Sei Investments Co. reduced its position in Stag Industrial, Inc. (NYSE:STAG) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,526 shares of the real estate investment trust’s stock after selling 6,564 shares during the period. Sei Investments Co. owned about 0.09% of Stag Industrial worth $2,222,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Stag Industrial by 1,758.0% in the first quarter. BlackRock Inc. now owns 8,449,687 shares of the real estate investment trust’s stock worth $211,412,000 after buying an additional 7,994,905 shares in the last quarter. Brookfield Asset Management Inc. acquired a new position in Stag Industrial during the first quarter worth approximately $62,369,000. Vanguard Group Inc. raised its position in Stag Industrial by 12.0% in the first quarter. Vanguard Group Inc. now owns 12,690,886 shares of the real estate investment trust’s stock worth $317,526,000 after buying an additional 1,364,728 shares in the last quarter. Bank of New York Mellon Corp raised its position in Stag Industrial by 36.1% in the first quarter. Bank of New York Mellon Corp now owns 4,303,925 shares of the real estate investment trust’s stock worth $107,683,000 after buying an additional 1,142,675 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Stag Industrial by 207.2% in the first quarter. Alliancebernstein L.P. now owns 1,010,205 shares of the real estate investment trust’s stock worth $25,275,000 after buying an additional 681,380 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors.
Stag Industrial, Inc. (NYSE STAG) opened at 27.92 on Friday. The stock’s 50 day moving average price is $27.41 and its 200 day moving average price is $26.37. Stag Industrial, Inc. has a 52 week low of $21.21 and a 52 week high of $28.75. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 104.18 and a beta of 1.22.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.41. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The firm had revenue of $72.20 million for the quarter, compared to analysts’ expectations of $71.44 million. During the same period last year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, equities research analysts predict that Stag Industrial, Inc. will post ($0.03) EPS for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.1175 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.05%. Stag Industrial’s dividend payout ratio (DPR) is currently 503.57%.
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Several equities analysts have recently issued reports on the company. BidaskClub lowered Stag Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Stag Industrial in a research note on Sunday, June 25th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Stag Industrial in a research note on Wednesday, May 3rd. Cantor Fitzgerald reaffirmed a “hold” rating and set a $25.00 price target on shares of Stag Industrial in a research note on Tuesday, May 2nd. Finally, Evercore ISI raised Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, August 14th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.31.
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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