Bank of New York Mellon Corp Takes $58.80 Million Position in Stag Industrial, Inc. $STAG

Key Points

• Bank of New York Mellon acquired 1.55 million STAG shares worth approximately $58.8 million, giving it a 0.80% stake. Institutional investors collectively own 88.67% of the REIT.
• Analysts maintain a consensus “Hold” rating with a $50.50 target price, while STAG recently traded at $37.26. The stock has a 52-week range of $34.40 to $42.61.
• STAG 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 $0.3875 quarterly dividend, implying a 4.2% annualized yield.

Bank of New York Mellon Corp bought a new position in Stag Industrial, Inc. (NYSE:STAG - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 1,545,049 shares of the real estate investment trust's stock, valued at approximately $58,805,000. Bank of New York Mellon Corp owned 0.80% of Stag Industrial as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in Stag Industrial by 22.0% in 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 buying an additional 285 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Stag Industrial by 1.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,515 shares of the real estate investment trust's stock valued at $1,122,000 after purchasing an additional 367 shares during the period. First National Trust Co raised its stake in Stag Industrial by 1.7% in the fourth quarter. First National Trust Co now owns 23,166 shares of the real estate investment trust's stock worth $852,000 after buying an additional 388 shares in the last quarter. Root Financial Partners LLC raised its stake in Stag Industrial by 32.9% in the fourth quarter. Root Financial Partners LLC now owns 1,603 shares of the real estate investment trust's stock worth $59,000 after buying an additional 397 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in Stag Industrial by 1.4% during 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. 88.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company cut their target price on Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Monday, June 1st. Robert W. Baird set a $138.00 price target on Stag Industrial in a research report on Friday, July 31st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stag Industrial in a report on Friday, July 31st. Raymond James Financial started coverage on Stag Industrial in a report on Wednesday, June 17th. They set an "outperform" rating and a $44.00 target price on the stock. Finally, Barclays raised their price objective on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an "underweight" rating in a research note on Thursday, July 16th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.50.

Stag Industrial Price Performance

Stag Industrial stock opened at $37.26 on Thursday. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 28.66 and a beta of 0.96. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.93. Stag Industrial, Inc. has a 52-week low of $34.40 and a 52-week high of $42.61. The company has a fifty day simple moving average of $38.61 and a 200-day simple moving average of $38.30.

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

Stag Industrial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 4.2%. Stag Industrial's dividend payout ratio (DPR) is 119.23%.

Stag Industrial Company Profile

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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