Stag Industrial Inc. (STAG) PT Set at $24.00 by Cantor Fitzgerald
Stag Industrial Inc. (NYSE:STAG) has been assigned a $24.00 price target by equities researchers at Cantor Fitzgerald in a research report issued on Thursday. The brokerage currently has a a “hold” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 5.91% from the stock’s current price.
A number of other equities analysts have also recently commented on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $22.00 target price on shares of Stag Industrial in a report on Wednesday, July 6th. Robert W. Baird reaffirmed an “outperform” rating and issued a $26.00 target price on shares of Stag Industrial in a report on Friday, August 26th. Capital One Financial Corp. cut shares of Stag Industrial from an “overweight” rating to an “equal weight” rating and set a $21.00 target price on the stock. in a report on Monday, July 18th. DA Davidson lifted their target price on shares of Stag Industrial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Royal Bank Of Canada lifted their target price on shares of Stag Industrial from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $24.05.
Stag Industrial (NYSE:STAG) traded up 1.90% during mid-day trading on Thursday, hitting $23.09. 511,521 shares of the stock were exchanged. Stag Industrial has a 52-week low of $14.97 and a 52-week high of $25.51. The firm’s market cap is $1.65 billion. The company has a 50 day moving average price of $23.98 and a 200 day moving average price of $22.77.
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Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The business earned $60.24 million during the quarter, compared to the consensus estimate of $54.24 million. Stag Industrial had a negative net margin of 9.21% and a negative return on equity of 3.09%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. On average, analysts anticipate that Stag Industrial will post $1.56 EPS for the current year.
The business also recently declared a monthly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be paid a dividend of $0.1158 per share. The ex-dividend date is Thursday, October 27th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 6.13%. Stag Industrial’s dividend payout ratio (DPR) is presently -272.55%.
In related news, Director Larry T. Guillemette purchased 10,500 shares of the stock in a transaction dated Monday, September 26th. The shares were acquired at an average cost of $24.91 per share, with a total value of $261,555.00. Following the purchase, the director now directly owns 11,882 shares in the company, valued at approximately $295,980.62. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Benjamin S. Butcher purchased 2,000 shares of the stock in a transaction dated Friday, September 9th. The shares were bought at an average cost of $23.81 per share, for a total transaction of $47,620.00. Following the completion of the purchase, the chief executive officer now owns 72,088 shares in the company, valued at $1,716,415.28. The disclosure for this purchase can be found here. Insiders own 2.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Stag Industrial by 3.8% in the second quarter. Vanguard Group Inc. now owns 10,340,067 shares of the company’s stock valued at $246,198,000 after buying an additional 380,002 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Stag Industrial by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,442,670 shares of the company’s stock valued at $58,160,000 after buying an additional 7,424 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Stag Industrial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,403,671 shares of the company’s stock valued at $48,939,000 after buying an additional 648,663 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Stag Industrial by 0.9% in the second quarter. Westwood Holdings Group Inc. now owns 2,057,737 shares of the company’s stock valued at $48,995,000 after buying an additional 18,441 shares in the last quarter. Finally, GW&K Investment Management LLC raised its stake in Stag Industrial by 7.3% in the second quarter. GW&K Investment Management LLC now owns 2,012,957 shares of the company’s stock valued at $47,929,000 after buying an additional 136,708 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.
About Stag Industrial
STAG Industrial, Inc is a real estate investment trust. The Company focuses on the acquisition and operation of single-tenant industrial properties across the United States. The Company owns approximately 290 buildings in over 40 states with approximately 54.7 million rentable square feet, consisting of over 220 warehouse/distribution buildings, approximately 50 light manufacturing buildings and over 20 flex/office buildings.
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