51,637 Stag Industrial, Inc. $STAG Shares Bought by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its Stag Industrial stake by 21.1% in the third quarter, acquiring 51,637 shares and bringing its holdings to 296,731 shares valued at approximately $10.6 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $41.11; three analysts rate the stock a Buy, five a Hold, and one a Sell.
• Stag Industrial reported quarterly revenue of $224.37 million, up 8.1% year over year, but its $0.28 EPS missed estimates. The REIT declared a quarterly dividend of $0.3875 per share, equivalent to a 4.4% annualized yield.

Congress Asset Management Co. increased its holdings in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 21.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 296,731 shares of the real estate investment trust's stock after acquiring an additional 51,637 shares during the quarter. Congress Asset Management Co. owned about 0.15% of Stag Industrial worth $10,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in Stag Industrial by 22.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,583 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 285 shares during the period. Nissay Asset Management Corp Japan raised its stake in Stag Industrial by 1.0% in the second quarter. Nissay Asset Management Corp Japan now owns 29,952 shares of the real estate investment trust's stock worth $1,140,000 after buying an additional 302 shares in the last quarter. Community Bank N.A. lifted its holdings in Stag Industrial by 55.9% in the second quarter. Community Bank N.A. now owns 951 shares of the real estate investment trust's stock worth $36,000 after buying an additional 341 shares during the period. Central Pacific Bank Trust Division lifted its holdings in Stag Industrial by 6.5% in the third quarter. Central Pacific Bank Trust Division now owns 6,390 shares of the real estate investment trust's stock worth $229,000 after buying an additional 390 shares during the period. Finally, Gamco Investors INC. ET AL lifted its holdings in Stag Industrial by 1.4% in the first quarter. Gamco Investors INC. ET AL now owns 30,042 shares of the real estate investment trust's stock worth $1,083,000 after buying an additional 402 shares during the period. Institutional investors own 88.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STAG. Robert W. Baird upgraded Stag Industrial from a "neutral" rating to an "outperform" rating and set a $42.00 target price on the stock in a report on Monday, August 31st. Barclays raised their target price on Stag Industrial from $38.00 to $41.00 and gave the company an "underweight" rating in a research note on Thursday, July 16th. Wells Fargo & Company dropped their target price on shares of Stag Industrial from $40.00 to $38.00 and set an "equal weight" rating on the stock in a report on Tuesday, September 1st. Evercore reaffirmed an "outperform" rating on shares of Stag Industrial in a research report on Monday, September 14th. Finally, Weiss Ratings lowered shares of Stag Industrial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, September 25th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.11.

Stag Industrial Price Performance

Shares of NYSE:STAG opened at $35.29 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 27.14 and a beta of 0.95. The business has a 50-day simple moving average of $37.04 and a two-hundred day simple moving average of $37.94. Stag Industrial, Inc. has a fifty-two week low of $35.25 and a fifty-two week high of $42.61.

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

Stag Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.3875 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.55 dividend on an annualized basis and a yield of 4.4%. Stag Industrial's dividend payout ratio is 119.23%.

Stag Industrial Company Profile

STAG Industrial, Inc NYSE: STAG is a real estate investment trust (REIT) that owns, operates and acquires industrial properties across the United States. The company focuses primarily on single-tenant properties, with a portfolio designed to serve businesses involved in manufacturing, logistics, distribution and warehousing.

STAG Industrial seeks to generate rental income through long-term leases with tenants operating in a range of industries. Its properties are generally located in established industrial markets and are supported by demand for distribution and logistics facilities, including those serving e-commerce and supply-chain operations.

Founded in 2010 and headquartered in Boston, Massachusetts, STAG Industrial became a publicly traded company in 2011.

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