Stag Industrial (NYSE:STAG) Posts Earnings Results, Meets Expectations

Key Points

• Stag Industrial reported a quarterly earnings per share (EPS) of $0.63, exceeding the consensus estimate of $0.62.
• The company declared a dividend of $0.1242 per share, which will be paid on August 15th, representing a dividend yield of 4.22%.
• Raymond James Financial raised its target price for Stag Industrial shares from $36.00 to $38.00, maintaining an "outperform" rating.

Stag Industrial (NYSE:STAG - Get Free Report) released its earnings results on Tuesday. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63, Zacks reports. Stag Industrial had a return on equity of 7.04% and a net margin of 31.05%. During the same period in the prior year, the business posted $0.61 EPS. The business's revenue was up 9.4% compared to the same quarter last year.

Stag Industrial Trading Up 2.8%

Shares of STAG traded up $0.97 during trading on Tuesday, reaching $35.73. 1,643,111 shares of the company traded hands, compared to its average volume of 1,493,885. The stock has a 50-day simple moving average of $35.97 and a 200-day simple moving average of $34.93. The stock has a market cap of $6.67 billion, a PE ratio of 26.86 and a beta of 0.93. Stag Industrial has a twelve month low of $28.61 and a twelve month high of $41.63. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.86.

Stag Industrial Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.1242 per share. This represents a dividend yield of 4.22%. The ex-dividend date is Thursday, July 31st. Stag Industrial's dividend payout ratio is presently 112.03%.

Insider Buying and Selling at Stag Industrial

In other news, Director Benjamin S. Butcher sold 28,843 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $36.90, for a total transaction of $1,064,306.70. Following the completion of the transaction, the director directly owned 7,115 shares in the company, valued at $262,543.50. This trade represents a 80.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Stag Industrial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new stake in Stag Industrial in the first quarter valued at approximately $229,000. NewEdge Advisors LLC grew its position in Stag Industrial by 17.6% during the first quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust's stock worth $359,000 after buying an additional 1,491 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Stag Industrial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust's stock valued at $60,391,000 after buying an additional 451,355 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on STAG. Royal Bank Of Canada reaffirmed 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 dropped their target price on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Raymond James Financial upped their price target on shares of Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $39.71.

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.