Eliot Finkel Investment Counsel LLC Cuts Holdings in Stag Industrial, Inc. $STAG

Eliot Finkel Investment Counsel LLC cut its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,225 shares of the real estate investment trust’s stock after selling 690 shares during the quarter. Stag Industrial makes up about 1.4% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 28th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Stag Industrial were worth $2,185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. boosted its holdings in Stag Industrial by 2.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,110,374 shares of the real estate investment trust’s stock worth $76,564,000 after purchasing an additional 50,525 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its stake in Stag Industrial by 5.5% in the second quarter. Hudson Edge Investment Partners Inc. now owns 17,983 shares of the real estate investment trust’s stock valued at $652,000 after acquiring an additional 934 shares during the last quarter. Hilltop National Bank purchased a new position in Stag Industrial in the second quarter valued at about $108,000. Trust Co. of Vermont boosted its stake in Stag Industrial by 769.3% in the second quarter. Trust Co. of Vermont now owns 4,303 shares of the real estate investment trust’s stock valued at $156,000 after acquiring an additional 3,808 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in Stag Industrial by 8.4% in the second quarter. Truist Financial Corp now owns 9,368 shares of the real estate investment trust’s stock valued at $340,000 after acquiring an additional 722 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on STAG shares. Cantor Fitzgerald started coverage on shares of Stag Industrial in a research note on Wednesday. They issued a “neutral” rating and a $37.00 target price on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stag Industrial in a research note on Saturday, September 27th. Evercore ISI upped their price target on shares of Stag Industrial from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Finally, Industrial Alliance Securities set a $37.00 price target on shares of Stag Industrial in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $38.00.

Stag Industrial Trading Up 0.9%

Shares of STAG opened at $36.23 on Friday. The stock has a market capitalization of $6.76 billion, a P/E ratio of 28.52 and a beta of 0.92. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $35.56 and a two-hundred day simple moving average of $35.10. Stag Industrial, Inc. has a twelve month low of $28.61 and a twelve month high of $39.21.

Stag Industrial (NYSE:STAG) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, hitting the consensus estimate of $0.63. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The firm had revenue of $207.44 million during the quarter, compared to analysts’ expectations of $206.37 million. During the same period last year, the company posted $0.61 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.1242 dividend. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, August 29th. Stag Industrial’s dividend payout ratio (DPR) is presently 117.32%.

Insider Activity

In related news, Director Larry T. Guillemette sold 2,004 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $35.20, for a total value of $70,540.80. Following the completion of the transaction, the director directly owned 38,666 shares in the company, valued at $1,361,043.20. This trade represents a 4.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin S. Butcher sold 25,000 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $36.91, for a total transaction of $922,750.00. Following the completion of the transaction, the director owned 7,562 shares of the company’s stock, valued at approximately $279,113.42. The trade was a 76.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Stag Industrial Company Profile

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.