buy” and a consensus target price of $26.93.
About Stag Industrial
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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