Wedge Capital Management L L P NC Sells 19,039 Shares of Stag Industrial, Inc. $STAG

Wedge Capital Management L L P NC cut its position in Stag Industrial, Inc. (NYSE:STAG) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,756 shares of the real estate investment trust’s stock after selling 19,039 shares during the quarter. Wedge Capital Management L L P NC owned 0.11% of Stag Industrial worth $8,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in Stag Industrial by 22.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,583 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 285 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Stag Industrial by 1.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,515 shares of the real estate investment trust’s stock worth $1,122,000 after purchasing an additional 367 shares during the last quarter. First National Trust Co lifted its stake in Stag Industrial by 1.7% during the fourth quarter. First National Trust Co now owns 23,166 shares of the real estate investment trust’s stock worth $852,000 after purchasing an additional 388 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of Stag Industrial by 32.9% in the 4th quarter. Root Financial Partners LLC now owns 1,603 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 397 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Stag Industrial by 1.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 30,042 shares of the real estate investment trust’s stock valued at $1,083,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on STAG. Barclays lifted their price target on Stag Industrial from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Raymond James Financial started coverage on Stag Industrial in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 price objective on the stock. Wall Street Zen cut Stag Industrial from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Evercore reissued an “outperform” rating and set a $44.00 target price on shares of Stag Industrial in a research note on Wednesday, April 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Stag Industrial in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.50.

Stag Industrial Price Performance

Stag Industrial stock opened at $36.93 on Thursday. The stock has a 50-day moving average price of $38.82 and a two-hundred day moving average price of $38.36. Stag Industrial, Inc. has a 12 month low of $34.33 and a 12 month high of $42.61. The company has a market capitalization of $7.12 billion, a PE ratio of 28.41 and a beta of 0.96. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.93.

Stag Industrial (NYSE:STAG) last released its quarterly earnings results 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 return on equity of 6.79% and a net margin of 28.04%.The firm had revenue of $224.37 million for the quarter, compared to the consensus estimate of $223.04 million. During the same quarter last year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts expect that Stag Industrial, Inc. will post 2.63 EPS for the current year.

Stag Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, September 30th. Stag Industrial’s dividend payout ratio is 119.23%.

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.