Earnest Partners LLC Lowers Position in Stag Industrial, Inc. $STAG

Earnest Partners LLC trimmed its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,646,902 shares of the real estate investment trust’s stock after selling 165,310 shares during the quarter. Earnest Partners LLC owned 1.95% of Stag Industrial worth $128,699,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in STAG. Channing Capital Management LLC raised its stake in shares of Stag Industrial by 8.3% during the 3rd quarter. Channing Capital Management LLC now owns 2,186,846 shares of the real estate investment trust’s stock worth $77,174,000 after buying an additional 167,093 shares in the last quarter. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Stag Industrial in the third quarter valued at approximately $1,127,000. Versor Investments LP acquired a new position in Stag Industrial during the third quarter worth $922,000. Wolverine Asset Management LLC grew its holdings in Stag Industrial by 408.0% during the third quarter. Wolverine Asset Management LLC now owns 129,263 shares of the real estate investment trust’s stock worth $4,562,000 after acquiring an additional 103,820 shares during the period. Finally, Elo Mutual Pension Insurance Co purchased a new position in Stag Industrial in the third quarter worth $1,897,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stag Industrial

In other Stag Industrial news, Director Virgis Colbert sold 18,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $38.08, for a total value of $685,440.00. Following the sale, the director 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matts Pinard sold 25,242 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $39.18, for a total transaction of $988,981.56. Following the completion of the sale, the executive vice president owned 951 shares in the company, valued at $37,260.18. This represents a 96.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 136,974 shares of company stock worth $5,345,904. 1.10% of the stock is owned by corporate insiders.

Stag Industrial Stock Performance

Shares of STAG stock opened at $38.02 on Friday. The stock has a fifty day moving average price of $38.18 and a 200 day moving average price of $37.67. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $7.26 billion, a PE ratio of 26.04 and a beta of 1.04. Stag Industrial, Inc. has a 1 year low of $28.61 and a 1 year high of $39.98.

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

Stag Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Stag Industrial’s dividend payout ratio is presently 102.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Robert W. Baird set a $40.00 target price on Stag Industrial in a report on Tuesday, February 17th. Wall Street Zen upgraded shares of Stag Industrial from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Stag Industrial from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Stag Industrial in a report on Monday, December 22nd. Finally, Barclays restated an “underweight” rating and set a $39.00 target price (down from $40.00) on shares of Stag Industrial in a research report on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $39.50.

About Stag Industrial

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.