Virtus ETF Advisers LLC lowered its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 4.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 42,579 shares of the real estate investment trust’s stock after selling 2,075 shares during the quarter. STAG Industrial comprises about 0.7% of Virtus ETF Advisers LLC’s portfolio, making the stock its 24th largest position. Virtus ETF Advisers LLC’s holdings in STAG Industrial were worth $1,298,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can boosted its holdings in shares of STAG Industrial by 465.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 568,584 shares of the real estate investment trust’s stock worth $61,354,000 after purchasing an additional 468,059 shares during the last quarter. Resources Management Corp CT ADV lifted its holdings in STAG Industrial by 2,517.6% in the third quarter. Resources Management Corp CT ADV now owns 11,910 shares of the real estate investment trust’s stock valued at $363,000 after acquiring an additional 11,455 shares during the last quarter. AlphaCrest Capital Management LLC lifted its holdings in STAG Industrial by 83.9% in the third quarter. AlphaCrest Capital Management LLC now owns 13,965 shares of the real estate investment trust’s stock valued at $426,000 after acquiring an additional 6,373 shares during the last quarter. Neuberger Berman Group LLC raised its position in STAG Industrial by 0.7% in the third quarter. Neuberger Berman Group LLC now owns 269,702 shares of the real estate investment trust’s stock valued at $8,223,000 after purchasing an additional 1,846 shares during the period. Finally, FCA Corp TX purchased a new stake in STAG Industrial in the third quarter valued at approximately $183,000. Institutional investors and hedge funds own 93.39% of the company’s stock.
Several equities analysts have issued reports on STAG shares. Wells Fargo & Company upped their price objective on shares of STAG Industrial from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Robert W. Baird downgraded shares of STAG Industrial from an “outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Tuesday, September 22nd. Bank of America raised their price objective on shares of STAG Industrial from $28.00 to $30.00 and gave the company an “underperform” rating in a research report on Monday, November 16th. Citigroup raised their price objective on shares of STAG Industrial from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $36.00 price objective on shares of STAG Industrial in a research report on Tuesday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $34.10.
Shares of NYSE:STAG traded down $0.17 during midday trading on Monday, hitting $29.90. 6,281 shares of the company’s stock traded hands, compared to its average volume of 1,253,566. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.84 and a current ratio of 2.84. The company has a market cap of $4.49 billion, a PE ratio of 41.12, a P/E/G ratio of 5.27 and a beta of 1.12. The firm’s fifty day moving average price is $31.66 and its two-hundred day moving average price is $30.41. STAG Industrial, Inc. has a twelve month low of $17.54 and a twelve month high of $34.50.
STAG Industrial (NYSE:STAG) last announced its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.31). STAG Industrial had a net margin of 24.61% and a return on equity of 4.97%. The business had revenue of $117.30 million for the quarter, compared to the consensus estimate of $117.10 million. During the same period in the prior year, the company earned $0.46 EPS. STAG Industrial’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts anticipate that STAG Industrial, Inc. will post 1.86 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Wednesday, December 30th. STAG Industrial’s dividend payout ratio (DPR) is presently 78.26%.
STAG Industrial Company Profile
STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.
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