Zacks: Analysts Expect Stag Industrial, Inc. (NYSE:STAG) Will Post Quarterly Sales of $75.43 Million
Wall Street analysts predict that Stag Industrial, Inc. (NYSE:STAG) will post $75.43 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Stag Industrial’s earnings. The lowest sales estimate is $69.39 million and the highest is $79.50 million. Stag Industrial posted sales of $62.60 million during the same quarter last year, which suggests a positive year over year growth rate of 20.5%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Stag Industrial will report full year sales of $75.43 million for the current year, with estimates ranging from $276.74 million to $305.90 million. For the next financial year, analysts expect that the business will post sales of $339.04 million per share, with estimates ranging from $278.71 million to $365.95 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Stag Industrial.
Stag Industrial (NYSE:STAG) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $72.20 million during the quarter, compared to the consensus estimate of $71.44 million. Stag Industrial had a net margin of 12.22% and a return on equity of 3.97%. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share.
Several research analysts recently issued reports on the stock. Raymond James Financial, Inc. increased their price target on shares of Stag Industrial from $27.50 to $28.50 and gave the stock an “outperform” rating in a research note on Wednesday. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Stag Industrial in a research note on Wednesday, August 2nd. Jefferies Group LLC restated a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Stag Industrial in a research note on Sunday, June 25th. BidaskClub lowered shares of Stag Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $25.00 price objective on shares of Stag Industrial in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $26.93.
Several hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC increased its stake in shares of Stag Industrial by 1.9% in the first quarter. TIAA CREF Investment Management LLC now owns 290,089 shares of the real estate investment trust’s stock worth $7,258,000 after buying an additional 5,417 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Stag Industrial by 21.7% in the fourth quarter. Teachers Advisors LLC now owns 140,126 shares of the real estate investment trust’s stock worth $3,345,000 after buying an additional 24,955 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Stag Industrial by 3.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 79,040 shares of the real estate investment trust’s stock worth $1,978,000 after buying an additional 2,610 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Stag Industrial during the first quarter worth about $205,000. Finally, Forsta AP Fonden increased its stake in shares of Stag Industrial by 142.0% in the second quarter. Forsta AP Fonden now owns 36,300 shares of the real estate investment trust’s stock worth $1,002,000 after buying an additional 21,300 shares during the last quarter. 74.44% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Stag Industrial (NYSE STAG) opened at 26.70 on Friday. Stag Industrial has a 52-week low of $21.21 and a 52-week high of $28.66. The company has a market capitalization of $2.46 billion, a P/E ratio of 99.63 and a beta of 1.22. The stock’s 50 day moving average is $27.31 and its 200 day moving average is $26.11.
The business also recently declared a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Wednesday, November 29th. Stag Industrial’s payout ratio is presently 503.57%.
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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