Nuveen LLC acquired a new position in Stag Industrial, Inc. (NYSE:STAG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,598,328 shares of the real estate investment trust's stock, valued at approximately $129,972,000. Nuveen LLC owned 1.93% of Stag Industrial at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in Stag Industrial by 204.9% during the 1st quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 506 shares in the last quarter. Tsfg LLC acquired a new stake in Stag Industrial during the 1st quarter valued at $32,000. Garde Capital Inc. acquired a new stake in Stag Industrial during the 1st quarter valued at $33,000. Avalon Trust Co acquired a new stake in shares of Stag Industrial in the 1st quarter valued at $36,000. Finally, Harbour Investments Inc. increased its stake in shares of Stag Industrial by 187.7% in the 1st quarter. Harbour Investments Inc. now owns 1,260 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 822 shares during the period. Institutional investors own 88.67% of the company's stock.
Analyst Ratings Changes
STAG has been the subject of several recent research reports. Robert W. Baird dropped their price objective on Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Raymond James Financial boosted their price target on shares of Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $38.00 target price on shares of Stag Industrial in a report on Monday, May 19th. Finally, Evercore ISI lifted their target price on shares of Stag Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $38.17.
Check Out Our Latest Research Report on STAG
Stag Industrial Trading Down 1.0%
Shares of NYSE STAG traded down $0.34 during midday trading on Thursday, reaching $34.83. 1,108,244 shares of the stock were exchanged, compared to its average volume of 1,495,226. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 27.42 and a beta of 0.91. The business has a 50-day simple moving average of $35.87 and a two-hundred day simple moving average of $34.97. Stag Industrial, Inc. has a 12 month low of $28.61 and a 12 month high of $40.75.
Stag Industrial (NYSE:STAG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, hitting the consensus estimate of $0.63. The firm had revenue of $207.44 million for the quarter, compared to the consensus estimate of $206.37 million. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. As a group, equities research analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current year.
Stag Industrial Announces Dividend
The business also recently announced a dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.1242 per share. This represents a yield of 422.0%. The ex-dividend date is Thursday, July 31st. Stag Industrial's dividend payout ratio (DPR) is 117.32%.
Insider Buying and Selling
In other Stag Industrial news, Director Benjamin S. Butcher sold 28,843 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $36.90, for a total value of $1,064,306.70. Following the sale, the director owned 7,115 shares in the company, valued at approximately $262,543.50. The trade was a 80.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company's stock.
About Stag Industrial
(
Free Report)
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.
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