Strs Ohio Boosts Holdings in Stag Industrial, Inc. $STAG

Key Points

• Strs Ohio sharply increased its stake in Stag Industrial during the first quarter, boosting holdings by 517.8% to 206,165 shares worth about $7.43 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors owning 88.67% of Stag Industrial’s stock. Several large firms, including State Street and Norges Bank, also recently added to or initiated positions.
• Stag Industrial beat quarterly earnings expectations, reporting $0.32 per share versus the $0.23 estimate, while revenue rose 9% year over year to $224.21 million. The company also announced a quarterly dividend of $0.3875 per share, implying a 4.0% annualized yield.

Strs Ohio raised its position in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 517.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 206,165 shares of the real estate investment trust's stock after buying an additional 172,794 shares during the quarter. Strs Ohio owned about 0.11% of Stag Industrial worth $7,434,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Stag Industrial by 1.5% in the second quarter. State Street Corp now owns 9,539,842 shares of the real estate investment trust's stock valued at $347,261,000 after acquiring an additional 142,132 shares in the last quarter. Norges Bank acquired a new stake in Stag Industrial in the fourth quarter valued at about $295,644,000. Alliancebernstein L.P. lifted its position in Stag Industrial by 4.3% in the second quarter. Alliancebernstein L.P. now owns 3,950,923 shares of the real estate investment trust's stock valued at $143,339,000 after purchasing an additional 162,887 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Stag Industrial by 10.7% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,911,540 shares of the real estate investment trust's stock valued at $138,038,000 after purchasing an additional 377,952 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Stag Industrial by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,830,915 shares of the real estate investment trust's stock valued at $140,851,000 after purchasing an additional 65,502 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on STAG shares. Raymond James Financial started coverage on Stag Industrial in a research note on Wednesday, June 17th. They set an "outperform" rating and a $44.00 target price for the company. Evercore restated an "outperform" rating and issued a $44.00 price target on shares of Stag Industrial in a research note on Wednesday, April 29th. Wells Fargo & Company cut their price objective on Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating for the company 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. Finally, Barclays lowered their price target on shares of Stag Industrial from $39.00 to $38.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $40.40.

Stag Industrial Price Performance

Shares of NYSE:STAG opened at $39.11 on Monday. The business's 50 day simple moving average is $38.27 and its 200-day simple moving average is $37.99. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 30.32 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 $39.99.

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 for the quarter, topping analysts' consensus estimates of $0.23 by $0.09. Stag Industrial had a return on equity of 6.80% and a net margin of 28.25%.The business had revenue of $224.21 million for the quarter, compared to analysts' expectations of $221.51 million. During the same quarter in the prior year, the firm posted $0.61 EPS. The company's revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts forecast that Stag Industrial, Inc. will post 2.64 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.3875 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.55 annualized dividend and a yield of 4.0%. Stag Industrial's dividend payout ratio is 120.16%.

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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