Pacific Heights Asset Management LLC Grows Stake in Stag Industrial, Inc. $STAG

Key Points

• Pacific Heights Asset Management LLC increased its stake in Stag Industrial by 140.0% during Q2, owning 300,000 shares valued at approximately $10.88 million.
• Stag Industrial's recent quarterly earnings report revealed a net margin of 29.14% and a 9.4% year-over-year revenue increase, meeting analysts' EPS estimate of $0.63.
• The company declared a monthly dividend of $0.1242 to be paid on January 15, representing an annualized yield of 3.9%.

Pacific Heights Asset Management LLC increased its stake in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 140.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,000 shares of the real estate investment trust's stock after buying an additional 175,000 shares during the quarter. Pacific Heights Asset Management LLC owned about 0.16% of Stag Industrial worth $10,884,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in STAG. Nuveen LLC purchased a new stake in shares of Stag Industrial during the first quarter valued at $129,972,000. Cbre Investment Management Listed Real Assets LLC lifted its position in Stag Industrial by 152.1% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,938,350 shares of the real estate investment trust's stock valued at $70,013,000 after purchasing an additional 1,169,533 shares during the period. Goldman Sachs Group Inc. lifted its position in Stag Industrial by 37.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust's stock valued at $60,391,000 after purchasing an additional 451,355 shares during the period. American Century Companies Inc. lifted its position in Stag Industrial by 606.8% during the first quarter. American Century Companies Inc. now owns 445,853 shares of the real estate investment trust's stock valued at $16,104,000 after purchasing an additional 382,771 shares during the period. Finally, Vanguard Group Inc. lifted its position in Stag Industrial by 1.3% during the first quarter. Vanguard Group Inc. now owns 26,178,628 shares of the real estate investment trust's stock valued at $945,572,000 after purchasing an additional 347,729 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Stag Industrial Stock Down 0.5%

STAG stock opened at $38.58 on Wednesday. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 30.38 and a beta of 0.92. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86. Stag Industrial, Inc. has a 12 month low of $28.61 and a 12 month high of $38.98. The firm has a 50-day moving average of $36.12 and a two-hundred day moving average of $35.27.

Stag Industrial (NYSE:STAG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, meeting analysts' consensus estimates of $0.63. The company had revenue of $207.44 million during the quarter, compared to the consensus estimate of $206.37 million. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. Stag Industrial's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. As a group, analysts forecast that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.1242 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 3.9%. Stag Industrial's dividend payout ratio is 117.32%.

Analysts Set New Price Targets

STAG has been the subject of a number of research reports. Evercore ISI boosted their target price on shares of Stag Industrial from $40.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Industrial Alliance Securities set a $37.00 price objective on shares of Stag Industrial in a research report on Wednesday, October 1st. Cantor Fitzgerald initiated coverage on shares of Stag Industrial in a research report on Wednesday, October 1st. They issued a "neutral" rating and a $37.00 price objective for the company. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Stag Industrial in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Stag Industrial presently has a consensus rating of "Hold" and an average price target of $38.00.

Insider Buying and Selling

In related news, Director Larry T. Guillemette sold 2,004 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $35.20, for a total transaction of $70,540.80. Following the completion of the transaction, the director owned 38,666 shares of the company's stock, valued at approximately $1,361,043.20. This trade represents a 4.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin S. Butcher sold 25,000 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $36.91, for a total transaction of $922,750.00. Following the transaction, the director directly owned 7,562 shares of the company's stock, valued at $279,113.42. The trade was a 76.78% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Stag Industrial 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.

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