Zacks Investment Research upgraded shares of Stag Industrial (NYSE:STAG) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.
According to Zacks, “STAG Industrial, Inc. operates as a real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States. STAG Industrial, Inc. is based in United States. “
A number of other brokerages have also weighed in on STAG. Ladenburg Thalmann Financial Services reiterated a buy rating on shares of Stag Industrial in a research note on Friday, November 3rd. JPMorgan Chase & Co. raised Stag Industrial from a neutral rating to an overweight rating and set a $30.00 target price on the stock in a report on Friday, December 15th. Cantor Fitzgerald set a $29.00 target price on Stag Industrial and gave the company a hold rating in a report on Thursday, February 15th. DA Davidson reissued a neutral rating on shares of Stag Industrial in a report on Friday, February 16th. Finally, BidaskClub raised Stag Industrial from a strong sell rating to a sell rating in a report on Saturday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $29.44.
Stag Industrial (NYSE:STAG) last issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.02 by $0.42. Stag Industrial had a return on equity of 2.92% and a net margin of 10.38%. The firm had revenue of $81.30 million during the quarter, compared to analysts’ expectations of $79.83 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. equities research analysts predict that Stag Industrial will post 1.82 EPS for the current year.
In other news, COO Stephen C. Mecke sold 30,000 shares of Stag Industrial stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $26.41, for a total value of $792,300.00. Following the completion of the transaction, the chief operating officer now directly owns 32,000 shares of the company’s stock, valued at approximately $845,120. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO William R. Crooker sold 31,889 shares of Stag Industrial stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $26.41, for a total value of $842,188.49. Following the completion of the transaction, the chief financial officer now directly owns 46,493 shares of the company’s stock, valued at $1,227,880.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,069 shares of company stock valued at $4,359,472. 2.00% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its stake in Stag Industrial by 28.5% during the 4th quarter. Alliancebernstein L.P. now owns 4,635,191 shares of the real estate investment trust’s stock valued at $126,680,000 after purchasing an additional 1,027,966 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Stag Industrial by 80.8% in the 4th quarter. Millennium Management LLC now owns 1,305,671 shares of the real estate investment trust’s stock worth $35,684,000 after buying an additional 583,560 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Stag Industrial by 4.0% in the 4th quarter. BlackRock Inc. now owns 8,387,711 shares of the real estate investment trust’s stock worth $229,236,000 after buying an additional 326,056 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Stag Industrial in the 3rd quarter worth approximately $6,822,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Stag Industrial by 4.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,171,435 shares of the real estate investment trust’s stock worth $142,059,000 after buying an additional 220,542 shares during the last quarter. 83.80% of the stock is owned by hedge funds and other institutional investors.
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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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