Stag Industrial, Inc. $STAG Shares Acquired by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Stag Industrial by 12.9% in Q3 to 1,495,511 shares (about 0.80% ownership), adding 170,639 shares and valuing the holding at roughly $52.78 million.
• Stag beat estimates with $0.66 EPS (vs. $0.63 expected) and reported revenue of $220.9 million, a 10.8% year-over-year increase.
• The company declared a quarterly dividend of $0.3875 per share (annualized $1.55) for a 4.2% yield, with an ex-dividend date of March 31 and a payout ratio of 102.05%.

JPMorgan Chase & Co. raised its position in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 12.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,495,511 shares of the real estate investment trust's stock after buying an additional 170,639 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.80% of Stag Industrial worth $52,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STAG. CIBC Private Wealth Group LLC boosted its stake in shares of Stag Industrial by 34.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,841 shares of the real estate investment trust's stock worth $206,000 after acquiring an additional 1,511 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Stag Industrial during the 3rd quarter worth approximately $1,732,000. Coldstream Capital Management Inc. lifted its stake in Stag Industrial by 1.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 68,032 shares of the real estate investment trust's stock valued at $2,401,000 after buying an additional 918 shares in the last quarter. Mizuho Markets Cayman LP acquired a new stake in Stag Industrial during the 3rd quarter valued at $6,890,000. Finally, Fulcrum Asset Management LLP acquired a new stake in Stag Industrial during the 3rd quarter valued at $69,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on STAG shares. Barclays reissued an "underweight" rating and issued a $39.00 price target (down from $40.00) on shares of Stag Industrial in a report on Tuesday, January 13th. Robert W. Baird set a $40.00 price objective on Stag Industrial in a research report on Tuesday, February 17th. JPMorgan Chase & Co. upped their price objective on shares of Stag Industrial from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, February 19th. iA Financial set a $39.00 price target on Stag Industrial in a research note on Tuesday, January 13th. Finally, Evercore restated an "outperform" rating on shares of Stag Industrial in a report on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $39.50.

Stag Industrial Stock Performance

NYSE:STAG opened at $36.59 on Friday. The company has a market cap of $7.00 billion, a P/E ratio of 25.06 and a beta of 1.04. The firm's 50 day moving average is $38.21 and its two-hundred day moving average is $37.69. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $39.98. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.89.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $220.90 million during the quarter, compared to analysts' expectations of $213.66 million. Stag Industrial had a net margin of 32.35% and a return on equity of 7.68%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 EPS. Analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Stag Industrial's payout ratio is 102.05%.

Insiders Place Their Bets

In other news, Director Virgis Colbert sold 18,000 shares of Stag Industrial stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $38.08, for a total value of $685,440.00. Following the transaction, the director directly owned 4,210 shares of the company's stock, valued at $160,316.80. The trade was a 81.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William R. Crooker sold 93,732 shares of the business's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $39.17, for a total value of $3,671,482.44. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 136,974 shares of company stock worth $5,345,904 over the last three months. 1.10% of the stock is owned by 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.

Want to see what other hedge funds are holding STAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stag Industrial, Inc. (NYSE:STAG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.