California Public Employees Retirement System lifted its holdings in STAG Industrial, Inc. (NYSE:STAG) by 2.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 340,806 shares of the real estate investment trust’s stock after purchasing an additional 8,286 shares during the period. California Public Employees Retirement System owned approximately 0.23% of STAG Industrial worth $10,391,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Private Advisor Group LLC acquired a new position in shares of STAG Industrial in the second quarter valued at approximately $29,000. FinTrust Capital Advisors LLC grew its holdings in shares of STAG Industrial by 359.8% in the second quarter. FinTrust Capital Advisors LLC now owns 1,053 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 824 shares in the last quarter. Signaturefd LLC grew its holdings in shares of STAG Industrial by 224.5% in the second quarter. Signaturefd LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 761 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of STAG Industrial in the first quarter valued at approximately $36,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in shares of STAG Industrial in the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.
STAG has been the subject of several analyst reports. Robert W. Baird cut shares of STAG Industrial from an “outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a report on Tuesday, September 22nd. Bank of America boosted their price target on shares of STAG Industrial from $28.00 to $30.00 and gave the stock an “underperform” rating in a report on Monday, November 16th. Royal Bank of Canada reiterated a “buy” rating and set a $36.00 price target on shares of STAG Industrial in a report on Tuesday, August 11th. Zacks Investment Research upgraded shares of STAG Industrial from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Saturday, October 3rd. Finally, Wells Fargo & Company boosted their price target on shares of STAG Industrial from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $34.10.
STAG Industrial (NYSE:STAG) last released its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.15 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.31). STAG Industrial had a net margin of 24.61% and a return on equity of 4.97%. The business had revenue of $117.30 million during the quarter, compared to analysts’ expectations of $117.10 million. During the same quarter last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts forecast that STAG Industrial, Inc. will post 1.86 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Wednesday, December 30th. STAG Industrial’s dividend payout ratio is currently 78.26%.
STAG Industrial Profile
STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.
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