Bank of New York Mellon Corp Sells 87,446 Shares of Stag Industrial, Inc. $STAG

Bank of New York Mellon Corp trimmed its holdings in shares of Stag Industrial, Inc. (NYSE:STAG) by 5.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,592,928 shares of the real estate investment trust’s stock after selling 87,446 shares during the period. Bank of New York Mellon Corp’s holdings in Stag Industrial were worth $57,441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its stake in Stag Industrial by 17.6% during the first quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 1,491 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Stag Industrial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock worth $60,391,000 after acquiring an additional 451,355 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Stag Industrial in the first quarter worth $229,000. EverSource Wealth Advisors LLC boosted its stake in Stag Industrial by 270.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 1,048 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Stag Industrial by 173.4% during the 2nd quarter. First Trust Advisors LP now owns 177,756 shares of the real estate investment trust’s stock valued at $6,449,000 after purchasing an additional 112,747 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Stag Industrial Stock Down 2.0%

STAG opened at $40.48 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.87. Stag Industrial, Inc. has a twelve month low of $33.72 and a twelve month high of $42.61. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 31.38 and a beta of 0.97. The firm has a 50 day moving average price of $38.67 and a 200-day moving average price of $38.28.

Stag Industrial (NYSE:STAG) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The business had revenue of $224.21 million during the quarter, compared to analyst estimates of $221.51 million. Stag Industrial had a net margin of 28.25% and a return on equity of 6.80%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. Equities research analysts forecast that Stag Industrial, Inc. will post 2.64 earnings per share for the current year.

Stag Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.3875 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.55 annualized dividend and a dividend yield of 3.8%. Stag Industrial’s payout ratio is presently 120.16%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on STAG shares. Weiss Ratings cut shares of Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Wells Fargo & Company reduced their price target on shares of Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Evercore restated an “outperform” rating and issued a $44.00 price objective on shares of Stag Industrial in a report on Wednesday, April 29th. Raymond James Financial started coverage on Stag Industrial in a research note on Wednesday, June 17th. They set an “outperform” rating and a $44.00 target price on the stock. Finally, Barclays boosted their price target on Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.70.

Stag Industrial Company Profile

Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company’s portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.

Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.