A number of other equities analysts have also commented on STAG. RBC Capital Markets reiterated an outperform rating and issued a $26.00 price objective (up previously from $22.00) on shares of Stag Industrial in a report on Friday, August 5th. Royal Bank Of Canada boosted their price objective on shares of Stag Industrial from $22.00 to $26.00 and gave the stock an outperform rating in a report on Friday, August 5th. Cantor Fitzgerald set a $24.00 price objective on shares of Stag Industrial and gave the stock a hold rating in a report on Thursday. DA Davidson boosted their price objective on shares of Stag Industrial from $25.00 to $26.00 and gave the stock a buy rating in a report on Friday, August 5th. Finally, Robert W. Baird reiterated an outperform rating and issued a $26.00 price objective on shares of Stag Industrial in a report on Friday, August 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $24.05.
Shares of Stag Industrial (NYSE:STAG) traded up 0.6333% during midday trading on Friday, hitting $23.2966. 105,663 shares of the stock traded hands. Stag Industrial has a one year low of $14.97 and a one year high of $25.51. The firm has a 50-day moving average price of $23.89 and a 200 day moving average price of $22.80. The stock’s market cap is $1.66 billion.
Stag Industrial (NYSE:STAG) last posted its earnings results on Tuesday, August 2nd. The company reported $0.38 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. Stag Industrial had a negative net margin of 9.21% and a negative return on equity of 3.09%. The business had revenue of $60.24 million for the quarter, compared to analyst estimates of $54.24 million. During the same quarter in the previous year, the business posted $0.36 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. Analysts anticipate that Stag Industrial 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. Investors of record on Monday, October 31st will be given a dividend of $0.1158 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Thursday, October 27th. Stag Industrial’s dividend payout ratio is presently -272.55%.
In other Stag Industrial news, Director Larry T. Guillemette acquired 10,500 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was acquired at an average price of $24.91 per share, with a total value of $261,555.00. Following the transaction, the director now directly owns 11,882 shares in the company, valued at $295,980.62. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Benjamin S. Butcher acquired 2,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were acquired at an average cost of $23.81 per share, with a total value of $47,620.00. Following the transaction, the chief executive officer now owns 72,088 shares in the company, valued at $1,716,415.28. The disclosure for this purchase can be found here. Corporate insiders own 2.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its position in Stag Industrial by 47.5% in the second quarter. Advisory Services Network LLC now owns 6,294 shares of the company’s stock valued at $150,000 after buying an additional 2,027 shares during the period. BNP Paribas Arbitrage SA boosted its position in Stag Industrial by 110.0% in the third quarter. BNP Paribas Arbitrage SA now owns 6,445 shares of the company’s stock valued at $158,000 after buying an additional 3,376 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Stag Industrial during the second quarter valued at approximately $192,000. ProShare Advisors LLC purchased a new position in Stag Industrial during the second quarter valued at approximately $200,000. Finally, Spirit of America Management Corp NY purchased a new position in Stag Industrial during the second quarter valued at approximately $210,000. 76.99% of the stock is owned by institutional investors and hedge funds.
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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