First Republic Investment Management Inc. purchased a new position in Stag Industrial Inc (NYSE:STAG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,278 shares of the real estate investment trust’s stock, valued at approximately $362,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Raymond James & Associates increased its holdings in Stag Industrial by 14.7% in the second quarter. Raymond James & Associates now owns 1,260,363 shares of the real estate investment trust’s stock valued at $34,320,000 after buying an additional 161,562 shares during the last quarter. Schnieders Capital Management LLC increased its holdings in Stag Industrial by 11.1% in the second quarter. Schnieders Capital Management LLC now owns 20,465 shares of the real estate investment trust’s stock valued at $557,000 after buying an additional 2,050 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Stag Industrial by 92.1% in the second quarter. Envestnet Asset Management Inc. now owns 17,986 shares of the real estate investment trust’s stock valued at $489,000 after buying an additional 8,624 shares during the last quarter. Highstreet Asset Management Inc. bought a new stake in Stag Industrial in the second quarter valued at about $1,152,000. Finally, Citadel Advisors LLC increased its holdings in Stag Industrial by 972.5% in the second quarter. Citadel Advisors LLC now owns 79,408 shares of the real estate investment trust’s stock valued at $2,162,000 after buying an additional 72,004 shares during the last quarter. 84.40% of the stock is owned by hedge funds and other institutional investors.
STAG has been the subject of several research analyst reports. UBS Group boosted their price objective on Stag Industrial from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, June 21st. JPMorgan Chase & Co. lowered Stag Industrial from an “overweight” rating to a “neutral” rating and set a $27.00 target price for the company. in a report on Friday, June 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Stag Industrial has a consensus rating of “Hold” and a consensus target price of $28.20.
Stag Industrial (NYSE:STAG) last posted its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company had revenue of $85.47 million during the quarter, compared to analyst estimates of $84.32 million. Stag Industrial had a return on equity of 5.08% and a net margin of 19.24%. equities research analysts anticipate that Stag Industrial Inc will post 1.79 EPS for the current year.
The business also recently announced a monthly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were issued a dividend of $0.1183 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.25%. The ex-dividend date was Thursday, August 30th. Stag Industrial’s dividend payout ratio (DPR) is presently 84.02%.
Stag Industrial Profile
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (?REIT?) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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