Vanguard Group Inc. increased its position in Stag Industrial Inc. (NYSE:STAG) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,340,067 shares of the company’s stock after buying an additional 380,002 shares during the period. Vanguard Group Inc. owned approximately 14.48% of Stag Industrial worth $246,198,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of STAG. GW&K Investment Management LLC raised its position in Stag Industrial by 7.3% in the second quarter. GW&K Investment Management LLC now owns 2,012,957 shares of the company’s stock valued at $47,929,000 after buying an additional 136,708 shares during the period. Spirit of America Management Corp NY acquired a new position in Stag Industrial during the second quarter valued at approximately $210,000. Barclays PLC raised its position in Stag Industrial by 8.4% in the first quarter. Barclays PLC now owns 62,732 shares of the company’s stock valued at $1,254,000 after buying an additional 4,855 shares during the period. Aristotle Capital Boston LLC raised 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 valued at $4,354,000 after buying an additional 8,037 shares during the period. Finally, Legal & General Group Plc raised 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 valued at $2,763,000 after buying an additional 10,654 shares during the period. 76.99% of the stock is currently owned by institutional investors and hedge funds.
Stag Industrial Inc. (NYSE:STAG) opened at 22.66 on Thursday. Stag Industrial Inc. has a 12-month low of $14.97 and a 12-month high of $25.51. The company’s 50-day moving average is $23.98 and its 200 day moving average is $22.77. The stock’s market capitalization is $1.62 billion.
Stag Industrial (NYSE:STAG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $60.24 million for the quarter, compared to analyst estimates of $54.24 million. Stag Industrial had a negative net margin of 9.21% and a negative return on equity of 3.09%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. On average, analysts predict that Stag Industrial Inc. will post $1.56 EPS 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 paid a $0.1158 dividend. This represents a $1.39 annualized dividend and a dividend yield of 6.13%. The ex-dividend date is Thursday, October 27th. Stag Industrial’s dividend payout ratio (DPR) is presently -272.55%.
Several research firms recently commented on STAG. DA Davidson increased their target price on Stag Industrial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, August 5th. Royal Bank Of Canada upped their price objective on shares of Stag Industrial from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Robert W. Baird restated an “outperform” rating and issued a $26.00 price objective on shares of Stag Industrial in a research note on Friday, August 26th. RBC Capital Markets restated an “outperform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of Stag Industrial in a research note on Friday, August 5th. Finally, Capital One Financial Corp. downgraded shares of Stag Industrial from an “overweight” rating to an “equal weight” rating and set a $21.00 price objective for the company. in a research note on Monday, July 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $24.00.
In other news, CEO Benjamin S. Butcher acquired 2,000 shares of Stag Industrial stock in a transaction that occurred on Friday, September 9th. The shares were acquired at an average price of $23.81 per share, with a total value of $47,620.00. Following the purchase, the chief executive officer now directly owns 72,088 shares of the company’s stock, valued at $1,716,415.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Larry T. Guillemette acquired 10,500 shares of Stag Industrial stock in a transaction that occurred on Monday, September 26th. The shares were purchased at an average cost of $24.91 per share, for a total transaction of $261,555.00. Following the purchase, the director now directly owns 11,882 shares in the company, valued at $295,980.62. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by insiders.
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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