Stag Industrial, Inc. $STAG Shares Purchased by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its STAG Industrial holdings by 42.4% in the first quarter, adding 112,589 shares to own 378,187 shares valued at approximately $13.6 million. Institutional investors and hedge funds collectively own 88.67% of the REIT.
• STAG Industrial reported quarterly EPS of $0.28, missing the $0.65 consensus estimate, while revenue rose 8.1% year over year to $224.37 million. Shares opened at $37.28, up 1.3%.
• The company declared a quarterly dividend of $0.3875 per share, equivalent to an annualized $1.55 payout and a 4.2% yield. Analysts’ consensus rating is “Hold,” with an average price target of $50.50.

Royal Bank of Canada increased its holdings in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 42.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 378,187 shares of the real estate investment trust's stock after buying an additional 112,589 shares during the quarter. Royal Bank of Canada owned about 0.20% of Stag Industrial worth $13,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in STAG. NewEdge Advisors LLC increased its stake in shares of Stag Industrial by 17.6% during the 1st quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust's stock valued at $359,000 after acquiring an additional 1,491 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Stag Industrial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust's stock worth $60,391,000 after acquiring an additional 451,355 shares during the last quarter. Empowered Funds LLC purchased a new stake in Stag Industrial in the first quarter valued at approximately $229,000. EverSource Wealth Advisors LLC grew its holdings in Stag Industrial by 270.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 1,048 shares during the period. Finally, First Trust Advisors LP increased its position in Stag Industrial by 173.4% during the second quarter. First Trust Advisors LP now owns 177,756 shares of the real estate investment trust's stock worth $6,449,000 after purchasing an additional 112,747 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Stag Industrial Trading Up 1.3%

Shares of STAG stock opened at $37.28 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.93. Stag Industrial, Inc. has a fifty-two week low of $34.18 and a fifty-two week high of $42.61. The firm's 50 day moving average price is $38.80 and its two-hundred day moving average price is $38.36. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 28.68 and a beta of 0.96.

Stag Industrial (NYSE:STAG - Get Free Report) last released 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 business had revenue of $224.37 million during the quarter, compared to analyst estimates of $223.04 million. During the same period in the previous year, the company earned $0.63 EPS. Stag Industrial's revenue was up 8.1% on a year-over-year basis. On average, analysts anticipate 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 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 Wednesday, September 30th. Stag Industrial's dividend payout ratio is 119.23%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company cut their price target on shares of Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Monday, June 1st. Evercore restated an "outperform" rating and set a $44.00 price objective on shares of Stag Industrial in a report on Wednesday, April 29th. Wall Street Zen lowered Stag Industrial from a "hold" rating to a "sell" rating in a research report on Saturday. Raymond James Financial began coverage on Stag Industrial in a report on Wednesday, June 17th. They issued an "outperform" rating and a $44.00 target price on the stock. Finally, Barclays boosted their price target on Stag Industrial from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $50.50.

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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