Stag Industrial (NYSE:STAG) Hits New 1-Year High - What's Next?

Key Points

• Stag Industrial shares hit a new 52-week high, trading as high as $40.23 before closing near $39.99. The move came on modest volume and reflected continued upward momentum in the stock.
• Recent analyst action has been mixed, but the stock’s overall consensus remains Hold with an average price target of $40.40. Evercore and Raymond James are bullish at $44 targets, while Wells Fargo and Barclays trimmed their targets and kept more cautious ratings.
• The company recently posted better-than-expected quarterly earnings, with EPS of $0.32 versus $0.23 expected and revenue up 9% year over year. Stag also announced a quarterly dividend of $0.3875 per share, yielding about 3.9% annualized.

Stag Industrial, Inc. (NYSE:STAG - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $40.23 and last traded at $39.99, with a volume of 213330 shares trading hands. The stock had previously closed at $39.34.

Analysts Set New Price Targets

STAG has been the topic of several recent research reports. Evercore reaffirmed an "outperform" rating and issued a $44.00 price target on shares of Stag Industrial in a research note on Wednesday, April 29th. Wells Fargo & Company lowered their price objective on Stag Industrial from $41.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, June 1st. Barclays dropped their target price on shares of Stag Industrial from $39.00 to $38.00 and set an "underweight" rating on the stock in a report on Tuesday, May 5th. Raymond James Financial started coverage on shares of Stag Industrial in a research note on Wednesday, June 17th. They issued an "outperform" rating and a $44.00 price target for the company. Finally, Weiss Ratings lowered shares of Stag Industrial from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $40.40.

Stag Industrial Stock Up 1.0%

The company has a debt-to-equity ratio of 0.87, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a 50 day simple moving average of $38.29 and a 200-day simple moving average of $38.08. The firm has a market cap of $7.60 billion, a PE ratio of 30.79 and a beta of 0.97.

Stag Industrial (NYSE:STAG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. The firm had revenue of $224.21 million during the quarter, compared to the consensus estimate of $221.51 million. Stag Industrial had a return on equity of 6.80% and a net margin of 28.25%.The company's revenue was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. Sell-side analysts predict that Stag Industrial, Inc. will post 2.64 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.3875 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.55 annualized dividend and a yield of 3.9%. Stag Industrial's payout ratio is 120.16%.

Institutional Investors Weigh In On Stag Industrial

A number of institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL bought a new position in shares of Stag Industrial in the third quarter worth about $11,422,000. Exchange Traded Concepts LLC lifted its position in shares of Stag Industrial by 98.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 90,618 shares of the real estate investment trust's stock valued at $3,331,000 after acquiring an additional 44,921 shares in the last quarter. Pacific Heights Asset Management LLC lifted its position in shares of Stag Industrial by 25.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the real estate investment trust's stock valued at $18,380,000 after acquiring an additional 100,000 shares in the last quarter. Bayhunt Capital LLC bought a new position in Stag Industrial in the 4th quarter worth approximately $10,323,000. Finally, SG Americas Securities LLC boosted its position in shares of Stag Industrial by 269.3% during the fourth quarter. SG Americas Securities LLC now owns 155,724 shares of the real estate investment trust's stock worth $5,724,000 after acquiring an additional 113,557 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Stag Industrial Company Profile

Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company's portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.

Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.

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