Pacific Heights Asset Management LLC Takes $4.52 Million Position in Stag Industrial, Inc. (NYSE:STAG)

Pacific Heights Asset Management LLC purchased a new position in Stag Industrial, Inc. (NYSE:STAG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 125,000 shares of the real estate investment trust's stock, valued at approximately $4,515,000. Pacific Heights Asset Management LLC owned 0.07% of Stag Industrial at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in shares of Stag Industrial in the fourth quarter valued at approximately $470,000. US Bancorp DE lifted its stake in Stag Industrial by 1.5% in the 4th quarter. US Bancorp DE now owns 27,107 shares of the real estate investment trust's stock worth $917,000 after purchasing an additional 402 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Stag Industrial by 277.3% in the 4th quarter. Jones Financial Companies Lllp now owns 4,577 shares of the real estate investment trust's stock valued at $155,000 after purchasing an additional 3,364 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Stag Industrial by 28.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,306 shares of the real estate investment trust's stock valued at $179,000 after purchasing an additional 1,187 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Stag Industrial by 29.4% during the 4th quarter. Victory Capital Management Inc. now owns 439,297 shares of the real estate investment trust's stock valued at $14,857,000 after purchasing an additional 99,727 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on STAG shares. Robert W. Baird lowered their price objective on Stag Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $38.00 price target on shares of Stag Industrial in a report on Monday, May 19th. Finally, Raymond James Financial lifted their price target on Stag Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $39.71.

Insider Activity at Stag Industrial

In other news, Director Benjamin S. Butcher sold 28,843 shares of the business's stock in a transaction that occurred on 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 directly owned 7,115 shares in the company, valued at approximately $262,543.50. The trade was a 80.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

Stag Industrial Price Performance

NYSE:STAG traded up $0.29 during midday trading on Friday, hitting $36.95. The company had a trading volume of 1,451,111 shares, compared to its average volume of 1,281,000. The company has a market capitalization of $6.90 billion, a PE ratio of 27.78 and a beta of 0.93. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.86. Stag Industrial, Inc. has a 52-week low of $28.61 and a 52-week high of $41.63. The stock's fifty day moving average price is $35.37 and its 200-day moving average price is $34.65.

Stag Industrial (NYSE:STAG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.61 earnings per share (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 return on equity of 7.04% and a net margin of 31.05%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. As a group, research analysts expect that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Announces Dividend

The company also recently announced a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.1242 dividend. This represents a yield of 4.37%. The ex-dividend date of this dividend was Friday, May 30th. Stag Industrial's dividend payout ratio is currently 112.03%.

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.