Pictet Asset Management Ltd. grew its holdings in Stag Industrial Inc (NYSE:STAG) by 44.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 17,000 shares of the real estate investment trust’s stock after buying an additional 5,200 shares during the period. Pictet Asset Management Ltd.’s holdings in Stag Industrial were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its position in Stag Industrial by 45.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,365 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 426 shares during the period. US Bancorp DE raised its position in shares of Stag Industrial by 1.6% during the 1st quarter. US Bancorp DE now owns 31,676 shares of the real estate investment trust’s stock valued at $940,000 after purchasing an additional 492 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Stag Industrial by 2.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,130 shares of the real estate investment trust’s stock valued at $834,000 after purchasing an additional 619 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Stag Industrial by 3.2% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,694 shares of the real estate investment trust’s stock valued at $614,000 after purchasing an additional 650 shares during the period. Finally, IFG Advisory LLC raised its position in shares of Stag Industrial by 6.6% during the 1st quarter. IFG Advisory LLC now owns 10,840 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 669 shares during the period. Institutional investors and hedge funds own 81.14% of the company’s stock.
Several analysts have recently commented on STAG shares. LADENBURG THALM/SH SH raised their price objective on shares of Stag Industrial from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. DA Davidson raised their price objective on shares of Stag Industrial to $32.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Berenberg Bank started coverage on shares of Stag Industrial in a research report on Tuesday, April 23rd. They set a “hold” rating and a $30.00 price objective on the stock. ValuEngine downgraded shares of Stag Industrial from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, TheStreet upgraded shares of Stag Industrial from a “c+” rating to a “b” rating in a research report on Thursday, February 21st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Stag Industrial currently has a consensus rating of “Hold” and a consensus target price of $29.25.
Stag Industrial (NYSE:STAG) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.39). The company had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $95.19 million. Stag Industrial had a net margin of 19.44% and a return on equity of 4.63%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. As a group, research analysts predict that Stag Industrial Inc will post 1.82 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.1192 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.43 annualized dividend and a yield of 4.63%. Stag Industrial’s payout ratio is 79.89%.
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Stag Industrial Profile
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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