MetLife Investment Management LLC Purchases 327,526 Shares of Stag Industrial, Inc. $STAG

Key Points

• MetLife Investment Management LLC significantly increased its stake in Stag Industrial, raising its position by 303.1% in the first quarter, now owning 435,568 shares valued at approximately $15.73 million.
• Stag Industrial announced a quarterly dividend of $0.1242, with a yield of 429.0%, set to be paid on September 15th, while the company's current payout ratio stands at 117.32%.
• Stag Industrial's most recent quarterly earnings met analyst expectations with an EPS of $0.63, and reported a 9.4% year-over-year revenue increase, totaling approximately $207.44 million.

MetLife Investment Management LLC lifted its position in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 303.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 435,568 shares of the real estate investment trust's stock after purchasing an additional 327,526 shares during the quarter. MetLife Investment Management LLC owned 0.23% of Stag Industrial worth $15,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Stag Industrial by 152.1% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,938,350 shares of the real estate investment trust's stock worth $70,013,000 after purchasing an additional 1,169,533 shares in the last quarter. Aew Capital Management L P boosted its holdings in shares of Stag Industrial by 12.5% in the 1st quarter. Aew Capital Management L P now owns 3,600 shares of the real estate investment trust's stock worth $130,000 after purchasing an additional 400 shares in the last quarter. Allstate Corp purchased a new position in shares of Stag Industrial in the 1st quarter worth about $1,515,000. Norinchukin Bank The boosted its holdings in shares of Stag Industrial by 7.2% in the 1st quarter. Norinchukin Bank The now owns 8,621 shares of the real estate investment trust's stock worth $311,000 after purchasing an additional 576 shares in the last quarter. Finally, CW Advisors LLC boosted its holdings in shares of Stag Industrial by 63.8% in the 1st quarter. CW Advisors LLC now owns 15,135 shares of the real estate investment trust's stock worth $547,000 after purchasing an additional 5,895 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stag Industrial news, Director Benjamin S. Butcher sold 28,843 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $36.90, for a total value of $1,064,306.70. Following the completion of the sale, the director owned 7,115 shares in the company, valued at approximately $262,543.50. This trade represents a 80.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on STAG. Raymond James Financial increased their target price on Stag Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Evercore ISI increased their target price on Stag Industrial from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Royal Bank Of Canada restated a "sector perform" rating and set a $38.00 target price on shares of Stag Industrial in a report on Monday, May 19th. Finally, Robert W. Baird dropped their target price on Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $38.17.

Stag Industrial Trading Up 0.4%

NYSE STAG traded up $0.13 on Friday, hitting $36.89. The company's stock had a trading volume of 1,069,479 shares, compared to its average volume of 1,259,448. Stag Industrial, Inc. has a 52-week low of $28.61 and a 52-week high of $40.62. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86. The company's 50-day simple moving average is $35.75 and its 200 day simple moving average is $35.10. The firm has a market cap of $6.89 billion, a P/E ratio of 29.05 and a beta of 0.91.

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

Stag Industrial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.1242 dividend. The ex-dividend date is Friday, August 29th. This represents a c) annualized dividend and a yield of 4.0%. Stag Industrial's dividend payout ratio (DPR) is 117.32%.

About Stag Industrial

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.