BB&T Corp. upgraded shares of Stag Industrial Inc (NASDAQ:STAG) from an underweight rating to a hold rating in a research note issued to investors on Friday morning, The Fly reports. The brokerage currently has $19.50 target price on the stock, down from their previous target price of $20.50.
Several other brokerages have also recently weighed in on STAG. DA Davidson lifted their price objective on Stag Industrial from $17.50 to $22.00 and gave the company a neutral rating in a report on Thursday, October 29th. Cantor Fitzgerald reissued a hold rating on shares of Stag Industrial in a report on Tuesday, December 29th. Jefferies Group began coverage on Stag Industrial in a report on Friday, January 22nd. They set a hold rating and a $17.00 price target for the company. Zacks Investment Research cut Stag Industrial from a buy rating to a hold rating in a report on Tuesday, December 29th. Finally, Ladenburg Thalmann reissued a buy rating and set a $30.00 price target (up previously from $28.00) on shares of Stag Industrial in a report on Thursday, December 3rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Stag Industrial has an average rating of Hold and an average price target of $22.20.
Stag Industrial (NASDAQ:STAG) opened at 18.46 on Friday. The firm’s market cap is $1.26 billion. Stag Industrial has a 1-year low of $14.97 and a 1-year high of $25.07. The firm has a 50-day moving average price of $16.60 and a 200 day moving average price of $18.30.
Stag Industrial (NASDAQ:STAG) last announced its quarterly earnings data on Thursday, February 25th. The company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company earned $58.90 million during the quarter, compared to analyst estimates of $50.46 million. During the same period in the prior year, the firm earned $0.37 earnings per share. Stag Industrial’s revenue was up 17.8% on a year-over-year basis. Equities analysts predict that Stag Industrial will post $1.61 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 29th will be given a dividend of $0.1158 per share. The ex-dividend date is Wednesday, April 27th. This represents a $1.39 dividend on an annualized basis and a yield of 7.53%.
In related news, CEO Benjamin S. Butcher purchased 10,000 shares of Stag Industrial stock in a transaction on Wednesday, December 16th. The shares were purchased at an average price of $18.68 per share, for a total transaction of $186,800.00. Following the transaction, the chief executive officer now owns 70,088 shares of the company’s stock, valued at approximately $1,309,243.84. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Other large investors recently added to or reduced their stakes in the company. Endurance Wealth Management Inc. raised its stake in Stag Industrial by 1.0% in the fourth quarter. Endurance Wealth Management Inc. now owns 372,656 shares of the company’s stock worth $6,876,000 after buying an additional 3,645 shares during the period. Eagle Asset Management raised its stake in Stag Industrial by 116.4% in the third quarter. Eagle Asset Management now owns 1,384,954 shares of the company’s stock worth $25,220,000 after buying an additional 745,065 shares during the period. King Luther Capital Management Corp raised its stake in Stag Industrial by 81.4% in the fourth quarter. King Luther Capital Management Corp now owns 734,219 shares of the company’s stock worth $13,546,000 after buying an additional 329,395 shares during the period. American International Group Inc. raised its stake in Stag Industrial by 3.9% in the fourth quarter. American International Group Inc. now owns 54,320 shares of the company’s stock worth $1,003,000 after buying an additional 2,034 shares during the period. Finally, BlackRock Advisors LLC raised its stake in Stag Industrial by 15.9% in the fourth quarter. BlackRock Advisors LLC now owns 1,783,879 shares of the company’s stock worth $32,913,000 after buying an additional 245,198 shares during the period.
STAG Industrial, Inc is focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. As of December 31, 2014, The Company owned 248 buildings in 36 states with approximately 47.0 million rentable square feet, consisting of 178 warehouse/distribution buildings, 50 light manufacturing buildings and 20 flex/office buildings.