Stag Industrial Inc (NYSE:STAG) – Analysts at Jefferies Group decreased their FY2018 earnings estimates for Stag Industrial in a research note issued on Tuesday. Jefferies Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings per share of $1.86 for the year, down from their prior forecast of $1.87. Jefferies Group has a “Buy” rating and a $32.00 price objective on the stock.
Several other research firms also recently commented on STAG. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Stag Industrial in a research report on Friday, November 3rd. BidaskClub upgraded shares of Stag Industrial from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 4th. TheStreet upgraded shares of Stag Industrial from a “c” rating to a “b-” rating in a research report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. upgraded shares of Stag Industrial from a “neutral” rating to an “overweight” rating and set a $30.00 target price on the stock in a research report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $28.50.
Stag Industrial (NYSE:STAG) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. Stag Industrial had a net margin of 18.96% and a return on equity of 5.72%. The business had revenue of $78.14 million for the quarter, compared to the consensus estimate of $76.17 million. During the same period last year, the company earned $0.40 EPS. The firm’s revenue was up 24.8% compared to the same quarter last year.
The company also recently declared a monthly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.1183 per share. The ex-dividend date is Tuesday, February 27th. This represents a $1.42 annualized dividend and a yield of 5.59%. Stag Industrial’s payout ratio is 256.36%.
In other Stag Industrial news, COO Stephen C. Mecke sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $26.41, for a total transaction of $792,300.00. Following the completion of the transaction, the chief operating officer now owns 32,000 shares in the company, valued at approximately $845,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William R. Crooker sold 31,889 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $26.41, for a total transaction of $842,188.49. Following the transaction, the chief financial officer now owns 46,493 shares of the company’s stock, valued at approximately $1,227,880.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,069 shares of company stock valued at $4,359,472. Company insiders own 2.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in STAG. Vanguard Group Inc. increased its stake in shares of Stag Industrial by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 13,381,991 shares of the real estate investment trust’s stock valued at $369,344,000 after acquiring an additional 691,105 shares in the last quarter. Citadel Advisors LLC increased its stake in shares of Stag Industrial by 515.0% in the 2nd quarter. Citadel Advisors LLC now owns 431,767 shares of the real estate investment trust’s stock valued at $11,917,000 after acquiring an additional 361,556 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Stag Industrial in the 3rd quarter valued at $6,822,000. Castle Ridge Investment Management LP increased its stake in shares of Stag Industrial by 119.3% in the 2nd quarter. Castle Ridge Investment Management LP now owns 439,703 shares of the real estate investment trust’s stock valued at $12,136,000 after acquiring an additional 239,236 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Stag Industrial by 48.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 716,778 shares of the real estate investment trust’s stock valued at $19,783,000 after acquiring an additional 234,876 shares in the last quarter. Institutional investors own 82.04% of the company’s stock.
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Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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