New York State Teachers Retirement System increased its position in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 47.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,963 shares of the real estate investment trust's stock after purchasing an additional 17,958 shares during the period. New York State Teachers Retirement System's holdings in Stag Industrial were worth $2,021,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of STAG. Versant Capital Management Inc increased its holdings in Stag Industrial by 204.9% in the 1st quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 506 shares during the last quarter. Tsfg LLC bought a new stake in Stag Industrial in the 1st quarter valued at $32,000. Garde Capital Inc. bought a new stake in Stag Industrial in the 1st quarter valued at $33,000. Proathlete Wealth Management LLC bought a new stake in Stag Industrial in the 1st quarter valued at $47,000. Finally, Quarry LP bought a new stake in Stag Industrial in the 4th quarter valued at $62,000. 88.67% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
STAG has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Raymond James Financial lifted their price objective on shares of Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $38.00 price objective on shares of Stag Industrial in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $39.71.
Check Out Our Latest Analysis on STAG
Insider Transactions at Stag Industrial
In other news, Director Benjamin S. Butcher sold 28,843 shares of the business's 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 completion of the sale, the director owned 7,115 shares in the company, valued at approximately $262,543.50. The trade was a 80.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Stag Industrial Trading Up 0.5%
Shares of STAG stock traded up $0.18 during trading hours on Friday, reaching $36.12. 1,666,376 shares of the stock were exchanged, compared to its average volume of 1,288,020. Stag Industrial, Inc. has a 12-month low of $28.61 and a 12-month high of $41.63. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.86. The company's 50-day moving average price is $35.71 and its 200-day moving average price is $34.72. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 27.16 and a beta of 0.93.
Stag Industrial (NYSE:STAG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $205.57 million during the quarter, compared to analysts' expectations of $202.04 million. Stag Industrial had a net margin of 31.05% and a return on equity of 7.04%. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 EPS. As a group, equities analysts anticipate that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.
Stag Industrial Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.1242 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.49 annualized dividend and a yield of 4.13%. Stag Industrial's dividend payout ratio (DPR) is 112.03%.
Stag Industrial Profile
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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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