Stag Industrial (NYSE:STAG – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.
STAG has been the subject of several other reports. Robert W. Baird set a $138.00 price target on Stag Industrial in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stag Industrial in a research report on Friday, July 31st. Wells Fargo & Company dropped their price objective on Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Evercore reissued an “outperform” rating and issued a $44.00 price objective on shares of Stag Industrial in a report on Wednesday, April 29th. Finally, Raymond James Financial began coverage on shares of Stag Industrial in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 target price for the company. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.50.
Read Our Latest Report on Stag Industrial
Stag Industrial Trading Up 0.1%
Stag Industrial (NYSE:STAG – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.37). The company had revenue of $224.37 million during the quarter, compared to the consensus estimate of $223.04 million. Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. Stag Industrial’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, equities analysts forecast that Stag Industrial will post 2.63 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Stag Industrial during the 2nd quarter valued at $1,097,126,000. State Street Corp increased its holdings in shares of Stag Industrial by 1.5% in the second quarter. State Street Corp now owns 9,539,842 shares of the real estate investment trust’s stock valued at $347,261,000 after purchasing an additional 142,132 shares during the last quarter. Norges Bank bought a new position in shares of Stag Industrial in the fourth quarter valued at about $295,644,000. Alliancebernstein L.P. raised its position in shares of Stag Industrial by 4.3% in the second quarter. Alliancebernstein L.P. now owns 3,950,923 shares of the real estate investment trust’s stock valued at $143,339,000 after purchasing an additional 162,887 shares during the period. Finally, Geode Capital Management LLC lifted its position in Stag Industrial by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,830,915 shares of the real estate investment trust’s stock worth $140,851,000 after acquiring an additional 65,502 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.
About Stag Industrial
Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company’s portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.
Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.
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