Stag Industrial, Inc. (STAG) Earns “Buy” Rating from Jefferies Group LLC
Stag Industrial, Inc. (NYSE:STAG)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group LLC in a report released on Sunday. They presently have a $32.00 price target on the real estate investment trust’s stock, up from their previous price target of $30.00. Jefferies Group LLC’s target price indicates a potential upside of 17.43% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Cantor Fitzgerald reissued a “hold” rating and issued a $25.00 price objective on shares of Stag Industrial in a research note on Tuesday, May 2nd. BidaskClub downgraded Stag Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Stag Industrial in a research note on Wednesday, May 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $26.00 price objective on shares of Stag Industrial in a research note on Friday, March 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $26.57.
Shares of Stag Industrial (STAG) traded down 1.05% during midday trading on Friday, reaching $27.25. 3,962,408 shares of the company traded hands. Stag Industrial has a 1-year low of $21.21 and a 1-year high of $28.75. The firm has a market capitalization of $2.42 billion, a PE ratio of 223.36 and a beta of 1.25. The stock has a 50 day moving average price of $26.97 and a 200 day moving average price of $25.18.
Stag Industrial (NYSE:STAG) last posted its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Stag Industrial had a return on equity of 3.21% and a net margin of 8.48%. The firm had revenue of $69.48 million during the quarter, compared to the consensus estimate of $68.57 million. Analysts expect that Stag Industrial will post ($0.04) earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date is Thursday, September 28th. Stag Industrial’s payout ratio is 1,555.73%.
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Several hedge funds have recently modified their holdings of STAG. Vanguard Group Inc. increased its stake in shares of Stag Industrial by 12.0% in the first quarter. Vanguard Group Inc. now owns 12,690,886 shares of the real estate investment trust’s stock worth $317,526,000 after buying an additional 1,364,728 shares during the last quarter. BlackRock Inc. increased its stake in shares of Stag Industrial by 1,758.0% in the first quarter. BlackRock Inc. now owns 8,449,687 shares of the real estate investment trust’s stock worth $211,412,000 after buying an additional 7,994,905 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Stag Industrial by 36.1% in the first quarter. Bank of New York Mellon Corp now owns 4,303,925 shares of the real estate investment trust’s stock worth $107,683,000 after buying an additional 1,142,675 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Stag Industrial by 18.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,623,228 shares of the real estate investment trust’s stock worth $65,632,000 after buying an additional 407,966 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in shares of Stag Industrial by 19.4% in the first quarter. Westwood Holdings Group Inc. now owns 2,525,214 shares of the real estate investment trust’s stock worth $63,181,000 after buying an additional 409,970 shares during the last quarter. 77.21% of the stock is owned by hedge funds and other institutional investors.
Stag Industrial Company Profile
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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