Voya Investment Management LLC Buys 18,943 Shares of Stag Industrial, Inc. $STAG

Key Points

• Voya Investment Management LLC increased its stake in Stag Industrial, Inc. by 29.1%, owning 84,117 shares worth approximately $3.04 million.
• Evercore ISI raised its price target on Stag Industrial from $40.00 to $41.00 and rated it as "outperform," while the average price target among analysts is $38.33.
• Stag Industrial declared a monthly dividend of $0.1242 per share, yielding around 4.3%, with a payout ratio of 117.32%.

Voya Investment Management LLC grew its stake in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 29.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,117 shares of the real estate investment trust's stock after purchasing an additional 18,943 shares during the period. Voya Investment Management LLC's holdings in Stag Industrial were worth $3,038,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of STAG. Versant Capital Management Inc boosted 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 acquiring an additional 506 shares in the last quarter. Tsfg LLC bought a new position in shares of Stag Industrial in the first quarter worth about $32,000. Garde Capital Inc. bought a new position in shares of Stag Industrial in the first quarter worth about $33,000. Avalon Trust Co bought a new stake in shares of Stag Industrial during the first quarter worth approximately $36,000. Finally, Keystone Global Partners LLC acquired a new position in Stag Industrial during the first quarter valued at approximately $41,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Stag Industrial Stock Performance

Shares of STAG traded up $0.24 during trading hours on Tuesday, hitting $35.13. The company had a trading volume of 491,795 shares, compared to its average volume of 1,463,453. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 27.66 and a beta of 0.94. The business has a fifty day moving average of $35.65 and a 200-day moving average of $35.13. Stag Industrial, Inc. has a 12 month low of $28.61 and a 12 month high of $39.80. 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 (NYSE:STAG - Get Free Report) last issued its quarterly earnings data 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 net margin of 29.14% and a return on equity of 6.71%. The company had revenue of $207.44 million for the quarter, compared to analyst estimates of $206.37 million. During the same period in the prior year, the firm earned $0.61 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. Equities analysts anticipate that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.1242 dividend. The ex-dividend date was Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 4.2%. Stag Industrial's dividend payout ratio is 117.32%.

Insider Activity at Stag Industrial

In related news, Director Benjamin S. Butcher sold 25,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $36.91, for a total value of $922,750.00. Following the transaction, the director directly owned 7,562 shares in the company, valued at approximately $279,113.42. This represents a 76.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, Evercore ISI boosted their price objective on shares of Stag Industrial from $40.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $38.33.

About Stag Industrial

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.