Picton Mahoney Asset Management Makes New Investment in Stag Industrial, Inc. $STAG

Key Points

• Picton Mahoney Asset Management bought a new stake of 26,977 shares in STAG (~$952,000) in Q3, joining other institutions (88.67% institutional ownership) as owners of the REIT.
• Stag Industrial beat Q results with $0.66 EPS vs. $0.63 expected and revenue up 10.8% YoY to $220.9M, and announced a quarterly dividend of $0.3875 (annualized $1.55, yield 4.1%) although the payout ratio is a high 102.05%.
• The stock carries a consensus "Hold" rating with an average target of $39.50 and trades near $38.10 (52-week high $39.98), while insiders sold 136,974 shares (~$5.35M) over the past three months.

Picton Mahoney Asset Management acquired a new stake in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,977 shares of the real estate investment trust's stock, valued at approximately $952,000.

A number of other hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC purchased a new position in Stag Industrial during the 3rd quarter valued at approximately $43,000. EverSource Wealth Advisors LLC boosted its position in shares of 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 valued at $52,000 after acquiring an additional 1,048 shares during the last quarter. Covestor Ltd boosted its position in shares of Stag Industrial by 98.5% during the 3rd quarter. Covestor Ltd now owns 1,769 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 878 shares during the last quarter. Huntington National Bank grew its holdings in shares of Stag Industrial by 23.2% in the second quarter. Huntington National Bank now owns 3,495 shares of the real estate investment trust's stock valued at $127,000 after purchasing an additional 659 shares in the last quarter. Finally, Aew Capital Management L P grew its holdings in shares of Stag Industrial by 19.4% in the third quarter. Aew Capital Management L P now owns 4,300 shares of the real estate investment trust's stock valued at $152,000 after purchasing an additional 700 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on STAG. Wells Fargo & Company increased their price target on shares of Stag Industrial from $37.00 to $38.00 and gave the company an "equal weight" rating in a report on Monday, November 10th. Barclays reissued an "underweight" rating and set a $39.00 price objective (down from $40.00) on shares of Stag Industrial in a research note on Tuesday, January 13th. iA Financial set a $39.00 price objective on Stag Industrial in a research note on Tuesday, January 13th. Wall Street Zen upgraded Stag Industrial from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Finally, Evercore reissued an "outperform" rating on shares of Stag Industrial in a research report on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Stag Industrial presently has a consensus rating of "Hold" and an average target price of $39.50.

Stag Industrial Stock Down 2.2%

Shares of NYSE STAG opened at $38.10 on Friday. Stag Industrial, Inc. has a 52-week low of $28.61 and a 52-week high of $39.98. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 26.10 and a beta of 1.04. The stock has a 50 day moving average price of $38.06 and a 200 day moving average price of $37.58. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.90 and a current ratio of 1.90.

Stag Industrial (NYSE:STAG - Get Free Report) last issued its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.03. Stag Industrial had a return on equity of 7.68% and a net margin of 32.35%.The business had revenue of $220.90 million during the quarter, compared to analyst estimates of $213.66 million. During the same period in the previous year, the company posted $0.61 EPS. Stag Industrial's revenue was up 10.8% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, March 31st. Stag Industrial's payout ratio is presently 102.05%.

Insider Buying and Selling

In related news, EVP Matts Pinard sold 25,242 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $39.18, for a total value of $988,981.56. Following the completion of the sale, the executive vice president directly owned 951 shares of the company's stock, valued at $37,260.18. This represents a 96.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Virgis Colbert sold 18,000 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $38.08, for a total transaction of $685,440.00. Following the transaction, the director owned 4,210 shares in the company, valued at approximately $160,316.80. The trade was a 81.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 136,974 shares of company stock valued at $5,345,904 over the last three months. 1.10% of the stock is owned by company insiders.

Stag Industrial Profile

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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