Mitsubishi UFJ Asset Management Co. Ltd. Invests $6.24 Million in Stag Industrial, Inc. $STAG

Key Points

• Mitsubishi UFJ Asset Management acquired 163,848 shares of Stag Industrial, valued at approximately $6.24 million, while 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 per share, equivalent to an annualized $1.55 payout and a 4.2% yield. Analysts collectively rate the stock “Hold,” with an average price target of $50.50.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 163,848 shares of the real estate investment trust's stock, valued at approximately $6,236,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Stag Industrial as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. J.Safra Asset Management Corp bought a new position in Stag Industrial in the second quarter worth approximately $470,000. Global Retirement Partners LLC bought a new stake in Stag Industrial during the 2nd quarter valued at $463,000. Bank of New York Mellon Corp purchased a new position in shares of Stag Industrial in the 2nd quarter valued at $58,805,000. GSA Capital Partners LLP purchased a new position in shares of Stag Industrial in the 2nd quarter valued at $1,494,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Stag Industrial in the 2nd quarter worth $3,693,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Stag Industrial Stock Up 0.9%

Stag Industrial stock opened at $36.68 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 has a market capitalization of $7.07 billion, a price-to-earnings ratio of 28.22 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. The business has a fifty day moving average price of $38.66 and a 200-day moving average price of $38.33.

Stag Industrial (NYSE:STAG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.37). Stag Industrial had a return on equity of 6.79% and a net margin of 28.04%.The business had revenue of $224.37 million for the quarter, compared to analysts' expectations of $223.04 million. During the same quarter in the previous year, the firm posted $0.63 EPS. Stag Industrial's revenue was up 8.1% on a year-over-year basis. Equities research analysts forecast that Stag Industrial, Inc. will post 2.63 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Stag Industrial's payout ratio is currently 119.23%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating for the company in a research note on Monday, June 1st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Stag Industrial in a research note on Friday, July 31st. Barclays boosted their target price 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. Raymond James Financial began coverage on shares of Stag Industrial in a research report on Wednesday, June 17th. They set an "outperform" rating and a $44.00 price target for the company. Finally, Wall Street Zen upgraded shares of Stag Industrial from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Three 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. According to data from MarketBeat.com, Stag Industrial 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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