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

A number of other institutional investors have also recently added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its holdings in Stag Industrial by 9.5% during the first quarter. HighTower Advisors LLC now owns 14,003 shares of the real estate investment trust's stock worth $506,000 after buying an additional 1,215 shares in the last quarter. Nuveen LLC purchased a new stake in Stag Industrial during the first quarter worth about $129,972,000. Invesco Ltd. boosted its holdings in Stag Industrial by 3.1% during the first quarter. Invesco Ltd. now owns 1,277,526 shares of the real estate investment trust's stock worth $46,144,000 after buying an additional 37,872 shares in the last quarter. Townsquare Capital LLC lifted its holdings in shares of Stag Industrial by 126.9% in the first quarter. Townsquare Capital LLC now owns 17,652 shares of the real estate investment trust's stock valued at $638,000 after purchasing an additional 9,871 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Stag Industrial in the first quarter valued at about $372,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Stag Industrial Trading Down 0.7%

Shares of NYSE:STAG traded down $0.2480 during trading on Thursday, reaching $35.6020. The stock had a trading volume of 438,628 shares, compared to its average volume of 1,484,133. The business has a fifty day moving average price of $35.72 and a 200-day moving average price of $35.00. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The stock has a market cap of $6.65 billion, a P/E ratio of 28.03 and a beta of 0.91. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $40.75.

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

Stag Industrial Dividend Announcement

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

Insider Buying and Selling

In related news, Director Benjamin S. Butcher sold 28,843 shares of the company'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 transaction of $1,064,306.70. Following the completion of the transaction, the director owned 7,115 shares of the company's stock, valued at approximately $262,543.50. This represents a 80.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. 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. Robert W. Baird reduced their price target on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Evercore ISI boosted their price objective on shares of Stag Industrial from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial boosted their price objective on shares of Stag Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $38.17.

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.