California Public Employees Retirement System decreased its position in Stag Industrial Inc (NYSE:STAG) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,214 shares of the real estate investment trust’s stock after selling 9,200 shares during the quarter. California Public Employees Retirement System owned approximately 0.11% of Stag Industrial worth $3,090,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Private Capital Group LLC increased its position in Stag Industrial by 242.9% during the fourth quarter. Private Capital Group LLC now owns 1,728 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 1,224 shares during the period. Athena Capital Advisors LLC bought a new position in Stag Industrial during the fourth quarter worth $50,000. Oppenheimer Asset Management Inc. bought a new position in Stag Industrial during the fourth quarter worth $55,000. Point72 Hong Kong Ltd increased its position in Stag Industrial by 161.6% during the third quarter. Point72 Hong Kong Ltd now owns 3,922 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 2,423 shares during the period. Finally, Loeb Partners Corp bought a new position in Stag Industrial during the fourth quarter worth $144,000. 84.99% of the stock is currently owned by institutional investors.
In other news, CFO William R. Crooker sold 31,208 shares of the business’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $24.35, for a total value of $759,914.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter S. Fearey sold 6,595 shares of the business’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $24.46, for a total transaction of $161,313.70. The disclosure for this sale can be found here. Insiders have sold 252,334 shares of company stock worth $6,138,541 in the last quarter. Corporate insiders own 1.70% of the company’s stock.
Stag Industrial (NYSE:STAG) last posted its quarterly earnings results on Wednesday, February 13th. The real estate investment trust reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. Stag Industrial had a net margin of 24.98% and a return on equity of 6.16%. The firm had revenue of $93.29 million for the quarter, compared to the consensus estimate of $91.61 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Stag Industrial Inc will post 1.85 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were paid a dividend of $0.1192 per share. The ex-dividend date was Wednesday, February 27th. This represents a $1.43 dividend on an annualized basis and a yield of 4.94%. Stag Industrial’s dividend payout ratio is currently 79.89%.
A number of equities analysts recently issued reports on STAG shares. TheStreet raised shares of Stag Industrial from a “c+” rating to a “b” rating in a research report on Thursday, February 21st. LADENBURG THALM/SH SH boosted their target price on shares of Stag Industrial from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. ValuEngine raised shares of Stag Industrial from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. DA Davidson dropped their target price on shares of Stag Industrial to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 1st. Finally, JMP Securities reaffirmed an “outperform” rating on shares of Stag Industrial in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Stag Industrial currently has an average rating of “Hold” and a consensus price target of $27.92.
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About Stag Industrial
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (?REIT?) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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