The Manufacturers Life Insurance Company acquired a new position in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 134,179 shares of the real estate investment trust's stock, valued at approximately $5,107,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Stag Industrial at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Stag Industrial during the second quarter worth $1,097,126,000. Norges Bank acquired a new stake in shares of Stag Industrial in the fourth quarter valued at $295,644,000. Bank of New York Mellon Corp bought a new position in shares of Stag Industrial in the second quarter valued at about $58,805,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Stag Industrial by 434,005.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,098,286 shares of the real estate investment trust's stock valued at $40,373,000 after buying an additional 1,098,033 shares during the last quarter. Finally, Heitman Real Estate Securities LLC acquired a new position in Stag Industrial during the 4th quarter worth about $33,558,000. Institutional investors own 88.67% of the company's stock.
Stag Industrial Price Performance
Stag Industrial stock opened at $37.21 on Tuesday. The business's 50-day simple moving average is $38.55 and its 200 day simple moving average is $38.25. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 28.62 and a beta of 0.96. Stag Industrial, Inc. has a 12-month low of $34.40 and a 12-month high of $42.61. 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 (NYSE:STAG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share 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 firm had revenue of $224.37 million for the quarter, compared to the consensus estimate of $223.04 million. During the same period in the prior year, the firm posted $0.63 earnings per share. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts anticipate that Stag Industrial, Inc. will post 2.63 earnings per share for the current year.
Stag Industrial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.3875 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.55 annualized dividend and a dividend yield of 4.2%. Stag Industrial's payout ratio is currently 119.23%.
Analysts Set New Price Targets
STAG has been the topic of a number of research analyst reports. Robert W. Baird raised shares of Stag Industrial from a "neutral" rating to an "outperform" rating and set a $42.00 price objective on the stock in a report on Monday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stag Industrial in a research note on Friday, July 31st. Raymond James Financial started coverage on shares of Stag Industrial in a research report on Wednesday, June 17th. They set an "outperform" rating and a $44.00 target price on the stock. Wall Street Zen cut shares of Stag Industrial from a "hold" rating to a "sell" rating in a research note on Monday, August 24th. Finally, Wells Fargo & Company lowered their price target on shares of Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.90.
Check Out Our Latest Stock Analysis on Stag Industrial
Stag Industrial Company Profile
(
Free Report)
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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