Jupiter Topco LLC Invests $43.46 Million in Stag Industrial, Inc. $STAG

Key Points

• Jupiter Topco LLC acquired 1.14 million shares of Stag Industrial during the second quarter, valued at approximately $43.46 million and representing about 0.59% of the REIT.
• Institutional ownership remains high at 88.67%, with major purchases by BlackRock, Norges Bank, Bank of New York Mellon, UBS Asset Management and Legal & General.
• Analysts maintain a consensus “Hold” rating with a $50.50 price target. Stag Industrial reported quarterly revenue above estimates but missed on earnings, while its $0.3875 quarterly dividend implies a 4.2% annual yield.

Jupiter Topco LLC bought a new stake in Stag Industrial, Inc. (NYSE:STAG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,141,838 shares of the real estate investment trust's stock, valued at approximately $43,461,000. Jupiter Topco LLC owned approximately 0.59% of Stag Industrial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of STAG. BlackRock Inc. purchased a new stake in shares of Stag Industrial during the 2nd quarter valued at $1,097,126,000. Norges Bank purchased a new position in Stag Industrial in the fourth quarter worth $295,644,000. Bank of New York Mellon Corp purchased a new position in Stag Industrial in the second quarter worth $58,805,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Stag Industrial by 434,005.1% in the fourth 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 valued at $40,373,000 after acquiring an additional 1,098,033 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in Stag Industrial in the second quarter valued at $36,392,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Analyst Upgrades and Downgrades

STAG has been the topic of a number of research reports. Weiss Ratings restated a "buy (b-)" rating on shares of Stag Industrial in a research report on Friday, July 31st. Wells Fargo & Company cut their price objective on Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, June 1st. Wall Street Zen lowered Stag Industrial from a "hold" rating to a "sell" rating in a research report on Monday. Raymond James Financial started coverage on Stag Industrial in a report on Wednesday, June 17th. They set an "outperform" rating and a $44.00 price objective on the stock. Finally, Robert W. Baird set a $138.00 target price on Stag Industrial in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $50.50.

Stag Industrial Price Performance

STAG opened at $37.10 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.76 and a quick ratio of 1.76. The stock's 50 day simple moving average is $38.60 and its 200 day simple moving average is $38.28. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 28.54 and a beta of 0.96. Stag Industrial, Inc. has a 1 year low of $34.40 and a 1 year high of $42.61.

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 the consensus estimate of $0.65 by ($0.37). The company had revenue of $224.37 million during 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 revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. As a group, analysts predict that Stag Industrial, Inc. will post 2.63 earnings per share for the current year.

Stag Industrial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, September 30th. Stag Industrial's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source