Parr Mcknight Wealth Management Group LLC Takes Position in STAG Industrial, Inc. (NYSE:STAG)

Parr Mcknight Wealth Management Group LLC purchased a new position in STAG Industrial, Inc. (NYSE:STAG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,503 shares of the real estate investment trust's stock, valued at approximately $896,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC raised its holdings in shares of STAG Industrial by 30.1% in the fourth quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust's stock worth $305,224,000 after buying an additional 2,088,839 shares during the period. Earnest Partners LLC increased its holdings in STAG Industrial by 6.6% during the 4th quarter. Earnest Partners LLC now owns 3,795,425 shares of the real estate investment trust's stock worth $128,361,000 after purchasing an additional 235,622 shares during the period. Nuveen Asset Management LLC increased its holdings in STAG Industrial by 5.9% during the 4th quarter. Nuveen Asset Management LLC now owns 3,679,641 shares of the real estate investment trust's stock worth $124,445,000 after purchasing an additional 204,948 shares during the period. Geode Capital Management LLC increased its holdings in STAG Industrial by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,421,549 shares of the real estate investment trust's stock worth $115,748,000 after purchasing an additional 18,009 shares during the period. Finally, Channing Capital Management LLC increased its holdings in STAG Industrial by 7.8% during the 4th quarter. Channing Capital Management LLC now owns 2,259,638 shares of the real estate investment trust's stock worth $76,421,000 after purchasing an additional 164,284 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STAG. Raymond James increased their target price on STAG Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $38.00 price target on shares of STAG Industrial in a research report on Monday, May 19th. Finally, Robert W. Baird reduced their price objective on STAG Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $39.63.

STAG Industrial Trading Up 0.7%

STAG stock traded up $0.26 during midday trading on Thursday, hitting $35.74. The stock had a trading volume of 477,918 shares, compared to its average volume of 1,229,093. The firm has a market cap of $6.67 billion, a PE ratio of 34.35 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.36 and a quick ratio of 1.36. STAG Industrial, Inc. has a 12-month low of $28.61 and a 12-month high of $41.63. The company's 50-day moving average price is $33.73 and its 200 day moving average price is $34.66.

STAG Industrial (NYSE:STAG - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $205.57 million during the quarter, compared to analysts' expectations of $202.04 million. STAG Industrial had a net margin of 24.64% and a return on equity of 5.51%. STAG Industrial's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. On average, equities research analysts predict that STAG Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

STAG Industrial Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.1242 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a yield of 4.37%. STAG Industrial's payout ratio is currently 112.03%.

About STAG Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.