$76.57 Million in Sales Expected for Stag Industrial, Inc. (STAG) This Quarter
Wall Street brokerages forecast that Stag Industrial, Inc. (NYSE:STAG) will report $76.57 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Stag Industrial’s earnings, with the highest sales estimate coming in at $79.10 million and the lowest estimate coming in at $73.69 million. Stag Industrial posted sales of $62.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.3%. The company is expected to report its next earnings results after the market closes on Thursday, November 2nd.
On average, analysts expect that Stag Industrial will report full year sales of $76.57 million for the current year, with estimates ranging from $291.65 million to $303.20 million. For the next fiscal year, analysts forecast that the company will post sales of $343.74 million per share, with estimates ranging from $308.97 million to $365.95 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Stag Industrial.
Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $72.20 million for the quarter, compared to analyst estimates of $71.44 million. Stag Industrial had a net margin of 12.22% and a return on equity of 3.97%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share.
Several brokerages have recently issued reports on STAG. BidaskClub cut shares of Stag Industrial from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Stag Industrial in a research note on Tuesday, September 26th. UBS AG raised shares of Stag Industrial from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $21.00 to $28.00 in a research note on Friday, September 8th. ValuEngine raised shares of Stag Industrial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Evercore ISI raised shares of Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company presently 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 Stag Industrial stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $28.71, for a total value of $29,657.43. Following the transaction, the executive vice president now directly owns 2,506 shares of the company’s stock, valued at $71,947.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its position in shares of Stag Industrial by 2.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 375,500 shares of the real estate investment trust’s stock worth $10,315,000 after acquiring an additional 10,000 shares in the last quarter. First Trust Advisors LP increased its position in shares of Stag Industrial by 83.5% in the third quarter. First Trust Advisors LP now owns 48,248 shares of the real estate investment trust’s stock worth $1,325,000 after acquiring an additional 21,954 shares in the last quarter. Strs Ohio increased its position in shares of Stag Industrial by 1.8% in the third quarter. Strs Ohio now owns 143,112 shares of the real estate investment trust’s stock worth $3,931,000 after acquiring an additional 2,481 shares in the last quarter. Exane Derivatives increased its position in shares of Stag Industrial by 66,269.4% in the third quarter. Exane Derivatives now owns 23,893 shares of the real estate investment trust’s stock worth $656,000 after acquiring an additional 23,857 shares in the last quarter. Finally, Brookfield Asset Management Inc. increased 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 worth $73,824,000 after acquiring an additional 181,999 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.
Stag Industrial (STAG) traded up 0.66% during mid-day trading on Friday, hitting $27.63. 61,028 shares of the stock traded hands. Stag Industrial has a 12-month low of $21.21 and a 12-month high of $28.95. The firm has a market cap of $2.55 billion, a PE ratio of 103.10 and a beta of 1.19. The stock has a 50 day moving average price of $28.00 and a 200 day moving average price of $27.36.
The company also recently announced 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. This represents a $1.41 annualized dividend and a dividend yield of 5.14%. The ex-dividend date is Wednesday, November 29th. Stag Industrial’s dividend payout ratio (DPR) is currently 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Stag Industrial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stag Industrial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.