VIRGINIA RETIREMENT SYSTEMS ET Al Invests $10.64 Million in Stag Industrial, Inc. $STAG

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al invested $10.64 million in Stag Industrial, acquiring 293,192 shares, representing a 0.16% ownership of the company.
• Stag Industrial reported earnings of $0.63 per share, meeting analysts' expectations, and showed a year-over-year revenue increase of 9.4%.
• The company declared a monthly dividend of $0.1242 per share, with an expected annual yield of 3.8% and a payout ratio of 117.32%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 293,192 shares of the real estate investment trust's stock, valued at approximately $10,637,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.16% of Stag Industrial at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas boosted its holdings in shares of Stag Industrial by 55.3% during the first quarter. Teacher Retirement System of Texas now owns 39,735 shares of the real estate investment trust's stock worth $1,435,000 after purchasing an additional 14,155 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Stag Industrial by 2.7% during the first quarter. Principal Financial Group Inc. now owns 429,045 shares of the real estate investment trust's stock worth $15,497,000 after purchasing an additional 11,408 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Stag Industrial by 4.7% during the first quarter. Janney Montgomery Scott LLC now owns 12,711 shares of the real estate investment trust's stock worth $459,000 after purchasing an additional 571 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Stag Industrial by 8.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,255 shares of the real estate investment trust's stock worth $587,000 after purchasing an additional 1,295 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in shares of Stag Industrial during the second quarter worth about $268,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stag Industrial news, Director Larry T. Guillemette sold 2,004 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $35.20, for a total transaction of $70,540.80. Following the completion of the transaction, the director owned 38,666 shares of the company's stock, valued at approximately $1,361,043.20. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin S. Butcher sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $36.91, for a total transaction of $922,750.00. Following the transaction, the director directly owned 7,562 shares of the company's stock, valued at $279,113.42. This represents a 76.78% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Stag Industrial Price Performance

Shares of NYSE STAG opened at $38.84 on Tuesday. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.88. The company has a 50 day simple moving average of $36.04 and a two-hundred day simple moving average of $35.25. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 30.58 and a beta of 0.92. 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 announced 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. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The business had revenue of $207.44 million during the quarter, compared to the consensus estimate of $206.37 million. During the same quarter last year, the firm earned $0.61 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.1242 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. Stag Industrial's dividend payout ratio (DPR) is currently 117.32%.

Wall Street Analysts Forecast Growth

STAG has been the subject of a number of research reports. Industrial Alliance Securities set a $37.00 price target on shares of Stag Industrial in a research note on Wednesday, October 1st. Weiss Ratings reissued a "hold (c+)" rating on shares of Stag Industrial in a research note on Wednesday, October 8th. Evercore ISI increased their price target on shares of Stag Industrial from $40.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday, September 15th. Finally, Cantor Fitzgerald initiated coverage on shares of Stag Industrial in a research note on Wednesday, October 1st. They issued a "neutral" rating and a $37.00 price target for the company. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $38.00.

Stag Industrial Company 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.

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