Allstate Corp Buys Shares of 41,950 Stag Industrial, Inc. $STAG

Key Points

• Allstate Corp has acquired a new stake in Stag Industrial, Inc., buying 41,950 shares valued at approximately $1.5 million, according to its recent SEC filing.
• Stag Industrial reported a net margin of 29.14% and earnings of $0.63 per share, meeting analyst expectations while witnessing a 9.4% year-on-year revenue increase.
• The firm announced a dividend of $0.1242 per share, with a yield of 429.0%, set to be paid on September 15th to stockholders of record on September 1st.

Allstate Corp bought a new stake in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 41,950 shares of the real estate investment trust's stock, valued at approximately $1,515,000.

A number of other hedge funds have also recently modified their holdings of the business. Signaturefd LLC grew its position in shares of Stag Industrial by 14.0% during the 1st quarter. Signaturefd LLC now owns 2,586 shares of the real estate investment trust's stock valued at $93,000 after acquiring an additional 317 shares during the period. Securian Asset Management Inc. boosted its holdings in Stag Industrial by 2.9% in the 1st quarter. Securian Asset Management Inc. now owns 14,169 shares of the real estate investment trust's stock worth $512,000 after buying an additional 395 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in Stag Industrial by 3.5% in the 4th quarter. Integrated Advisors Network LLC now owns 11,673 shares of the real estate investment trust's stock worth $395,000 after buying an additional 398 shares during the last quarter. PFG Investments LLC boosted its holdings in Stag Industrial by 5.4% in the 1st quarter. PFG Investments LLC now owns 8,302 shares of the real estate investment trust's stock worth $300,000 after buying an additional 429 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its holdings in Stag Industrial by 1.2% in the 1st quarter. Moran Wealth Management LLC now owns 36,799 shares of the real estate investment trust's stock worth $1,329,000 after buying an additional 436 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on STAG shares. Robert W. Baird lowered their price objective on Stag Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Evercore ISI lifted their price objective on Stag Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Raymond James Financial lifted their price objective on Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $38.00 price objective on shares of Stag Industrial in a report on Monday, May 19th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $38.17.

Stag Industrial Price Performance

STAG traded up $0.17 during trading on Friday, reaching $36.81. The company's stock had a trading volume of 193,034 shares, compared to its average volume of 1,469,879. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $35.74 and a two-hundred day simple moving average of $35.09. Stag Industrial, Inc. has a 1 year low of $28.61 and a 1 year high of $40.62. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 28.98 and a beta of 0.91.

Stag Industrial (NYSE:STAG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. The firm had revenue of $207.44 million for the quarter, compared to analyst estimates of $206.37 million. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. As a group, analysts anticipate that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.1242 per share. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 29th. Stag Industrial's payout ratio is presently 117.32%.

Insider Activity at Stag Industrial

In other news, Director Benjamin S. Butcher sold 28,843 shares of Stag Industrial stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $36.90, for a total transaction of $1,064,306.70. Following the sale, the director owned 7,115 shares of the company's stock, valued at approximately $262,543.50. The trade was a 80.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company's stock.

Stag Industrial Company Profile

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.