Prospera Financial Services Inc increased its stake in Stag Industrial Inc. (NYSE:STAG) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,745 shares of the company’s stock after buying an additional 1,845 shares during the period. Prospera Financial Services Inc’s holdings in Stag Industrial were worth $446,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of STAG. Aristotle Capital Boston LLC increased its position in Stag Industrial by 3.9% in the first quarter. Aristotle Capital Boston LLC now owns 213,837 shares of the company’s stock worth $4,354,000 after buying an additional 8,037 shares during the last quarter. Legal & General Group Plc increased its position in Stag Industrial by 8.5% in the first quarter. Legal & General Group Plc now owns 135,920 shares of the company’s stock worth $2,763,000 after buying an additional 10,654 shares during the last quarter. AMP Capital Investors Ltd increased its position in Stag Industrial by 6.9% in the first quarter. AMP Capital Investors Ltd now owns 38,557 shares of the company’s stock worth $773,000 after buying an additional 2,500 shares during the last quarter. Kennedy Capital Management Inc. increased its position in Stag Industrial by 49.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,540,370 shares of the company’s stock worth $31,362,000 after buying an additional 507,814 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Stag Industrial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,403,671 shares of the company’s stock worth $48,939,000 after buying an additional 648,663 shares during the last quarter. Institutional investors own 76.97% of the company’s stock.
Stag Industrial Inc. (NYSE:STAG) traded up 1.48% during mid-day trading on Thursday, reaching $24.70. The company’s stock had a trading volume of 442,080 shares. The firm has a 50-day moving average of $24.36 and a 200-day moving average of $22.32. The stock’s market capitalization is $1.76 billion. Stag Industrial Inc. has a 52 week low of $14.97 and a 52 week high of $25.51.
Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.38. The company had revenue of $60.24 million for the quarter, compared to analysts’ expectations of $54.24 million. Stag Industrial had a negative return on equity of 3.09% and a negative net margin of 9.21%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities research analysts expect that Stag Industrial Inc. will post $1.56 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be given a dividend of $0.1158 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date is Thursday, October 27th. Stag Industrial’s payout ratio is -272.55%.
A number of research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Stag Industrial from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, August 5th. DA Davidson increased their price objective on Stag Industrial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, August 5th. Robert W. Baird reiterated an “outperform” rating and issued a $26.00 price objective on shares of Stag Industrial in a report on Friday, August 26th. RBC Capital Markets reiterated an “outperform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of Stag Industrial in a report on Friday, August 5th. Finally, Capital One Financial Corp. downgraded Stag Industrial from an “overweight” rating to an “equal weight” rating and set a $21.00 price objective on the stock. in a report on Monday, July 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $24.00.
In other Stag Industrial news, CEO Benjamin S. Butcher bought 2,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were acquired at an average cost of $23.81 per share, with a total value of $47,620.00. Following the completion of the transaction, the chief executive officer now owns 72,088 shares in the company, valued at $1,716,415.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.
About Stag Industrial
STAG Industrial, Inc is a real estate investment trust. The Company focuses on the acquisition and operation of single-tenant industrial properties across the United States. The Company owns approximately 290 buildings in over 40 states with approximately 54.7 million rentable square feet, consisting of over 220 warehouse/distribution buildings, approximately 50 light manufacturing buildings and over 20 flex/office buildings.
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