Lazard Asset Management LLC lifted its holdings in STAG Industrial, Inc. (NYSE:STAG - Free Report) by 43.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,242 shares of the real estate investment trust's stock after purchasing an additional 7,353 shares during the quarter. Lazard Asset Management LLC's holdings in STAG Industrial were worth $819,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of STAG. Norges Bank acquired a new stake in shares of STAG Industrial in the fourth quarter valued at $75,471,000. FMR LLC raised its holdings in shares of STAG Industrial by 30.1% during the fourth quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust's stock valued at $305,224,000 after acquiring an additional 2,088,839 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of STAG Industrial in the 4th quarter valued at approximately $57,561,000. Northern Trust Corp boosted its stake in STAG Industrial by 33.3% in the 4th quarter. Northern Trust Corp now owns 2,090,046 shares of the real estate investment trust's stock worth $70,685,000 after purchasing an additional 522,568 shares during the period. Finally, Franklin Resources Inc. boosted its stake in STAG Industrial by 114.3% in the 4th quarter. Franklin Resources Inc. now owns 797,457 shares of the real estate investment trust's stock worth $26,970,000 after purchasing an additional 425,362 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
STAG has been the subject of a number of research analyst reports. Robert W. Baird reduced their target price on STAG Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Royal Bank of Canada restated a "sector perform" rating and set a $38.00 price objective on shares of STAG Industrial in a research report on Monday, May 19th. Barclays lowered their target price on STAG Industrial from $40.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Finally, Raymond James increased their price target on shares of STAG Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $39.63.
Check Out Our Latest Research Report on STAG Industrial
STAG Industrial Stock Down 0.5%
NYSE STAG traded down $0.18 during trading on Monday, reaching $34.09. The company's stock had a trading volume of 781,338 shares, compared to its average volume of 1,228,103. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $6.36 billion, a PE ratio of 32.78 and a beta of 0.93. STAG Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $41.63. The business has a 50-day moving average price of $33.71 and a 200-day moving average price of $34.65.
STAG Industrial (NYSE:STAG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $205.57 million during the quarter, compared to analyst estimates of $202.04 million. STAG Industrial had a net margin of 24.64% and a return on equity of 5.51%. STAG Industrial's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. On average, research analysts forecast that STAG Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.
STAG Industrial Announces Dividend
The business also recently disclosed a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.1242 dividend. This represents a dividend yield of 4.37%. The ex-dividend date of this dividend is Friday, May 30th. STAG Industrial's payout ratio is 112.03%.
STAG Industrial Profile
(
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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