Pacific Heights Asset Management LLC Buys 100,000 Shares of Stag Industrial, Inc. $STAG

Key Points

• Pacific Heights Asset Management increased its Stag Industrial stake by 25% in the fourth quarter, buying 100,000 more shares and bringing its total holdings to 500,000 shares worth about $18.4 million.
• Insider selling was notable, with CEO William R. Crooker and Director Virgis Colbert both selling shares; insiders sold 136,974 shares over the last 90 days.
• Stag Industrial reported solid quarterly results and a dividend, beating EPS estimates and posting 9% revenue growth year over year, while also ঘোষণাing a $0.3875 quarterly dividend for a 4.1% yield.

Pacific Heights Asset Management LLC grew its stake in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 500,000 shares of the real estate investment trust's stock after buying an additional 100,000 shares during the quarter. Pacific Heights Asset Management LLC owned approximately 0.27% of Stag Industrial worth $18,380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new stake in Stag Industrial in the third quarter valued at $27,000. Root Financial Partners LLC bought a new position in Stag Industrial during the 3rd quarter worth $43,000. International Assets Investment Management LLC acquired a new position in Stag Industrial during the 4th quarter worth about $51,000. EverSource Wealth Advisors LLC lifted its holdings in Stag Industrial by 270.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust's stock worth $52,000 after buying an additional 1,048 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Stag Industrial by 76.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 764 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

Insider Transactions at Stag Industrial

In other news, CEO William R. Crooker sold 93,732 shares of Stag Industrial stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $39.17, for a total value of $3,671,482.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Virgis Colbert sold 18,000 shares of Stag Industrial stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $38.08, for a total value of $685,440.00. Following the completion of the transaction, the director directly owned 4,210 shares of the company's stock, valued at approximately $160,316.80. This trade represents a 81.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 136,974 shares of company stock valued at $5,345,904. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on STAG shares. Barclays decreased their price target on Stag Industrial from $39.00 to $38.00 and set an "underweight" rating for the company in a research note on Tuesday, May 5th. Robert W. Baird set a $40.00 target price on Stag Industrial in a report on Tuesday, February 17th. Evercore reissued an "outperform" rating and set a $44.00 target price on shares of Stag Industrial in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Stag Industrial from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Stag Industrial from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $39.78.

Stag Industrial Stock Performance

STAG stock opened at $37.76 on Monday. The stock has a 50-day moving average price of $37.99 and a 200-day moving average price of $38.12. Stag Industrial, Inc. has a 1-year low of $33.72 and a 1-year high of $39.99. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.87. The firm has a market cap of $7.22 billion, a PE ratio of 29.27 and a beta of 1.00.

Stag Industrial (NYSE:STAG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. Stag Industrial had a return on equity of 6.80% and a net margin of 28.25%.The firm had revenue of $224.21 million during the quarter, compared to analyst estimates of $221.52 million. During the same period last year, the company posted $0.61 EPS. The business's quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts expect that Stag Industrial, Inc. will post 2.63 earnings per share for the current year.

Stag Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.3875 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.55 annualized dividend and a dividend yield of 4.1%. Stag Industrial's dividend payout ratio (DPR) is 120.16%.

About Stag Industrial

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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