First Trust Advisors LP Raises Stake in Stag Industrial, Inc. $STAG

Key Points

• First Trust Advisors LP increased its Stag Industrial stake by 132.8% in the first quarter, reaching 130,916 shares valued at approximately $4.7 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 missed consensus by $0.37.
• The company declared a quarterly dividend of $0.3875, equivalent to $1.55 annually and a 4.1% yield. Analysts’ consensus rating is “Hold,” with an average price target of $50.50.

First Trust Advisors LP lifted its stake in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 132.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,916 shares of the real estate investment trust's stock after purchasing an additional 74,681 shares during the period. First Trust Advisors LP owned about 0.07% of Stag Industrial worth $4,721,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Stag Industrial by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,983,231 shares of the real estate investment trust's stock valued at $107,576,000 after buying an additional 113,678 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Stag Industrial by 32.2% in the first quarter. Parallel Advisors LLC now owns 4,883 shares of the real estate investment trust's stock valued at $176,000 after purchasing an additional 1,190 shares during the period. Swiss National Bank grew its stake in Stag Industrial by 0.4% in the first quarter. Swiss National Bank now owns 369,500 shares of the real estate investment trust's stock worth $13,324,000 after purchasing an additional 1,400 shares in the last quarter. California Public Employees Retirement System increased its holdings in Stag Industrial by 5.8% during the 1st quarter. California Public Employees Retirement System now owns 385,548 shares of the real estate investment trust's stock worth $13,903,000 after purchasing an additional 21,088 shares during the period. Finally, Assetmark Inc. raised its position in Stag Industrial by 3.4% during the 1st quarter. Assetmark Inc. now owns 43,506 shares of the real estate investment trust's stock valued at $1,569,000 after purchasing an additional 1,443 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Stag Industrial Stock Down 2.0%

NYSE:STAG opened at $37.78 on Wednesday. The company's 50-day simple moving average is $38.86 and its 200-day simple moving average is $38.38. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.76 and a current ratio of 1.76. Stag Industrial, Inc. has a fifty-two week low of $34.18 and a fifty-two week high of $42.61. 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 (NYSE:STAG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.28 EPS 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 firm had revenue of $224.37 million for the quarter, compared to the consensus estimate of $223.04 million. During the same quarter last year, the firm earned $0.63 EPS. The company's revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that Stag Industrial, Inc. will post 2.63 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given 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 4.1%. Stag Industrial's dividend payout ratio (DPR) is presently 119.23%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Monday, June 1st. Raymond James Financial started coverage on shares of Stag Industrial in a research note on Wednesday, June 17th. They issued an "outperform" rating and a $44.00 price objective for the company. Robert W. Baird set a $138.00 target price on shares of Stag Industrial in a research report on Friday. Evercore restated an "outperform" rating and issued a $44.00 price target on shares of Stag Industrial in a report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stag Industrial in a research report on Friday. 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $50.50.

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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