Stag Industrial, Inc. $STAG Shares Bought by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its stake in Stag Industrial by 6.2% in the first quarter, buying 24,740 additional shares and bringing its holding to 426,483 shares worth about $15.4 million.
• Stag Industrial’s stock was down 2.0% and opened at $40.48, while the company continues to show solid fundamentals including a $7.74 billion market cap and a 3.8% dividend yield.
• The REIT recently beat earnings expectations, reporting $0.32 EPS versus the $0.23 consensus and revenue of $224.21 million, though analysts currently rate the stock a Hold with an average target price of $40.70.

Principal Financial Group Inc. raised its stake in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 6.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 426,483 shares of the real estate investment trust's stock after purchasing an additional 24,740 shares during the period. Principal Financial Group Inc. owned 0.22% of Stag Industrial worth $15,379,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of STAG. Norges Bank acquired a new position in Stag Industrial in the fourth quarter worth about $295,644,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Stag Industrial by 434,005.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,098,286 shares of the real estate investment trust's stock valued at $40,373,000 after buying an additional 1,098,033 shares in the last quarter. Heitman Real Estate Securities LLC acquired a new stake in Stag Industrial during the fourth quarter valued at approximately $33,558,000. Mackenzie Financial Corp bought a new position in Stag Industrial during the 4th quarter worth approximately $25,459,000. Finally, Balyasny Asset Management L.P. lifted its holdings in Stag Industrial by 1,818.4% during the 3rd quarter. Balyasny Asset Management L.P. now owns 570,931 shares of the real estate investment trust's stock worth $20,148,000 after buying an additional 541,170 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Stag Industrial Trading Down 2.0%

Stag Industrial stock opened at $40.48 on Friday. The stock has a market capitalization of $7.74 billion, a PE ratio of 31.38 and a beta of 0.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.57 and a quick ratio of 1.57. Stag Industrial, Inc. has a 12-month low of $33.72 and a 12-month high of $42.61. The firm has a 50 day simple moving average of $38.67 and a 200-day simple moving average of $38.28.

Stag Industrial (NYSE:STAG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. Stag Industrial had a return on equity of 6.80% and a net margin of 28.25%.The company had revenue of $224.21 million for the quarter, compared to analysts' expectations of $221.51 million. During the same period last year, the firm earned $0.61 EPS. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts expect that Stag Industrial, Inc. will post 2.64 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Stag Industrial's payout ratio is presently 120.16%.

Wall Street Analysts Forecast Growth

STAG has been the subject of a number of research analyst reports. Raymond James Financial started coverage on Stag Industrial in a report on Wednesday, June 17th. They issued an "outperform" rating and a $44.00 price target for the company. Weiss Ratings cut Stag Industrial from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Evercore reiterated an "outperform" rating and set a $44.00 target price on shares of Stag Industrial in a research note on Wednesday, April 29th. Wells Fargo & Company dropped their target price on shares of Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating on the stock in a report on Monday, June 1st. Finally, Barclays boosted their price objective on shares of Stag Industrial from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Thursday, July 16th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $40.70.

About Stag Industrial

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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