Public Employees Retirement System of Ohio Acquires Shares of 280,105 Stag Industrial, Inc. $STAG

Key Points

• Public Employees Retirement System of Ohio acquired 280,105 shares of Stag Industrial, valued at approximately $10.66 million, representing about 0.15% of the REIT. Institutional investors collectively own 88.67% of the company.
• Stag Industrial reported quarterly revenue of $224.37 million, up 8.1% year over year and slightly above estimates, but earnings per share of $0.28 fell well short of the $0.65 consensus forecast.
• The company declared a quarterly dividend of $0.3875 per share, or $1.55 annualized, implying a 4.2% yield. Analysts’ consensus rating is Hold, with an average price target of $40.90 versus the reported share price of $37.21.

Public Employees Retirement System of Ohio acquired a new stake in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 280,105 shares of the real estate investment trust's stock, valued at approximately $10,661,000. Public Employees Retirement System of Ohio owned about 0.15% of Stag Industrial at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of STAG. BlackRock Inc. bought a new stake in shares of Stag Industrial in the second quarter worth about $1,097,126,000. Norges Bank bought a new position in Stag Industrial during the fourth quarter valued at approximately $295,644,000. Bank of New York Mellon Corp bought a new position in Stag Industrial during the second quarter valued at approximately $58,805,000. Bank of America Corp DE purchased a new position in Stag Industrial during the 2nd quarter valued at approximately $55,184,000. Finally, Jupiter Topco LLC purchased a new position in Stag Industrial during the 2nd quarter valued at approximately $43,461,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Stag Industrial Stock Performance

Shares of NYSE:STAG opened at $37.21 on Tuesday. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 28.62 and a beta of 0.96. Stag Industrial, Inc. has a 12 month low of $34.40 and a 12 month high of $42.61. The firm's 50-day moving average is $38.55 and its 200 day moving average is $38.25. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.93.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.37). Stag Industrial had a return on equity of 6.79% and a net margin of 28.04%.The firm had revenue of $224.37 million during the quarter, compared to the consensus estimate of $223.04 million. During the same period in the previous year, the business earned $0.63 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts predict that Stag Industrial, Inc. will post 2.63 EPS for the current year.

Stag Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Stag Industrial's dividend payout ratio (DPR) is currently 119.23%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Robert W. Baird raised Stag Industrial from a "neutral" rating to an "outperform" rating and set a $42.00 price objective on the stock in a report on Monday. Raymond James Financial began coverage on shares of Stag Industrial in a report on Wednesday, June 17th. They issued an "outperform" rating and a $44.00 target price for the company. Weiss Ratings restated a "buy (b-)" rating on shares of Stag Industrial in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Stag Industrial from a "hold" rating to a "sell" rating in a research note on Monday, August 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, June 1st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $40.90.

Stag Industrial Company 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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