Norges Bank Invests $295.64 Million in Stag Industrial, Inc. $STAG

Norges Bank acquired a new position in Stag Industrial, Inc. (NYSE:STAG) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,042,542 shares of the real estate investment trust’s stock, valued at approximately $295,644,000.

A number of other hedge funds have also recently made changes to their positions in the business. Balyasny Asset Management L.P. lifted its position in shares of Stag Industrial by 1,818.4% in the third quarter. Balyasny Asset Management L.P. now owns 570,931 shares of the real estate investment trust’s stock worth $20,148,000 after buying an additional 541,170 shares in the last quarter. Goldman Sachs Group Inc. lifted 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 worth $60,391,000 after buying an additional 451,355 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Stag Industrial by 10.7% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,911,540 shares of the real estate investment trust’s stock worth $138,038,000 after buying an additional 377,952 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Stag Industrial in the third quarter worth about $11,422,000. Finally, Bayhunt Capital LLC purchased a new stake in shares of Stag Industrial in the fourth quarter worth about $10,323,000. Institutional investors own 88.67% of the company’s stock.

Stag Industrial Trading Down 0.5%

Shares of STAG stock opened at $36.56 on Wednesday. Stag Industrial, Inc. has a 1 year low of $33.72 and a 1 year high of $39.99. 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’s 50 day simple moving average is $37.94 and its two-hundred day simple moving average is $38.08. The company has a market cap of $6.99 billion, a PE ratio of 28.34 and a beta of 0.98.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. Stag Industrial had a return on equity of 6.80% and a net margin of 28.25%.The business had revenue of $224.21 million for the quarter, compared to the consensus estimate of $221.52 million. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Research analysts predict that Stag Industrial, Inc. will post 2.63 earnings per share for the current year.

Stag Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.3875 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.55 dividend on an annualized basis and a yield of 4.2%. Stag Industrial’s dividend payout ratio is 120.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on STAG shares. Robert W. Baird set a $40.00 target price on Stag Industrial in a research report on Tuesday, February 17th. Barclays decreased their target price on Stag Industrial from $39.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 5th. Evercore reiterated an “outperform” rating and issued a $44.00 target price on shares of Stag Industrial in a research report on Wednesday, April 29th. Weiss Ratings downgraded Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. boosted their target price on Stag Industrial from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Stag Industrial currently has a consensus rating of “Hold” and a consensus target price of $40.00.

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.