State Street Corp increased its position in Stag Industrial Inc (NYSE:STAG) by 15.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,478,060 shares of the real estate investment trust’s stock after buying an additional 200,516 shares during the period. State Street Corp owned 1.96% of Stag Industrial worth $35,277,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of STAG. Hall Laurie J Trustee acquired a new stake in Stag Industrial during the fourth quarter worth approximately $104,000. US Bancorp DE raised its stake in shares of Stag Industrial by 20.9% in the third quarter. US Bancorp DE now owns 6,184 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 1,071 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Stag Industrial by 0.6% in the third quarter. Advisory Services Network LLC now owns 6,332 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 38 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of Stag Industrial by 5.1% in the third quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 8,466 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 414 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Stag Industrial during the third quarter worth about $219,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.
Shares of Stag Industrial Inc (NYSE:STAG) traded up 0.68% on Friday, hitting $26.50. The stock had a trading volume of 466,263 shares. Stag Industrial Inc has a 52 week low of $19.79 and a 52 week high of $26.66. The company has a 50-day moving average of $25.27 and a 200 day moving average of $23.92. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 92.33 and a beta of 1.15.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings results on Thursday, February 16th. The real estate investment trust reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.47. Stag Industrial had a negative net margin of 7.25% and a negative return on equity of 2.54%. The firm earned $66.50 million during the quarter, compared to the consensus estimate of $55.68 million. During the same quarter last year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities research analysts predict that Stag Industrial Inc will post ($0.10) EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 28th will be given a dividend of $0.1167 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date is Wednesday, April 26th. Stag Industrial’s dividend payout ratio (DPR) is presently -304.35%.
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A number of brokerages recently issued reports on STAG. Royal Bank of Canada reissued a “buy” rating and issued a $26.00 target price on shares of Stag Industrial in a research report on Friday, March 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of Stag Industrial in a research report on Monday, March 20th. Finally, Zacks Investment Research lowered Stag Industrial from a “buy” rating to a “hold” rating in a research report on Thursday, January 12th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $25.25.
About Stag Industrial
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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