Stag Industrial, Inc. $STAG Shares Sold by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio reduced its Stag Industrial stake by 13.4% in the first quarter, selling 42,753 shares and retaining 275,846 shares worth approximately $9.95 million. Institutional investors and hedge funds collectively own 88.67% of STAG.
• Analyst sentiment remains mixed, with an overall consensus rating of “Hold” and an average price target of $40.70. Recent targets range from $40 to $44, including an “underweight” rating from Barclays and “outperform” ratings from Evercore and Raymond James.
• STAG shares opened at $40.60, down 1.2%, while the company’s latest quarterly results exceeded expectations: EPS was $0.32 versus a $0.23 estimate, and revenue rose 9% year over year to $224.21 million.

Public Employees Retirement System of Ohio cut its position in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 13.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 275,846 shares of the real estate investment trust's stock after selling 42,753 shares during the period. Public Employees Retirement System of Ohio owned 0.14% of Stag Industrial worth $9,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new position in Stag Industrial in the third quarter valued at $27,000. Clearstead Advisors LLC lifted its holdings in Stag Industrial by 193.6% during the 4th quarter. Clearstead Advisors LLC now owns 731 shares of the real estate investment trust's stock worth $27,000 after buying an additional 482 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Stag Industrial during the 4th quarter worth about $51,000. EverSource Wealth Advisors LLC boosted its position in shares of Stag Industrial by 270.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 1,048 shares in the last quarter. Finally, Root Financial Partners LLC boosted its position in shares of Stag Industrial by 32.9% during the 4th quarter. Root Financial Partners LLC now owns 1,603 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 397 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STAG. Wells Fargo & Company cut their target price on Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Monday, June 1st. Weiss Ratings downgraded Stag Industrial from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 4th. Barclays raised their price objective on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Thursday, July 16th. Evercore restated an "outperform" rating and set a $44.00 price objective on shares of Stag Industrial in a research report on Wednesday, April 29th. Finally, Raymond James Financial initiated coverage on shares of Stag Industrial in a research report on Wednesday, June 17th. They set an "outperform" rating and a $44.00 price objective for the company. 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 company. Based on data from MarketBeat, Stag Industrial presently has an average rating of "Hold" and a consensus price target of $40.70.

Stag Industrial Stock Down 1.2%

Stag Industrial stock opened at $40.60 on Tuesday. Stag Industrial, Inc. has a fifty-two week low of $33.72 and a fifty-two week high of $42.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market capitalization of $7.76 billion, a P/E ratio of 31.48 and a beta of 0.97. The stock has a 50-day simple moving average of $38.79 and a 200-day simple moving average of $38.34.

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

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.

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.