Woodline Partners LP acquired a new position in STAG Industrial, Inc. (NYSE:STAG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 456,700 shares of the real estate investment trust's stock, valued at approximately $15,446,000. Woodline Partners LP owned about 0.25% of STAG Industrial as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in STAG Industrial in the 4th quarter worth approximately $75,471,000. FMR LLC grew its position in STAG Industrial by 30.1% in the 4th quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust's stock worth $305,224,000 after purchasing an additional 2,088,839 shares during the period. Raymond James Financial Inc. bought a new stake in STAG Industrial in the 4th quarter worth approximately $57,561,000. Northern Trust Corp grew its position in STAG Industrial by 33.3% in the 4th quarter. Northern Trust Corp now owns 2,090,046 shares of the real estate investment trust's stock worth $70,685,000 after purchasing an additional 522,568 shares during the period. Finally, Franklin Resources Inc. grew its position in STAG Industrial by 114.3% in the 4th quarter. Franklin Resources Inc. now owns 797,457 shares of the real estate investment trust's stock worth $26,970,000 after purchasing an additional 425,362 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on STAG. Raymond James lifted their target price on shares of STAG Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Barclays cut their target price on shares of STAG Industrial from $40.00 to $37.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $38.00 target price on shares of STAG Industrial in a research report on Monday. Finally, Robert W. Baird cut their target price on shares of STAG Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, STAG Industrial currently has an average rating of "Hold" and an average price target of $39.63.
Read Our Latest Stock Analysis on STAG Industrial
STAG Industrial Stock Performance
NYSE:STAG opened at $34.43 on Thursday. The stock has a 50-day simple moving average of $33.79 and a two-hundred day simple moving average of $34.76. STAG Industrial, Inc. has a 52-week low of $28.61 and a 52-week high of $41.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market capitalization of $6.42 billion, a PE ratio of 33.10 and a beta of 0.93.
STAG Industrial (NYSE:STAG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. The business had revenue of $205.57 million during the quarter, compared to analyst estimates of $202.04 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. STAG Industrial's revenue for the quarter was up 9.7% on a year-over-year basis. Analysts forecast that STAG Industrial, Inc. will post 2.47 EPS for the current year.
STAG Industrial Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.1242 per share. This represents a $1.49 annualized dividend and a yield of 4.33%. The ex-dividend date is Monday, June 30th. STAG Industrial's dividend payout ratio is presently 112.03%.
STAG Industrial Company Profile
(
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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