Commerce Bank purchased a new position in shares of Stag Industrial, Inc. (NYSE:STAG – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 168,347 shares of the real estate investment trust’s stock, valued at approximately $6,407,000. Commerce Bank owned 0.09% of Stag Industrial at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in STAG. BlackRock Inc. acquired a new stake in shares of Stag Industrial in the 2nd quarter valued at $1,097,126,000. Norges Bank bought a new stake in shares of Stag Industrial during the 4th quarter worth $295,644,000. Bank of New York Mellon Corp acquired a new stake in Stag Industrial in the second quarter valued at about $58,805,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Stag Industrial by 434,005.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,098,286 shares of the real estate investment trust’s stock valued at $40,373,000 after acquiring an additional 1,098,033 shares during the last quarter. Finally, Heitman Real Estate Securities LLC bought a new position in Stag Industrial in the fourth quarter valued at about $33,558,000. 88.67% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
STAG has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. Wall Street Zen downgraded shares of Stag Industrial from a “hold” rating to a “sell” rating in a report on Monday. Raymond James Financial started coverage on Stag Industrial in a report on Wednesday, June 17th. They set an “outperform” rating and a $44.00 price objective on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Stag Industrial in a research report on Friday, July 31st. Finally, Robert W. Baird set a $138.00 target price on Stag Industrial in a research report on Friday, July 31st. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.50.
Stag Industrial Stock Performance
NYSE STAG opened at $36.68 on Monday. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 28.22 and a beta of 0.96. Stag Industrial, Inc. has a twelve month low of $34.40 and a twelve month high of $42.61. The stock has a fifty day simple moving average of $38.66 and a 200 day simple moving average of $38.34. 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:STAG – Get Free Report) last issued its quarterly earnings results 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). Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. The company had revenue of $224.37 million during the quarter, compared to analyst estimates of $223.04 million. During the same period in the previous year, the company posted $0.63 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts expect that Stag Industrial, Inc. will post 2.63 EPS for the current year.
Stag Industrial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Stag Industrial’s dividend payout ratio is currently 119.23%.
Stag Industrial Company Profile
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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