Alliancebernstein L.P. reduced its stake in Stag Industrial Inc (NYSE:STAG) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,009,439 shares of the real estate investment trust’s stock after selling 49,191 shares during the period. Alliancebernstein L.P. owned about 4.04% of Stag Industrial worth $189,718,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in STAG. Marshall Wace North America L.P. purchased a new position in Stag Industrial in the 1st quarter worth approximately $36,000. First Trust Advisors LP increased its stake in Stag Industrial by 88.7% in the 1st quarter. First Trust Advisors LP now owns 82,198 shares of the real estate investment trust’s stock worth $2,437,000 after purchasing an additional 38,645 shares during the period. Voya Investment Management LLC increased its stake in Stag Industrial by 869.6% in the 3rd quarter. Voya Investment Management LLC now owns 435,825 shares of the real estate investment trust’s stock worth $12,848,000 after purchasing an additional 390,874 shares during the period. State Street Corp increased its stake in Stag Industrial by 5.7% in the 3rd quarter. State Street Corp now owns 4,216,196 shares of the real estate investment trust’s stock worth $124,789,000 after purchasing an additional 226,131 shares during the period. Finally, Stifel Financial Corp increased its stake in Stag Industrial by 220.7% in the 3rd quarter. Stifel Financial Corp now owns 359,656 shares of the real estate investment trust’s stock worth $10,618,000 after purchasing an additional 247,500 shares during the period. 84.99% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on STAG. Royal Bank of Canada reaffirmed a “buy” rating and issued a $35.00 price target on shares of Stag Industrial in a research note on Tuesday, February 25th. Citigroup started coverage on Stag Industrial in a research report on Thursday, February 27th. They issued a “neutral” rating and a $33.00 price objective on the stock. Raymond James lifted their price objective on Stag Industrial from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. upgraded Stag Industrial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $33.00 to $34.00 in a research report on Wednesday, December 18th. Finally, JMP Securities reiterated an “outperform” rating and issued a $35.00 price objective (up from $34.00) on shares of Stag Industrial in a research report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.63.
In other Stag Industrial news, Director David G. King sold 30,000 shares of Stag Industrial stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $31.32, for a total transaction of $939,600.00. Following the completion of the transaction, the director now owns 509 shares in the company, valued at $15,941.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Benjamin S. Butcher sold 95,067 shares of Stag Industrial stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $31.32, for a total value of $2,977,498.44. Following the transaction, the chief executive officer now owns 62,088 shares of the company’s stock, valued at approximately $1,944,596.16. The disclosure for this sale can be found here. Insiders have sold 203,231 shares of company stock valued at $6,365,195 in the last quarter. 1.50% of the stock is owned by company insiders.
NYSE STAG opened at $20.71 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.72. Stag Industrial Inc has a twelve month low of $17.54 and a twelve month high of $33.48. The firm has a market capitalization of $2.98 billion, a PE ratio of 60.91, a P/E/G ratio of 3.63 and a beta of 1.04. The stock’s 50 day moving average is $28.18 and its 200 day moving average is $30.18.
Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.34). Stag Industrial had a net margin of 12.14% and a return on equity of 2.58%. The firm had revenue of $111.18 million for the quarter, compared to the consensus estimate of $108.40 million. On average, research analysts anticipate that Stag Industrial Inc will post 1.88 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date of this dividend is Monday, March 30th. Stag Industrial’s payout ratio is 78.26%.
About Stag Industrial
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.
Read More: What is a support level?
Want to see what other hedge funds are holding STAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stag Industrial Inc (NYSE:STAG).
Receive News & Ratings for Stag Industrial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stag Industrial and related companies with MarketBeat.com's FREE daily email newsletter.