Equities research analysts expect Stag Industrial Inc (NYSE:STAG) to announce $88.89 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Stag Industrial’s earnings, with the highest sales estimate coming in at $90.68 million and the lowest estimate coming in at $86.18 million. Stag Industrial reported sales of $78.14 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.8%. The company is scheduled to announce its next earnings results after the market closes on Thursday, November 1st.
According to Zacks, analysts expect that Stag Industrial will report full year sales of $349.26 million for the current financial year, with estimates ranging from $339.54 million to $355.26 million. For the next fiscal year, analysts anticipate that the business will report sales of $386.90 million, with estimates ranging from $346.92 million to $415.26 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Stag Industrial.
Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. Stag Industrial had a net margin of 19.24% and a return on equity of 5.08%. The company had revenue of $89.00 million during the quarter, compared to the consensus estimate of $87.49 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Stag Industrial’s revenue was up 14.0% on a year-over-year basis.
Separately, Zacks Investment Research downgraded shares of Stag Industrial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Stag Industrial currently has an average rating of “Hold” and a consensus price target of $28.20.
A number of hedge funds have recently added to or reduced their stakes in the stock. Canton Hathaway LLC bought a new position in shares of Stag Industrial during the third quarter valued at approximately $140,000. First Hawaiian Bank bought a new position in shares of Stag Industrial during the third quarter valued at approximately $148,000. Clear Harbor Asset Management LLC bought a new position in shares of Stag Industrial during the second quarter valued at approximately $201,000. Private Advisor Group LLC bought a new position in shares of Stag Industrial during the second quarter valued at approximately $212,000. Finally, Signition LP bought a new position in shares of Stag Industrial during the third quarter valued at approximately $225,000. 84.25% of the stock is owned by institutional investors.
STAG stock opened at $26.32 on Friday. Stag Industrial has a 1 year low of $22.42 and a 1 year high of $29.07. The stock has a market capitalization of $2.80 billion, a P/E ratio of 15.62, a P/E/G ratio of 2.98 and a beta of 1.08. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.83.
The business also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a $0.118 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date is Tuesday, October 30th. Stag Industrial’s payout ratio is currently 84.02%.
About Stag Industrial
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.
Featured Story: What is the Ex-Dividend Date in Investing?
Get a free copy of the Zacks research report on Stag Industrial (STAG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Stag Industrial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stag Industrial and related companies with MarketBeat.com's FREE daily email newsletter.