Bessemer Group Inc. Reduces Position in Stag Industrial, Inc. $STAG

Key Points

• Bessemer Group Inc. cut its stake in Stag Industrial by 12.0% in the first quarter, selling 99,792 shares and ending with 734,941 shares valued at about $26.5 million.
• Stag Industrial reported better-than-expected quarterly earnings, posting $0.32 per share versus the $0.23 estimate, while revenue rose 9.0% year over year to $224.21 million.
• The company paid a quarterly dividend of $0.3875, implying an annualized yield of 3.7%, though its payout ratio remains high at 120.16%.

Bessemer Group Inc. trimmed its position in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 12.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 734,941 shares of the real estate investment trust's stock after selling 99,792 shares during the period. Bessemer Group Inc. owned about 0.38% of Stag Industrial worth $26,502,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Stag Industrial by 1.5% during the second quarter. State Street Corp now owns 9,539,842 shares of the real estate investment trust's stock valued at $347,261,000 after buying an additional 142,132 shares during the period. Norges Bank bought a new stake in shares of Stag Industrial during the 4th quarter worth approximately $295,644,000. Alliancebernstein L.P. boosted its holdings in Stag Industrial by 4.3% during the 2nd quarter. Alliancebernstein L.P. now owns 3,950,923 shares of the real estate investment trust's stock valued at $143,339,000 after acquiring an additional 162,887 shares during the period. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 65,502 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Stag Industrial by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,418,556 shares of the real estate investment trust's stock valued at $125,666,000 after acquiring an additional 120,460 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Stag Industrial Trading Down 0.9%

Shares of NYSE STAG opened at $41.67 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.87. The business has a fifty day simple moving average of $38.44 and a two-hundred day simple moving average of $38.15. The firm has a market cap of $7.97 billion, a PE ratio of 32.31 and a beta of 0.97. Stag Industrial, Inc. has a twelve month low of $33.72 and a twelve month high of $42.61.

Stag Industrial (NYSE:STAG - Get Free Report) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. The business had revenue of $224.21 million during the quarter, compared to analysts' expectations of $221.51 million. Stag Industrial had a return on equity of 6.80% and a net margin of 28.25%.The business's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 EPS. Analysts expect that Stag Industrial, Inc. will post 2.64 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.3875 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.55 dividend on an annualized basis and a yield of 3.7%. Stag Industrial's dividend payout ratio is 120.16%.

Analysts Set New Price Targets

STAG has been the topic of a number of recent analyst reports. Raymond James Financial assumed coverage on Stag Industrial in a research note on Wednesday, June 17th. They issued an "outperform" rating and a $44.00 target price on the stock. Barclays upped their price target on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Thursday. Wells Fargo & Company reduced their price target on shares of 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. Evercore reiterated an "outperform" rating and set a $44.00 price objective on shares of Stag Industrial in a report on Wednesday, April 29th. Finally, Weiss Ratings cut shares of Stag Industrial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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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