Stag Industrial Inc (STAG) Receives Buy Rating from Jefferies Group LLC
Stag Industrial Inc (NYSE:STAG)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a research note issued to investors on Monday. They presently have a $26.00 price objective on the stock. Jefferies Group LLC’s target price would indicate a potential upside of 4.88% from the stock’s previous close.
A number of other research firms have also recently weighed in on STAG. Royal Bank of Canada restated a “buy” rating and set a $26.00 target price on shares of Stag Industrial in a research note on Friday. Zacks Investment Research cut shares of Stag Industrial from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Stag Industrial currently has an average rating of “Buy” and an average price target of $25.25.
Shares of Stag Industrial (NYSE:STAG) remained flat at $24.79 on Monday. 572,757 shares of the stock traded hands. The firm has a market capitalization of $2.03 billion, a PE ratio of 86.38 and a beta of 1.15. Stag Industrial has a 1-year low of $19.01 and a 1-year high of $26.24. The stock has a 50 day moving average price of $24.46 and a 200 day moving average price of $23.73.
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Stag Industrial (NYSE:STAG) last issued its quarterly earnings results on Thursday, February 16th. The company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.47. The business had revenue of $66.50 million for the quarter, compared to analysts’ expectations of $55.68 million. Stag Industrial had a negative net margin of 7.25% and a negative return on equity of 2.54%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. Analysts predict that Stag Industrial will post ($0.10) EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 28th will be paid a dividend of $0.1167 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date is Wednesday, April 26th. Stag Industrial’s dividend payout ratio (DPR) is -304.35%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in STAG. Principal Financial Group Inc. boosted its position in Stag Industrial by 686.6% in the third quarter. Principal Financial Group Inc. now owns 2,996,641 shares of the company’s stock worth $73,448,000 after buying an additional 2,615,695 shares during the period. Bank of New York Mellon Corp boosted its position in Stag Industrial by 443.4% in the third quarter. Bank of New York Mellon Corp now owns 2,716,272 shares of the company’s stock worth $66,576,000 after buying an additional 2,216,368 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Stag Industrial by 1.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,475,629 shares of the company’s stock worth $60,678,000 after buying an additional 32,959 shares during the period. GW&K Investment Management LLC boosted its position in Stag Industrial by 13.2% in the third quarter. GW&K Investment Management LLC now owns 2,277,673 shares of the company’s stock worth $55,826,000 after buying an additional 264,716 shares during the period. Finally, Westwood Holdings Group Inc. boosted its position in Stag Industrial by 1.7% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,115,244 shares of the company’s stock worth $50,491,000 after buying an additional 35,428 shares during the period. Institutional investors own 77.41% of the company’s stock.
About Stag Industrial
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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