Wolverine Asset Management LLC Makes New $372,000 Investment in Stag Industrial, Inc. (NYSE:STAG)

Key Points

• Wolverine Asset Management LLC acquired a new position in Stag Industrial, purchasing 10,311 shares valued at approximately $372,000 in the first quarter.
• Stag Industrial reported earnings of $0.63 per share for the last quarter, matching analysts' expectations, with revenue of $207.44 million, reflecting a 9.4% year-over-year increase.
• The company recently announced a dividend of $0.1242 per share, yielding 422.0%, with an ex-dividend date set for July 31st.

Wolverine Asset Management LLC purchased a new stake in Stag Industrial, Inc. (NYSE:STAG - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,311 shares of the real estate investment trust's stock, valued at approximately $372,000.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings 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 acquired a new position in shares of Stag Industrial during the 1st quarter valued at $32,000. Garde Capital Inc. acquired a new position in shares of Stag Industrial during the 1st quarter valued at $33,000. Avalon Trust Co acquired a new position in shares of Stag Industrial during the 1st quarter valued at $36,000. Finally, Harbour Investments Inc. lifted its holdings in shares of Stag Industrial by 187.7% during the 1st quarter. Harbour Investments Inc. now owns 1,260 shares of the real estate investment trust's stock valued at $46,000 after acquiring an additional 822 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STAG. Raymond James Financial lifted their target price on shares of Stag Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $38.00 price objective on shares of Stag Industrial in a report on Monday, May 19th. Robert W. Baird cut their price objective on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Evercore ISI boosted their price objective on shares of Stag Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $38.17.

Insider Buying and Selling at Stag Industrial

In other news, Director Benjamin S. Butcher sold 28,843 shares of the business's stock in a transaction dated Friday, June 6th. The shares were 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 owned 7,115 shares of the company's stock, valued at approximately $262,543.50. The trade was a 80.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company's stock.

Stag Industrial Stock Down 0.2%

STAG stock traded down $0.08 during trading on Friday, reaching $34.73. The stock had a trading volume of 266,290 shares, compared to its average volume of 1,486,881. Stag Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $40.75. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $6.48 billion, a P/E ratio of 27.36 and a beta of 0.91. The firm has a fifty day moving average price of $35.84 and a 200 day moving average price of $34.98.

Stag Industrial (NYSE:STAG - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. The company had revenue of $207.44 million during the quarter, compared to the consensus estimate of $206.37 million. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 EPS. On average, equities analysts anticipate that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a $0.1242 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a dividend yield of 422.0%. Stag Industrial's payout ratio is presently 117.32%.

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.