Capital One Financial Corp. Upgrades Stag Industrial Inc. (STAG) to Overweight
Stag Industrial Inc. (NYSE:STAG) was upgraded by stock analysts at Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, The Fly reports.
STAG has been the topic of a number of other reports. RBC Capital Markets reissued an “outperform” rating and issued a $26.00 price objective (up from $22.00) on shares of Stag Industrial in a research note on Friday, August 5th. Cantor Fitzgerald reissued a “hold” rating and issued a $23.50 price objective on shares of Stag Industrial in a research note on Monday, August 22nd. Royal Bank Of Canada raised their price target on shares of Stag Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. Jefferies Group reaffirmed a “hold” rating and set a $22.00 price target on shares of Stag Industrial in a research note on Wednesday, July 6th. Finally, DA Davidson raised their price target on shares of Stag Industrial from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Stag Industrial presently has an average rating of “Hold” and an average price target of $24.05.
Shares of Stag Industrial (NYSE:STAG) opened at 23.06 on Friday. The company’s 50-day moving average is $23.94 and its 200 day moving average is $22.78. The firm’s market cap is $1.65 billion. Stag Industrial has a 52-week low of $14.97 and a 52-week high of $25.51.
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Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.38 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.38. The firm had revenue of $60.24 million for the quarter, compared to analysts’ expectations of $54.24 million. Stag Industrial had a negative net margin of 9.21% and a negative return on equity of 3.09%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. On average, analysts expect that Stag Industrial will post $1.56 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be issued a $0.1158 dividend. The ex-dividend date is Thursday, October 27th. This represents a $1.39 annualized dividend and a yield of 6.03%. Stag Industrial’s payout ratio is -272.55%.
In other Stag Industrial news, Director Larry T. Guillemette purchased 10,500 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were purchased at an average price of $24.91 per share, for a total transaction of $261,555.00. Following the completion of the acquisition, the director now owns 11,882 shares of the company’s stock, valued at approximately $295,980.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Benjamin S. Butcher purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average price of $23.81 per share, for a total transaction of $47,620.00. Following the acquisition, the chief executive officer now directly owns 72,088 shares of the company’s stock, valued at approximately $1,716,415.28. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of STAG. Vanguard Group Inc. raised its position 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 during 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 worth $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 worth $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 worth $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 worth $47,929,000 after buying an additional 136,708 shares in the last quarter. Hedge funds and other institutional investors 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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