MetLife Investment Management LLC Buys 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 boosted its position in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 303.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 435,568 shares of the real estate investment trust's stock after acquiring an additional 327,526 shares during the period. 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 have also modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Stag Industrial by 204.9% during the 1st quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 506 shares during the period. Tsfg LLC purchased a new stake in Stag Industrial in the 1st quarter worth $32,000. Garde Capital Inc. bought a new stake in Stag Industrial during the first quarter valued at about $33,000. Avalon Trust Co bought a new stake in Stag Industrial during the first quarter valued at about $36,000. Finally, Keystone Global Partners LLC purchased a new position in shares of Stag Industrial in the first quarter valued at about $41,000. 88.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $38.00 target price on shares of Stag Industrial in a research report on Monday, May 19th. Raymond James Financial upped their price target on Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Evercore ISI lifted their price objective on shares of Stag Industrial from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird lowered their target price on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Stag Industrial presently has a consensus rating of "Hold" and an average target price of $38.17.

Insider Activity

In related news, Director Benjamin S. Butcher sold 28,843 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $36.90, for a total value of $1,064,306.70. Following the completion of the transaction, the director owned 7,115 shares of the company's stock, valued at approximately $262,543.50. This trade represents a 80.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Stag Industrial Price Performance

NYSE:STAG traded down $0.22 during trading hours on Thursday, reaching $36.76. The stock had a trading volume of 884,342 shares, compared to its average volume of 1,477,812. The stock has a market capitalization of $6.86 billion, a PE ratio of 28.94 and a beta of 0.91. Stag Industrial, Inc. has a 52 week low of $28.61 and a 52 week high of $40.62. The company has a 50 day moving average price of $35.73 and a two-hundred day moving average price of $35.07. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 1.31.

Stag Industrial (NYSE:STAG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share for the quarter, meeting analysts' consensus estimates of $0.63. The firm had revenue of $207.44 million during the quarter, compared to analyst estimates of $206.37 million. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. Stag Industrial's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. As a group, sell-side analysts anticipate that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, September 15th. Stockholders 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) dividend on an annualized basis and a dividend yield of 4.1%. Stag Industrial's payout ratio is 117.32%.

Stag Industrial Profile

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.