Pensionfund Sabic decreased its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 23.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,500 shares of the real estate investment trust’s stock after selling 8,000 shares during the period. Pensionfund Sabic’s holdings in Stag Industrial were worth $700,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Stag Industrial by 1,758.0% during the first quarter. BlackRock Inc. now owns 8,449,687 shares of the real estate investment trust’s stock valued at $211,412,000 after buying an additional 7,994,905 shares during the last quarter. Brookfield Asset Management Inc. bought a new position in shares of Stag Industrial during the first quarter valued at about $62,369,000. Prudential Financial Inc. grew its stake in shares of Stag Industrial by 4,447.1% during the second quarter. Prudential Financial Inc. now owns 1,508,779 shares of the real estate investment trust’s stock valued at $41,643,000 after buying an additional 1,475,598 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Stag Industrial by 12.0% during the first quarter. Vanguard Group Inc. now owns 12,690,886 shares of the real estate investment trust’s stock valued at $317,526,000 after buying an additional 1,364,728 shares during the last quarter. Finally, Oak Ridge Investments LLC bought a new position in shares of Stag Industrial during the second quarter valued at about $37,394,000. Institutional investors and hedge funds own 81.21% of the company’s stock.
In related news, EVP Peter S. Fearey sold 1,033 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $28.71, for a total value of $29,657.43. Following the sale, the executive vice president now directly owns 2,506 shares of the company’s stock, valued at approximately $71,947.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.
STAG has been the topic of a number of recent research reports. ValuEngine raised Stag Industrial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. UBS AG raised Stag Industrial from a “sell” rating to a “neutral” rating and raised their price objective for the company from $21.00 to $28.00 in a research note on Friday, September 8th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Stag Industrial in a research note on Wednesday, August 2nd. BidaskClub cut Stag Industrial from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Stag Industrial in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Stag Industrial presently has a consensus rating of “Buy” and a consensus target price of $28.25.
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Shares of Stag Industrial, Inc. (NYSE STAG) traded up 0.18% on Wednesday, hitting $28.03. The stock had a trading volume of 200,664 shares. The stock has a market cap of $2.59 billion, a PE ratio of 104.59 and a beta of 1.19. The company has a 50 day moving average price of $28.02 and a 200-day moving average price of $27.23. Stag Industrial, Inc. has a 12 month low of $21.21 and a 12 month high of $28.95.
Stag Industrial (NYSE:STAG) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $72.20 million for the quarter, compared to analysts’ expectations of $71.44 million. Stag Industrial had a net margin of 12.22% and a return on equity of 3.97%. The business’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. On average, equities research analysts anticipate that Stag Industrial, Inc. will post ($0.01) earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.1175 per share. This represents a $1.41 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Wednesday, November 29th. Stag Industrial’s dividend payout ratio is 503.57%.
Stag Industrial Profile
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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