Pacific Heights Asset Management LLC Boosts Stake in Stag Industrial, Inc. $STAG

Pacific Heights Asset Management LLC raised its holdings in Stag Industrial, Inc. (NYSE:STAG) by 140.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 300,000 shares of the real estate investment trust’s stock after acquiring an additional 175,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Stag Industrial were worth $10,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STAG. Private Trust Co. NA boosted its position in Stag Industrial by 2,183.9% in the 2nd quarter. Private Trust Co. NA now owns 708 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 677 shares during the period. Chung Wu Investment Group LLC purchased a new position in Stag Industrial in the 2nd quarter valued at approximately $29,000. Tsfg LLC purchased a new position in Stag Industrial in the 1st quarter valued at approximately $32,000. Avalon Trust Co acquired a new stake in shares of Stag Industrial in the 1st quarter valued at $36,000. Finally, Keystone Global Partners LLC acquired a new stake in shares of Stag Industrial in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

STAG has been the topic of a number of analyst reports. Evercore ISI raised their price objective on shares of Stag Industrial from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Cantor Fitzgerald initiated coverage on shares of Stag Industrial in a report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Stag Industrial in a report on Wednesday, October 8th. Finally, Industrial Alliance Securities set a $37.00 price objective on shares of Stag Industrial in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Stag Industrial presently has an average rating of “Hold” and a consensus target price of $38.00.

Stag Industrial Price Performance

Shares of NYSE:STAG opened at $38.58 on Wednesday. The company’s fifty day moving average price is $36.12 and its 200 day moving average price is $35.27. Stag Industrial, Inc. has a 12 month low of $28.61 and a 12 month high of $38.98. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market capitalization of $7.20 billion, a P/E ratio of 30.38 and a beta of 0.92.

Stag Industrial (NYSE:STAG) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, meeting analysts’ consensus estimates of $0.63. The company had revenue of $207.44 million for the quarter, compared to analyst estimates of $206.37 million. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. Stag Industrial’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share. As a group, sell-side analysts predict that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

Stag Industrial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.1242 dividend. The ex-dividend date is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 3.9%. Stag Industrial’s payout ratio is currently 117.32%.

Insiders Place Their Bets

In other Stag Industrial news, Director Benjamin S. Butcher sold 25,000 shares of Stag Industrial stock in a transaction on Friday, September 5th. The shares were sold at an average price of $36.91, for a total value of $922,750.00. Following the transaction, the director directly owned 7,562 shares in the company, valued at approximately $279,113.42. The trade was a 76.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Larry T. Guillemette sold 2,004 shares of Stag Industrial stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $35.20, for a total transaction of $70,540.80. Following the completion of the transaction, the director owned 38,666 shares in the company, valued at approximately $1,361,043.20. This represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Stag Industrial 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.