Stag Industrial Inc (NYSE:STAG) – Research analysts at Jefferies Group dropped their FY2018 earnings per share estimates for shares of Stag Industrial in a research note issued on Tuesday. Jefferies Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings of $1.86 per share for the year, down from their previous estimate of $1.87. Jefferies Group has a “Buy” rating and a $32.00 price target on the stock.
Stag Industrial (NYSE:STAG) last announced its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. Stag Industrial had a net margin of 18.96% and a return on equity of 5.72%. The business had revenue of $78.14 million during the quarter, compared to analysts’ expectations of $76.17 million. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis.
Shares of Stag Industrial (NYSE STAG) traded down $0.59 during mid-day trading on Thursday, reaching $25.29. 749,300 shares of the company’s stock were exchanged, compared to its average volume of 690,200. Stag Industrial has a twelve month low of $22.70 and a twelve month high of $28.95. The stock has a market capitalization of $2,390.00, a PE ratio of 45.98, a P/E/G ratio of 2.74 and a beta of 1.26. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.62.
Several institutional investors have recently added to or reduced their stakes in the company. Moors & Cabot Inc. lifted its holdings in shares of Stag Industrial by 0.4% in the 2nd quarter. Moors & Cabot Inc. now owns 14,790 shares of the real estate investment trust’s stock worth $410,000 after acquiring an additional 62 shares during the last quarter. Advisor Group Inc. increased its stake in Stag Industrial by 1.8% in the 2nd quarter. Advisor Group Inc. now owns 33,751 shares of the real estate investment trust’s stock worth $932,000 after buying an additional 599 shares during the period. Phocas Financial Corp. increased its stake in Stag Industrial by 2.9% in the 2nd quarter. Phocas Financial Corp. now owns 23,609 shares of the real estate investment trust’s stock worth $652,000 after buying an additional 666 shares during the period. Ameritas Investment Partners Inc. increased its stake in Stag Industrial by 13.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,846 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 903 shares during the period. Finally, Amalgamated Bank increased its stake in Stag Industrial by 12.4% in the 2nd quarter. Amalgamated Bank now owns 11,114 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 1,222 shares during the period. Hedge funds and other institutional investors own 82.04% of the company’s stock.
In other Stag Industrial news, COO Stephen C. Mecke sold 30,000 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $26.41, for a total transaction of $792,300.00. Following the completion of the transaction, the chief operating officer now owns 32,000 shares in the company, valued at $845,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David G. King sold 35,000 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $26.41, for a total transaction of $924,350.00. Following the completion of the sale, the executive vice president now owns 35,364 shares of the company’s stock, valued at approximately $933,963.24. The disclosure for this sale can be found here. Insiders have sold 165,069 shares of company stock valued at $4,359,472 in the last quarter. 2.00% of the stock is owned by company insiders.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.1183 per share. The ex-dividend date is Tuesday, February 27th. This represents a $1.42 annualized dividend and a yield of 5.61%. Stag Industrial’s dividend payout ratio (DPR) is currently 256.36%.
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About Stag Industrial
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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