Resona Asset Management Co. Ltd. Has $2.89 Million Position in Stag Industrial, Inc. $STAG

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Stag Industrial, Inc. by 11.5% during the first quarter, totaling 81,030 shares valued at approximately $2.89 million.
• Stag Industrial's latest earnings report showed an EPS of $0.63, meeting analyst expectations, with revenues of $207.44 million, representing a 9.4% increase year-over-year.
• The company recently declared a dividend of $0.1242 per share, resulting in a high payout ratio of 117.32%.

Resona Asset Management Co. Ltd. increased its position in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 11.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,030 shares of the real estate investment trust's stock after buying an additional 8,354 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Stag Industrial were worth $2,888,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Stag Industrial by 14.0% during the first quarter. Signaturefd LLC now owns 2,586 shares of the real estate investment trust's stock worth $93,000 after buying an additional 317 shares in the last quarter. Securian Asset Management Inc. grew its stake in Stag Industrial by 2.9% in the first quarter. Securian Asset Management Inc. now owns 14,169 shares of the real estate investment trust's stock valued at $512,000 after purchasing an additional 395 shares in the last quarter. Integrated Advisors Network LLC grew its stake in Stag Industrial by 3.5% in the fourth quarter. Integrated Advisors Network LLC now owns 11,673 shares of the real estate investment trust's stock valued at $395,000 after purchasing an additional 398 shares in the last quarter. PFG Investments LLC grew its stake in Stag Industrial by 5.4% in the first quarter. PFG Investments LLC now owns 8,302 shares of the real estate investment trust's stock valued at $300,000 after purchasing an additional 429 shares in the last quarter. Finally, Moran Wealth Management LLC grew its stake in Stag Industrial by 1.2% in the first quarter. Moran Wealth Management LLC now owns 36,799 shares of the real estate investment trust's stock valued at $1,329,000 after purchasing an additional 436 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STAG has been the subject of a number of analyst reports. Raymond James Financial raised their price target on Stag Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada restated a "sector perform" rating and issued a $38.00 price target on shares of Stag Industrial in a research note on Monday, May 19th. Robert W. Baird decreased their price target on Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Evercore ISI raised their price target on Stag Industrial from $39.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Stag Industrial presently has a consensus rating of "Hold" and a consensus target price of $38.17.

Stag Industrial Stock Performance

Shares of STAG traded up $1.37 during mid-day trading on Friday, reaching $36.95. The company's stock had a trading volume of 263,561 shares, compared to its average volume of 1,479,377. Stag Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $40.75. The stock has a market cap of $6.90 billion, a P/E ratio of 29.11 and a beta of 0.91. The business has a 50-day simple moving average of $35.70 and a two-hundred day simple moving average of $35.02. 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 (NYSE:STAG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.63. Stag Industrial had a return on equity of 6.71% and a net margin of 29.14%.The company had revenue of $207.44 million during the quarter, compared to analysts' expectations of $206.37 million. During the same period last year, the firm posted $0.61 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

Stag Industrial Announces Dividend

The company also recently declared a dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.1242 per share. This represents a yield of 422.0%. The ex-dividend date of this dividend was Thursday, July 31st. Stag Industrial's dividend payout ratio (DPR) is presently 117.32%.

Insiders Place Their Bets

In related news, Director Benjamin S. Butcher sold 28,843 shares of Stag Industrial stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $36.90, for a total transaction of $1,064,306.70. Following the completion of the sale, the director directly owned 7,115 shares of the company's stock, valued at approximately $262,543.50. This trade represents a 80.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

About Stag Industrial

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.