Brokerages Anticipate Stag Industrial, Inc. (STAG) to Post $0.42 Earnings Per Share
Wall Street analysts predict that Stag Industrial, Inc. (NYSE:STAG) will post earnings per share of $0.42 for the current quarter, Zacks reports. Six analysts have provided estimates for Stag Industrial’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.43. Stag Industrial reported earnings per share of ($0.06) during the same quarter last year, which suggests a positive year-over-year growth rate of 800%. The firm is expected to report its next earnings report after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that Stag Industrial will report full year earnings of $1.68 per share for the current fiscal year, with EPS estimates ranging from $1.66 to $1.70. For the next financial year, analysts forecast that the business will report earnings of $1.82 per share, with EPS estimates ranging from $1.76 to $1.87. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Stag Industrial.
Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $72.20 million during the quarter, compared to analysts’ expectations of $71.44 million. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS.
Several equities research analysts have commented on the company. BidaskClub lowered Stag Industrial from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Jefferies Group LLC reiterated a “buy” rating and set a $32.00 price objective (up from $31.00) on shares of Stag Industrial in a research note on Tuesday, August 22nd. Evercore ISI upgraded Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Monday, August 14th. Raymond James Financial, Inc. boosted their price objective on Stag Industrial from $27.50 to $28.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Stag Industrial in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Stag Industrial has an average rating of “Buy” and a consensus price target of $28.25.
In other news, EVP Peter S. Fearey sold 1,033 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $28.71, for a total value of $29,657.43. Following the completion of the sale, the executive vice president now directly owns 2,506 shares in the company, valued at $71,947.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Stag Industrial by 5.4% in the second quarter. Vanguard Group Inc. now owns 13,381,991 shares of the real estate investment trust’s stock valued at $369,344,000 after purchasing an additional 691,105 shares in the last quarter. BlackRock Inc. grew its position 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 valued at $211,412,000 after purchasing an additional 7,994,905 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Stag Industrial by 15.0% in the second quarter. Bank of New York Mellon Corp now owns 4,950,893 shares of the real estate investment trust’s stock valued at $136,644,000 after purchasing an additional 646,968 shares in the last quarter. Brookfield Asset Management Inc. grew its position in shares of Stag Industrial by 7.3% in the second quarter. Brookfield Asset Management Inc. now owns 2,674,778 shares of the real estate investment trust’s stock valued at $73,824,000 after purchasing an additional 181,999 shares in the last quarter. Finally, GW&K Investment Management LLC grew its position in shares of Stag Industrial by 7.8% in the second quarter. GW&K Investment Management LLC now owns 2,326,170 shares of the real estate investment trust’s stock valued at $64,202,000 after purchasing an additional 168,331 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.
Stag Industrial (NYSE:STAG) opened at 27.51 on Wednesday. The firm’s 50-day moving average price is $28.02 and its 200 day moving average price is $27.36. The stock has a market cap of $2.54 billion, a PE ratio of 102.65 and a beta of 1.19. Stag Industrial has a 12-month low of $21.21 and a 12-month high of $28.95.
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 given a $0.1175 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.13%. Stag Industrial’s dividend payout ratio (DPR) 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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