Townsquare Capital LLC raised its holdings in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 126.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,652 shares of the real estate investment trust's stock after buying an additional 9,871 shares during the quarter. Townsquare Capital LLC's holdings in Stag Industrial were worth $638,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in Stag Industrial by 204.9% during the first quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 506 shares during the last quarter. Tsfg LLC bought a new stake in Stag Industrial during the first quarter valued at about $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, Harbour Investments Inc. boosted its stake in shares of Stag Industrial by 187.7% in the first quarter. Harbour Investments Inc. now owns 1,260 shares of the real estate investment trust's stock worth $46,000 after acquiring an additional 822 shares during the period. 88.67% of the stock is currently owned by institutional investors.
Stag Industrial Stock Performance
Shares of STAG stock traded down $0.2750 on Thursday, hitting $35.5750. The company had a trading volume of 918,082 shares, compared to its average volume of 1,451,228. The firm has a market cap of $6.64 billion, a P/E ratio of 28.01 and a beta of 0.91. The company has a 50-day moving average price of $35.70 and a 200-day moving average price of $35.02. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Stag Industrial, Inc. has a twelve month low of $28.61 and a twelve month high of $40.75.
Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. Stag Industrial had a return on equity of 6.71% and a net margin of 29.14%.The firm had revenue of $207.44 million during the quarter, compared to analyst estimates of $206.37 million. During the same quarter in the previous year, the business earned $0.61 EPS. Stag Industrial's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.
Stag Industrial Announces Dividend
The business also recently declared a dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a $0.1242 dividend. The ex-dividend date was Thursday, July 31st. This represents a dividend yield of 422.0%. Stag Industrial's dividend payout ratio is 117.32%.
Wall Street Analyst Weigh In
A number of research firms recently commented on STAG. Evercore ISI boosted their target price on Stag Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Robert W. Baird lowered their price objective on Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Raymond James Financial increased their price target on Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $38.00 price objective on shares of Stag Industrial in a report on Monday, May 19th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $38.17.
Check Out Our Latest Report on STAG
Insider Activity
In other news, Director Benjamin S. Butcher sold 28,843 shares of the company's 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 directly owned 7,115 shares in the company, valued at $262,543.50. This represents a 80.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by company insiders.
About Stag Industrial
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Free Report)
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.
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