Geode Capital Management LLC Raises Position in Stag Industrial, Inc. $STAG

Key Points

• Geode Capital Management increased its stake in Stag Industrial by 1.7% in the fourth quarter, adding 65,502 shares and bringing its total holding to 3.83 million shares worth about $140.9 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 88.67% of Stag Industrial’s stock. Several other firms, including Goldman Sachs and First Trust Advisors, also boosted their positions recently.
• Stag Industrial reported better-than-expected quarterly earnings of $0.32 per share on revenue of $224.21 million, while also announcing a quarterly dividend of $0.3875 per share, implying a 4.2% yield.

Geode Capital Management LLC grew its holdings in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,830,915 shares of the real estate investment trust's stock after purchasing an additional 65,502 shares during the quarter. Geode Capital Management LLC owned approximately 2.05% of Stag Industrial worth $140,851,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in STAG. NewEdge Advisors LLC lifted its stake in shares of Stag Industrial by 17.6% during the 1st quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust's stock worth $359,000 after purchasing an additional 1,491 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Stag Industrial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust's stock worth $60,391,000 after purchasing an additional 451,355 shares during the period. Empowered Funds LLC purchased a new position in shares of Stag Industrial during the 1st quarter worth $229,000. EverSource Wealth Advisors LLC lifted its stake in shares of Stag Industrial by 270.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 1,048 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Stag Industrial by 173.4% during the 2nd quarter. First Trust Advisors LP now owns 177,756 shares of the real estate investment trust's stock worth $6,449,000 after purchasing an additional 112,747 shares during the period. Hedge funds and other institutional investors own 88.67% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on STAG shares. Robert W. Baird set a $40.00 price target on Stag Industrial in a research note on Tuesday, February 17th. Wall Street Zen raised Stag Industrial from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Wells Fargo & Company reduced their price target on Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Monday. Evercore restated 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 downgraded Stag Industrial from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $40.00.

Stag Industrial Stock Up 1.3%

Shares of NYSE STAG opened at $36.98 on Friday. Stag Industrial, Inc. has a 12-month low of $33.72 and a 12-month high of $39.99. The company has a market cap of $7.07 billion, a P/E ratio of 28.67 and a beta of 0.98. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average price of $37.94 and a 200 day moving average price of $38.03.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. Stag Industrial had a return on equity of 6.80% and a net margin of 28.25%.The firm had revenue of $224.21 million during the quarter, compared to the consensus estimate of $221.52 million. During the same period in the prior year, the firm earned $0.61 EPS. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. Research analysts anticipate that Stag Industrial, Inc. will post 2.63 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, June 30th. Stag Industrial's dividend payout ratio is currently 120.16%.

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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