JPMorgan Chase & Co. Purchases 170,639 Shares of Stag Industrial, Inc. $STAG

JPMorgan Chase & Co. lifted its holdings in Stag Industrial, Inc. (NYSE:STAG) by 12.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,495,511 shares of the real estate investment trust’s stock after acquiring an additional 170,639 shares during the quarter. JPMorgan Chase & Co. owned 0.80% of Stag Industrial worth $52,778,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. NewEdge Advisors LLC boosted its holdings in Stag Industrial by 17.6% during the 1st quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 1,491 shares during the period. Goldman Sachs Group Inc. increased its stake in Stag Industrial by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock worth $60,391,000 after purchasing an additional 451,355 shares during the period. Empowered Funds LLC bought a new stake in Stag Industrial in the first quarter valued at approximately $229,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Stag Industrial by 2.0% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 206,515 shares of the real estate investment trust’s stock valued at $7,492,000 after purchasing an additional 4,019 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Stag Industrial by 4.3% during the second quarter. Bessemer Group Inc. now owns 685,301 shares of the real estate investment trust’s stock valued at $24,862,000 after purchasing an additional 28,324 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Stag Industrial Trading Down 0.5%

NYSE STAG opened at $38.57 on Thursday. The firm has a market capitalization of $7.37 billion, a PE ratio of 26.42 and a beta of 1.06. The stock’s 50 day moving average is $37.78 and its 200 day moving average is $37.39. Stag Industrial, Inc. has a twelve month low of $28.61 and a twelve month high of $39.98. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.89.

Stag Industrial (NYSE:STAG) last released its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $220.90 million for the quarter, compared to the consensus estimate of $213.66 million. Stag Industrial had a return on equity of 7.68% and a net margin of 32.35%.The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. Research analysts forecast that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, March 31st. Stag Industrial’s dividend payout ratio is 102.05%.

Insider Transactions at Stag Industrial

In other news, Director Virgis Colbert sold 18,000 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $38.08, for a total value of $685,440.00. Following the completion of the sale, the director directly owned 4,210 shares of the company’s stock, valued at $160,316.80. This represents a 81.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Crooker sold 93,732 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $39.17, for a total transaction of $3,671,482.44. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 136,974 shares of company stock worth $5,345,904 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays reissued an “underweight” rating and set a $39.00 price target (down from $40.00) on shares of Stag Industrial in a research report on Tuesday, January 13th. Citigroup increased their target price on shares of Stag Industrial from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. boosted their price target on Stag Industrial from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Royal Bank Of Canada upped their price target on Stag Industrial from $38.00 to $42.00 and gave the company a “sector perform” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen upgraded Stag Industrial from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Stag Industrial presently has a consensus rating of “Hold” and a consensus target price of $39.50.

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.