Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Stag Industrial Inc (NYSE:STAG) by 65.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,631 shares of the real estate investment trust’s stock after selling 10,701 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stag Industrial were worth $155,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of Stag Industrial by 19.1% during the second quarter. Rhumbline Advisers now owns 124,302 shares of the real estate investment trust’s stock worth $3,431,000 after purchasing an additional 19,900 shares during the period. American Century Companies Inc. lifted its holdings in shares of Stag Industrial by 22.2% during the second quarter. American Century Companies Inc. now owns 508,398 shares of the real estate investment trust’s stock worth $14,032,000 after purchasing an additional 92,414 shares during the period. State Street Corp lifted its holdings in shares of Stag Industrial by 11.9% during the second quarter. State Street Corp now owns 1,895,836 shares of the real estate investment trust’s stock worth $52,324,000 after purchasing an additional 200,955 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Stag Industrial by 10.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 87,463 shares of the real estate investment trust’s stock worth $2,414,000 after purchasing an additional 8,423 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Stag Industrial by 11.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,159,878 shares of the real estate investment trust’s stock worth $32,012,000 after purchasing an additional 116,002 shares during the period. Institutional investors and hedge funds own 82.08% of the company’s stock.
Shares of Stag Industrial Inc (STAG) traded down $0.01 during trading hours on Thursday, reaching $27.44. The company’s stock had a trading volume of 406,000 shares, compared to its average volume of 693,697. Stag Industrial Inc has a one year low of $22.64 and a one year high of $28.95. The firm has a market capitalization of $2,582.57, a P/E ratio of 16.44, a PEG ratio of 3.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.09 and a quick ratio of 0.09.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $78.14 million during the quarter, compared to the consensus estimate of $76.17 million. Stag Industrial had a return on equity of 5.72% and a net margin of 18.96%. Stag Industrial’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. equities research analysts anticipate that Stag Industrial Inc will post 1.68 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.1183 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.17%. The ex-dividend date of this dividend is Tuesday, February 27th. Stag Industrial’s payout ratio is 261.12%.
In other news, EVP Peter S. Fearey sold 1,033 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $28.71, for a total transaction of $29,657.43. Following the completion of the transaction, the executive vice president now directly owns 2,506 shares of the company’s stock, valued at approximately $71,947.26. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.00% of the company’s stock.
A number of equities research analysts recently commented on STAG shares. ValuEngine raised Stag Industrial from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub downgraded Stag Industrial from a “hold” rating to a “sell” rating in a report on Friday, October 6th. UBS raised Stag Industrial from a “sell” rating to a “neutral” rating and boosted their price target for the company from $21.00 to $28.00 in a report on Friday, September 8th. Jefferies Group reissued a “buy” rating and issued a $32.00 price target on shares of Stag Industrial in a report on Tuesday, September 26th. Finally, Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Stag Industrial in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $28.25.
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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