Glenmede Trust Co. NA Reduces Stock Position in Stag Industrial, Inc. $STAG

Key Points

• Glenmede Trust Co. reduced its Stag Industrial position by 8.1% in the first quarter, selling 30,362 shares and retaining 345,325 shares valued at approximately $12.45 million. Institutional investors collectively own 88.67% of the REIT.
• Analyst sentiment is mixed, with three Buy, six Hold and one Sell rating; the consensus is Hold with an average price target of $50.50.
• Stag Industrial reported quarterly EPS of $0.28, missing estimates of $0.65, while revenue rose 8.1% year over year to $224.37 million. The company declared a quarterly dividend of $0.3875 per share, equivalent to a 4.1% annualized yield.

Glenmede Trust Co. NA trimmed its position in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 345,325 shares of the real estate investment trust's stock after selling 30,362 shares during the period. Glenmede Trust Co. NA owned about 0.18% of Stag Industrial worth $12,452,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Stag Industrial during the 4th quarter valued at approximately $295,644,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Stag Industrial by 434,005.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,098,286 shares of the real estate investment trust's stock worth $40,373,000 after buying an additional 1,098,033 shares during the last quarter. Heitman Real Estate Securities LLC purchased a new position in shares of Stag Industrial during the fourth quarter valued at approximately $33,558,000. Mackenzie Financial Corp purchased a new position in shares of Stag Industrial during the fourth quarter valued at approximately $25,459,000. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Stag Industrial by 1,818.4% during the third quarter. Balyasny Asset Management L.P. now owns 570,931 shares of the real estate investment trust's stock valued at $20,148,000 after acquiring an additional 541,170 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Robert W. Baird set a $138.00 target price on shares of Stag Industrial in a research report on Friday. Weiss Ratings cut shares of Stag Industrial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. Raymond James Financial initiated 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 raised their price objective 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 cut their price objective 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. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $50.50.

Stag Industrial Price Performance

STAG opened at $38.24 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.93. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 29.42 and a beta of 0.96. The stock has a fifty day simple moving average of $38.87 and a two-hundred day simple moving average of $38.37. Stag Industrial, Inc. has a 12-month low of $33.72 and a 12-month high of $42.61.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.37). The business had revenue of $224.37 million for the quarter, compared to the consensus estimate of $223.04 million. Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. The business's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. Research analysts predict 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. Investors of record on Wednesday, September 30th will be paid a dividend of $0.3875 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.55 annualized dividend and a yield of 4.1%. Stag Industrial's payout ratio is presently 119.23%.

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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