California State Teachers Retirement System Boosts Holdings in Stag Industrial, Inc. $STAG

Key Points

• California State Teachers Retirement System increased its Stag Industrial stake by 25.3% in the first quarter, bringing its holdings to 221,520 shares worth approximately $8.0 million. Institutional investors collectively own 88.67% of the REIT.
• Stag Industrial reported quarterly revenue of $224.37 million, up 8.1% year over year and slightly above estimates, but earnings per share of $0.28 fell well short of the $0.65 consensus forecast.
• The company declared a quarterly dividend of $0.3875 per share, equivalent to an annualized $1.55 dividend and a 4.1% yield. Analysts maintain a consensus “Hold” rating, with a $50.50 average price target.

California State Teachers Retirement System raised its position in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 25.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,520 shares of the real estate investment trust's stock after purchasing an additional 44,667 shares during the period. California State Teachers Retirement System owned 0.12% of Stag Industrial worth $7,988,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its position in 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 worth $347,261,000 after buying an additional 142,132 shares in the last quarter. Norges Bank purchased a new stake in shares of Stag Industrial in the 4th quarter valued at about $295,644,000. Alliancebernstein L.P. boosted its position in shares of 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 last quarter. Geode Capital Management LLC boosted its position in shares of 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Stag Industrial by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,418,556 shares of the real estate investment trust's stock worth $125,666,000 after purchasing an additional 120,460 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Stag Industrial Stock Down 2.0%

Shares of NYSE STAG opened at $37.78 on Wednesday. The stock has a market capitalization of $7.28 billion, a P/E ratio of 29.06 and a beta of 0.96. Stag Industrial, Inc. has a one year low of $34.18 and a one year high of $42.61. The firm's 50 day simple moving average is $38.86 and its two-hundred day simple moving average is $38.38. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.76 and a quick ratio of 1.76.

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

Stag Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 yield of 4.1%. Stag Industrial's dividend payout ratio (DPR) is presently 119.23%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STAG. Evercore restated an "outperform" rating and issued a $44.00 price objective on shares of Stag Industrial in a research report on Wednesday, April 29th. Robert W. Baird set a $138.00 target price on shares of Stag Industrial in a research report on Friday. Raymond James Financial assumed coverage on shares of Stag Industrial in a research note on Wednesday, June 17th. They issued an "outperform" rating and a $44.00 price target for the company. Barclays increased 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, July 16th. Finally, Wells Fargo & Company dropped their price objective on shares of Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, June 1st. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $50.50.

Stag Industrial 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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