Victory Capital Management Inc. cut its position in Stag Industrial Inc (NYSE:STAG) by 7.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,392,153 shares of the real estate investment trust’s stock after selling 115,937 shares during the quarter. Victory Capital Management Inc. owned approximately 1.18% of Stag Industrial worth $41,277,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in STAG. Lindbrook Capital LLC raised its holdings in Stag Industrial by 418.8% in the first quarter. Lindbrook Capital LLC now owns 991 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 800 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Stag Industrial by 45.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,365 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 426 shares during the last quarter. Private Capital Group LLC grew its stake in shares of Stag Industrial by 242.9% during the fourth quarter. Private Capital Group LLC now owns 1,728 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 1,224 shares during the last quarter. Athena Capital Advisors LLC purchased a new stake in shares of Stag Industrial during the fourth quarter worth about $50,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Stag Industrial during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 76.91% of the company’s stock.
STAG has been the topic of a number of research analyst reports. Zacks Investment Research lowered Stag Industrial from a “hold” rating to a “sell” rating in a research note on Thursday, January 17th. ValuEngine upgraded Stag Industrial from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. DA Davidson boosted their price target on Stag Industrial to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Berenberg Bank initiated coverage on Stag Industrial in a research note on Tuesday, April 23rd. They set a “hold” rating and a $30.00 price target on the stock. Finally, TheStreet upgraded Stag Industrial from a “c+” rating to a “b” rating in a research note on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $29.25.
NYSE STAG traded up $0.22 during trading hours on Thursday, reaching $29.68. The stock had a trading volume of 7,447 shares, compared to its average volume of 909,272. The firm has a market cap of $3.70 billion, a P/E ratio of 16.59, a P/E/G ratio of 3.31 and a beta of 1.04. Stag Industrial Inc has a 52-week low of $23.24 and a 52-week high of $29.89. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.79.
Stag Industrial (NYSE:STAG) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.39). The firm had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $95.19 million. Stag Industrial had a net margin of 19.44% and a return on equity of 4.63%. Stag Industrial’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. As a group, research analysts expect that Stag Industrial Inc will post 1.83 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.1192 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.43 dividend on an annualized basis and a yield of 4.82%. Stag Industrial’s dividend payout ratio is currently 79.89%.
Stag Industrial Profile
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, 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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