Lazard Asset Management LLC boosted its holdings in Stag Industrial Inc (NYSE:STAG) by 38.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,500 shares of the real estate investment trust’s stock after purchasing an additional 4,900 shares during the quarter. Lazard Asset Management LLC’s holdings in Stag Industrial were worth $478,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Allianz Asset Management GmbH grew its holdings in shares of Stag Industrial by 7.4% during the fourth quarter. Allianz Asset Management GmbH now owns 587,941 shares of the real estate investment trust’s stock valued at $16,068,000 after buying an additional 40,330 shares during the last quarter. American International Group Inc. grew its holdings in shares of Stag Industrial by 6.5% during the fourth quarter. American International Group Inc. now owns 63,846 shares of the real estate investment trust’s stock valued at $1,745,000 after buying an additional 3,918 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Stag Industrial during the fourth quarter valued at approximately $278,000. UBS Asset Management Americas Inc. grew its holdings in shares of Stag Industrial by 19.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 214,422 shares of the real estate investment trust’s stock valued at $5,860,000 after buying an additional 34,388 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Stag Industrial by 4.0% during the fourth quarter. BlackRock Inc. now owns 8,387,711 shares of the real estate investment trust’s stock valued at $229,236,000 after buying an additional 326,056 shares during the last quarter. Institutional investors and hedge funds own 84.57% of the company’s stock.
Stag Industrial Inc (NYSE:STAG) opened at $24.02 on Wednesday. The firm has a market cap of $2,270.00, a P/E ratio of 109.18, a P/E/G ratio of 2.84 and a beta of 1.14. Stag Industrial Inc has a 52-week low of $22.42 and a 52-week high of $28.95. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.61.
Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.42. The company had revenue of $81.30 million for the quarter, compared to the consensus estimate of $79.83 million. Stag Industrial had a net margin of 10.38% and a return on equity of 2.92%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. equities analysts expect that Stag Industrial Inc will post 1.82 EPS for the current year.
In other Stag Industrial news, CEO Benjamin S. Butcher sold 68,180 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $26.41, for a total value of $1,800,633.80. Following the transaction, the chief executive officer now directly owns 140,268 shares in the company, valued at $3,704,477.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David G. King sold 35,000 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $26.41, for a total transaction of $924,350.00. Following the completion of the transaction, the executive vice president now owns 35,364 shares in the company, valued at $933,963.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,069 shares of company stock worth $4,359,472. 2.00% of the stock is owned by insiders.
STAG has been the topic of a number of recent analyst reports. TheStreet cut shares of Stag Industrial from a “b-” rating to a “c+” rating in a report on Tuesday, December 19th. JPMorgan Chase & Co. upgraded shares of Stag Industrial from a “neutral” rating to an “overweight” rating and set a $30.00 price target on the stock in a report on Friday, December 15th. ValuEngine cut shares of Stag Industrial from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research cut shares of Stag Industrial from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. Finally, Cantor Fitzgerald set a $29.00 price objective on shares of Stag Industrial and gave the company a “hold” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $29.69.
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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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