First Trust Advisors LP increased its position in shares of Stag Industrial Inc (NYSE:STAG) by 138.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,101 shares of the real estate investment trust’s stock after buying an additional 26,154 shares during the period. First Trust Advisors LP’s holdings in Stag Industrial were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Stag Industrial by 7.9% during the second quarter. BlackRock Inc. now owns 9,267,732 shares of the real estate investment trust’s stock worth $252,361,000 after buying an additional 675,981 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Stag Industrial by 8.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,336,432 shares of the real estate investment trust’s stock worth $119,252,000 after purchasing an additional 328,812 shares during the period. Northern Trust Corp boosted its position in Stag Industrial by 2.8% during the second quarter. Northern Trust Corp now owns 1,698,699 shares of the real estate investment trust’s stock worth $46,256,000 after purchasing an additional 46,015 shares during the period. Frontier Capital Management Co. LLC bought a new position in Stag Industrial during the second quarter worth $45,939,000. Finally, Janus Henderson Group PLC bought a new position in Stag Industrial during the second quarter worth $41,477,000. Institutional investors and hedge funds own 83.61% of the company’s stock.
A number of research firms have commented on STAG. Zacks Investment Research cut shares of Stag Industrial from a “hold” rating to a “sell” rating in a research report on Friday, November 23rd. Raymond James reduced their price objective on shares of Stag Industrial from $29.50 to $28.50 and set an “outperform” rating for the company in a research report on Monday, November 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Stag Industrial currently has an average rating of “Hold” and a consensus target price of $28.25.
STAG stock opened at $26.75 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.85 and a quick ratio of 0.85. Stag Industrial Inc has a one year low of $22.42 and a one year high of $29.07. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 2.98 and a beta of 1.02.
Stag Industrial (NYSE:STAG) last released its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.38). Stag Industrial had a return on equity of 3.74% and a net margin of 14.96%. The company had revenue of $89.00 million for the quarter, compared to the consensus estimate of $87.49 million. During the same period last year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stag Industrial Inc will post 1.77 earnings per share for the current fiscal year.
The firm also recently announced a dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be given a $0.118 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This is a boost from Stag Industrial’s previous dividend of $0.12. Stag Industrial’s payout ratio is presently 84.02%.
About Stag Industrial
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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