Renaissance Technologies LLC Makes New $3.44 Million Investment in Stag Industrial, Inc. $STAG

Renaissance Technologies LLC purchased a new position in Stag Industrial, Inc. (NYSE:STAGFree Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,500 shares of the real estate investment trust’s stock, valued at approximately $3,444,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC lifted its stake in shares of Stag Industrial by 17.6% during the 1st quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 1,491 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Stag Industrial by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock worth $60,391,000 after buying an additional 451,355 shares in the last quarter. Empowered Funds LLC purchased a new stake in Stag Industrial in the 1st quarter worth $229,000. EverSource Wealth Advisors LLC raised its holdings in Stag Industrial by 270.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 1,048 shares during the period. Finally, First Trust Advisors LP raised its holdings in Stag Industrial by 173.4% during the second quarter. First Trust Advisors LP now owns 177,756 shares of the real estate investment trust’s stock valued at $6,449,000 after acquiring an additional 112,747 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Stag Industrial Stock Up 1.3%

Shares of STAG stock opened at $37.28 on Friday. The company’s fifty day simple moving average is $38.80 and its two-hundred day simple moving average is $38.36. Stag Industrial, Inc. has a 52 week low of $34.18 and a 52 week high of $42.61. The stock has a market cap of $7.19 billion, a P/E ratio of 28.68 and a beta of 0.96. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.93.

Stag Industrial (NYSE:STAGGet Free Report) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.37). The firm had revenue of $224.37 million during the quarter, compared to the consensus estimate of $223.04 million. Stag Industrial had a return on equity of 6.79% and a net margin of 28.04%.The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. Analysts predict that Stag Industrial, Inc. will post 2.63 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.3875 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.55 dividend on an annualized basis and a yield of 4.2%. Stag Industrial’s payout ratio is presently 119.23%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STAG. Robert W. Baird set a $138.00 price objective on Stag Industrial in a research note on Friday, July 31st. Wall Street Zen downgraded Stag Industrial from a “hold” rating to a “sell” rating in a research note on Saturday. Barclays boosted their price target on Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Wells Fargo & Company cut their price objective on shares of Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Finally, Evercore reaffirmed an “outperform” rating and set a $44.00 price objective on shares of Stag Industrial in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.50.

Read Our Latest Stock Analysis on Stag Industrial

Stag Industrial Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Stag Industrial (NYSE:STAG)

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