Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Stag Industrial Inc. (NYSE:STAG) during the second quarter, Holdings Channel reports. The firm bought 8,052 shares of the company’s stock, valued at approximately $192,000.
A number of other institutional investors also recently added to or reduced their stakes in STAG. Goldman Sachs Group Inc. raised its stake in Stag Industrial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,403,671 shares of the company’s stock worth $48,939,000 after buying an additional 648,663 shares in the last quarter. Norges Bank acquired a new stake in Stag Industrial during the fourth quarter worth approximately $11,652,000. Kennedy Capital Management Inc. raised its stake in Stag Industrial by 49.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,540,370 shares of the company’s stock worth $31,362,000 after buying an additional 507,814 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Stag Industrial by 7.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,435,246 shares of the company’s stock worth $49,582,000 after buying an additional 158,650 shares in the last quarter. Finally, GW&K Investment Management LLC raised its stake in Stag Industrial by 7.3% in the second quarter. GW&K Investment Management LLC now owns 2,012,957 shares of the company’s stock worth $47,929,000 after buying an additional 136,708 shares in the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.
Stag Industrial Inc. (NYSE:STAG) traded down 1.84% during mid-day trading on Monday, hitting $24.06. The stock had a trading volume of 436,778 shares. The firm’s 50-day moving average price is $24.35 and its 200-day moving average price is $22.66. Stag Industrial Inc. has a 1-year low of $14.97 and a 1-year high of $25.51. The stock’s market cap is $1.72 billion.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The company had revenue of $60.24 million for the quarter, compared to the consensus estimate of $54.24 million. Stag Industrial had a negative return on equity of 3.09% and a negative net margin of 9.21%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. On average, equities analysts expect that Stag Industrial Inc. will post $1.56 earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be paid a $0.1158 dividend. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date is Thursday, October 27th. Stag Industrial’s dividend payout ratio is -272.55%.
A number of research firms have recently commented on STAG. RBC Capital Markets reaffirmed an “outperform” rating and set a $26.00 price target (up previously from $22.00) on shares of Stag Industrial in a research report on Friday, August 5th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $23.50 price target on shares of Stag Industrial in a research report on Monday, August 22nd. Royal Bank Of Canada increased their price objective on Stag Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Capital One Financial Corp. downgraded Stag Industrial from an “overweight” rating to an “equal weight” rating and set a $21.00 price objective for the company. in a report on Monday, July 18th. Finally, Jefferies Group reiterated a “hold” rating and set a $22.00 price objective on shares of Stag Industrial in a report on Wednesday, July 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.00.
In other Stag Industrial news, CEO Benjamin S. Butcher acquired 2,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were bought at an average cost of $23.81 per share, with a total value of $47,620.00. Following the purchase, the chief executive officer now directly owns 72,088 shares of the company’s stock, valued at $1,716,415.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry T. Guillemette acquired 10,500 shares of the company’s stock in a transaction dated Monday, September 26th. The stock was acquired at an average cost of $24.91 per share, for a total transaction of $261,555.00. Following the completion of the purchase, the director now directly owns 11,882 shares in the company, valued at $295,980.62. The disclosure for this purchase can be found here. 2.10% of the stock is owned by insiders.
About Stag Industrial
STAG Industrial, Inc is a real estate investment trust. The Company focuses on the acquisition and operation of single-tenant industrial properties across the United States. The Company owns approximately 290 buildings in over 40 states with approximately 54.7 million rentable square feet, consisting of over 220 warehouse/distribution buildings, approximately 50 light manufacturing buildings and over 20 flex/office buildings.
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