Ceredex Value Advisors LLC cut its position in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 10.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 399,800 shares of the real estate investment trust's stock after selling 48,100 shares during the quarter. Ceredex Value Advisors LLC owned about 0.21% of Stag Industrial worth $14,441,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in Stag Industrial by 204.9% during the first quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 506 shares during the last quarter. Tsfg LLC acquired a new stake in Stag Industrial during the first quarter worth about $32,000. Garde Capital Inc. acquired a new stake in Stag Industrial during the first quarter worth about $33,000. Avalon Trust Co acquired a new stake in Stag Industrial during the first quarter worth about $36,000. Finally, Keystone Global Partners LLC acquired a new stake in Stag Industrial during the first quarter worth about $41,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Benjamin S. Butcher sold 28,843 shares of Stag Industrial stock in a transaction on Friday, June 6th. The stock was sold at an average price of $36.90, for a total transaction of $1,064,306.70. Following the transaction, the director directly owned 7,115 shares in the company, valued at approximately $262,543.50. This trade represents a 80.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on STAG shares. Robert W. Baird dropped their price target on Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Evercore ISI upped their price target on Stag Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Raymond James Financial upped their price target on Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $38.00 target price on shares of Stag Industrial in a research note on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Stag Industrial presently has an average rating of "Hold" and an average target price of $38.17.
Read Our Latest Report on STAG
Stag Industrial Stock Performance
Shares of Stag Industrial stock traded up $0.13 on Friday, reaching $36.89. 1,069,479 shares of the company were exchanged, compared to its average volume of 1,475,337. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 1.31. The company's 50-day moving average is $35.74 and its two-hundred day moving average is $35.09. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 29.05 and a beta of 0.91. Stag Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $40.62.
Stag Industrial (NYSE:STAG - Get Free Report) last posted its 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. Stag Industrial had a return on equity of 6.71% and a net margin of 29.14%.The firm had revenue of $207.44 million for the quarter, compared to analysts' expectations of $206.37 million. During the same period last year, the firm earned $0.61 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. As a group, research analysts expect that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.
Stag Industrial Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.1242 dividend. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, August 29th. Stag Industrial's dividend payout ratio (DPR) is currently 117.32%.
Stag Industrial Company Profile
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Free Report)
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.
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