BlackRock Inc. Invests $1.10 Billion in Stag Industrial, Inc. $STAG

BlackRock Inc. purchased a new position in Stag Industrial, Inc. (NYSE:STAG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,826,227 shares of the real estate investment trust's stock, valued at approximately $1,097,126,000. BlackRock Inc. owned approximately 14.95% of Stag Industrial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of 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 worth $57,000 after buying an additional 285 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Stag Industrial by 1.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,515 shares of the real estate investment trust's stock worth $1,122,000 after purchasing an additional 367 shares during the last quarter. First National Trust Co boosted its position 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 purchasing an additional 388 shares during the last quarter. Root Financial Partners LLC grew its stake in Stag Industrial by 32.9% in the 4th quarter. Root Financial Partners LLC now owns 1,603 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 397 shares during the period. Finally, Gamco Investors INC. ET AL grew its stake in Stag Industrial by 1.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 30,042 shares of the real estate investment trust's stock valued at $1,083,000 after purchasing an additional 402 shares during the period. Institutional investors and hedge funds own 88.67% of the company's stock.

Stag Industrial Price Performance

Shares of Stag Industrial stock opened at $36.68 on Friday. The company's fifty day simple moving average is $38.66 and its two-hundred day simple moving average is $38.33. Stag Industrial, Inc. has a 12-month low of $34.40 and a 12-month high of $42.61. The firm has a market cap of $7.07 billion, a PE ratio of 28.22 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 (NYSE:STAG - Get Free Report) last released 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 return on equity of 6.79% and a net margin of 28.04%.The company had revenue of $224.37 million during the quarter, compared to the consensus estimate of $223.04 million. During the same period in the previous year, the company earned $0.63 earnings per share. Stag Industrial's quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities analysts expect that Stag Industrial, Inc. will post 2.63 EPS for the current year.

Stag Industrial Dividend Announcement

The business also recently declared 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 is Wednesday, September 30th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.2%. Stag Industrial's payout ratio is currently 119.23%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STAG. Weiss Ratings reiterated a "buy (b-)" rating on shares of Stag Industrial in a research note on Friday, July 31st. Robert W. Baird set a $138.00 price target on shares of Stag Industrial in a research note on Friday, July 31st. Wall Street Zen upgraded Stag Industrial from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Evercore reissued an "outperform" rating and set a $44.00 price objective on shares of Stag Industrial in a report on Wednesday, April 29th. Finally, Barclays increased their price target on Stag Industrial from $38.00 to $41.00 and gave the stock an "underweight" rating in a research note on Thursday, July 16th. Three 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, Stag Industrial has a consensus rating of "Hold" and an average target price of $50.50.

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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