Stag Industrial (NYSE:STAG) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Stag Industrial (NYSE:STAG) from a sell rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

A number of other analysts have also weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Stag Industrial in a report on Friday, July 31st. Raymond James Financial began coverage on Stag Industrial in a report on Wednesday, June 17th. They set an “outperform” rating and a $44.00 price objective on the stock. Wells Fargo & Company decreased their price objective on Stag Industrial from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Barclays lifted their target price on Stag Industrial from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Finally, Robert W. Baird upgraded Stag Industrial from a “neutral” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Monday, August 31st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.70.

Stag Industrial Stock Down 0.1%

Shares of NYSE:STAG opened at $37.68 on Friday. Stag Industrial has a 12 month low of $34.40 and a 12 month high of $42.61. The company’s 50-day moving average price is $38.44 and its two-hundred day moving average price is $38.24. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.93. The firm has a market cap of $7.27 billion, a P/E ratio of 28.98 and a beta of 0.95.

Stag Industrial (NYSE:STAG) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.37). Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. The company had revenue of $224.37 million during the quarter, compared to analyst estimates of $223.04 million. During the same quarter in the previous year, the business posted $0.63 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts forecast that Stag Industrial will post 2.63 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.3875 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.55 annualized dividend and a dividend yield of 4.1%. Stag Industrial’s payout ratio is currently 119.23%.

Hedge Funds Weigh In On Stag Industrial

Large investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust grew its holdings in Stag Industrial by 330.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,416 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 1,855 shares during the period. Amundi lifted its stake in shares of Stag Industrial by 7.1% in the 2nd quarter. Amundi now owns 113,512 shares of the real estate investment trust’s stock valued at $4,320,000 after purchasing an additional 7,572 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Stag Industrial in the 2nd quarter valued at $3,010,000. California State Teachers Retirement System boosted its position in shares of Stag Industrial by 3,696.2% in the 2nd quarter. California State Teachers Retirement System now owns 8,409,395 shares of the real estate investment trust’s stock worth $320,062,000 after purchasing an additional 8,187,875 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new stake in shares of Stag Industrial during the second quarter worth $2,602,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.