46,340 Shares in Stag Industrial, Inc. $STAG Acquired by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 46,340 shares of Stag Industrial, valued at approximately $1.76 million. Institutional investors collectively own 88.67% of the REIT.
• Stag Industrial reported quarterly revenue of $224.37 million, up 8.1% year over year, but earnings per share of $0.28 fell well short of the $0.65 consensus estimate.
• The company declared a quarterly dividend of $0.3875, equivalent to an annualized $1.55 payout and a 4.1% yield. Analysts’ overall rating remains “Hold,” with an average price target of $40.70 versus the reported share price of $37.66.

Corient Private Wealth LP bought a new position in Stag Industrial, Inc. (NYSE:STAG - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 46,340 shares of the real estate investment trust's stock, valued at approximately $1,764,000.

Other hedge funds have also added to or reduced their stakes in the company. Pacific Heights Asset Management LLC increased its position in Stag Industrial by 25.0% during the fourth quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the real estate investment trust's stock valued at $18,380,000 after acquiring an additional 100,000 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Stag Industrial in the second quarter worth about $3,693,000. Bessemer Group Inc. grew its stake in shares of Stag Industrial by 8.0% during the 4th quarter. Bessemer Group Inc. now owns 834,733 shares of the real estate investment trust's stock valued at $30,684,000 after purchasing an additional 61,675 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Stag Industrial during the 1st quarter valued at about $3,444,000. Finally, Geode Capital Management LLC increased its position in shares of Stag Industrial by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,830,915 shares of the real estate investment trust's stock valued at $140,851,000 after purchasing an additional 65,502 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Stag Industrial Stock Performance

STAG opened at $37.66 on Friday. The firm has a market cap of $7.26 billion, a P/E ratio of 28.97 and a beta of 0.95. Stag Industrial, Inc. has a 1-year low of $34.40 and a 1-year high of $42.61. The company has a 50 day simple moving average of $38.47 and a two-hundred day simple moving average of $38.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.76 and a quick ratio of 1.76.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.37). The firm had revenue of $224.37 million for the quarter, compared to the consensus estimate of $223.04 million. Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. Equities analysts forecast that Stag Industrial, Inc. will post 2.63 earnings per share for the current fiscal year.

Stag Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.3875 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.1%. Stag Industrial's dividend payout ratio is 119.23%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STAG. Wall Street Zen downgraded shares of Stag Industrial from a "hold" rating to a "sell" rating in a report on Monday, August 24th. Barclays increased their price target on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an "underweight" rating in a research report on Thursday, July 16th. Wells Fargo & Company dropped their price target on shares of Stag Industrial from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Robert W. Baird upgraded Stag Industrial from a "neutral" rating to an "outperform" rating and set a $42.00 price objective for the company in a research note on Monday. Finally, Raymond James Financial initiated coverage on Stag Industrial in a report on Wednesday, June 17th. They issued an "outperform" rating and a $44.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Stag Industrial has an average rating of "Hold" and an average price target of $40.70.

About Stag Industrial

Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company's portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.

Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.

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