New Age Alpha Advisors LLC Cuts Stake in Stag Industrial, Inc. (NYSE:STAG)

Key Points

• New Age Alpha Advisors LLC significantly reduced its position in Stag Industrial, Inc. by 89.5%, resulting in holdings valued at approximately $484,000.
• Stag Industrial reported earnings of $0.63 per share for the latest quarter, matching analysts' expectations, with revenue of $207.44 million, up 9.4% year-over-year.
• The company announced a dividend of $0.1242 per share, representing a high dividend yield of 422.0%, with an ex-dividend date set for July 31st.

New Age Alpha Advisors LLC reduced its stake in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 89.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,394 shares of the real estate investment trust's stock after selling 114,263 shares during the period. New Age Alpha Advisors LLC's holdings in Stag Industrial were worth $484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thoroughbred Financial Services LLC bought a new position in shares of Stag Industrial in the first quarter valued at approximately $207,000. Argent Trust Co raised its position in Stag Industrial by 1.2% in the 1st quarter. Argent Trust Co now owns 63,091 shares of the real estate investment trust's stock worth $2,279,000 after purchasing an additional 736 shares during the last quarter. Avalon Trust Co bought a new position in Stag Industrial in the 1st quarter worth approximately $36,000. Eliot Finkel Investment Counsel LLC raised its position in Stag Industrial by 11.1% in the 1st quarter. Eliot Finkel Investment Counsel LLC now owns 60,915 shares of the real estate investment trust's stock worth $2,200,000 after purchasing an additional 6,065 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Stag Industrial by 24.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,955 shares of the real estate investment trust's stock worth $576,000 after purchasing an additional 3,099 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Stag Industrial news, Director Benjamin S. Butcher sold 28,843 shares of Stag Industrial stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $36.90, for a total value of $1,064,306.70. Following the sale, the director owned 7,115 shares of the company's stock, valued at approximately $262,543.50. The trade was a 80.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company's stock.

Stag Industrial Trading Down 1.0%

NYSE STAG traded down $0.35 during mid-day trading on Monday, reaching $34.28. 934,112 shares of the stock were exchanged, compared to its average volume of 1,505,310. Stag Industrial, Inc. has a one year low of $28.61 and a one year high of $40.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market cap of $6.40 billion, a P/E ratio of 26.99 and a beta of 0.91. The stock has a 50 day simple moving average of $35.95 and a 200-day simple moving average of $34.98.

Stag Industrial (NYSE:STAG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The firm had revenue of $207.44 million during the quarter, compared to the consensus estimate of $206.37 million. During the same period in the previous year, the firm posted $0.61 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. On average, analysts anticipate that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a dividend of $0.1242 per share. The ex-dividend date is Thursday, July 31st. This represents a yield of 422.0%. Stag Industrial's payout ratio is 117.32%.

Wall Street Analyst Weigh In

Several analysts have commented on STAG shares. Robert W. Baird dropped their target price on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Evercore ISI upped their target price on shares of Stag Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada restated a "sector perform" rating and set a $38.00 price objective on shares of Stag Industrial in a research note on Monday, May 19th. Finally, Raymond James Financial upped their target price on shares of Stag Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Stag Industrial has a consensus rating of "Hold" and an average target price of $38.17.

Stag Industrial Company Profile

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.