Fifth Third Bancorp lowered its stake in shares of Stag Industrial Inc (NYSE:STAG) by 24.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,611 shares of the real estate investment trust’s stock after selling 3,122 shares during the quarter. Fifth Third Bancorp’s holdings in Stag Industrial were worth $282,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Stag Industrial by 224.5% in the second quarter. Signaturefd LLC now owns 1,100 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 761 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Stag Industrial in the first quarter valued at $36,000. Van ECK Associates Corp raised its stake in shares of Stag Industrial by 133.2% in the first quarter. Van ECK Associates Corp now owns 1,831 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,046 shares during the period. Creative Financial Designs Inc. ADV bought a new stake in shares of Stag Industrial in the 2nd quarter worth about $42,000. Finally, Whittier Trust Co. boosted its stake in shares of Stag Industrial by 2,268.9% during the 1st quarter. Whittier Trust Co. now owns 2,819 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 2,700 shares during the period. 91.31% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on STAG shares. Wells Fargo & Co raised their price objective on shares of Stag Industrial from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Zacks Investment Research lowered Stag Industrial from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup upped their price objective on Stag Industrial from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Robert W. Baird reduced their target price on Stag Industrial from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $36.00 target price on shares of Stag Industrial in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $34.33.
In other Stag Industrial news, CEO Benjamin S. Butcher sold 82,056 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $32.25, for a total transaction of $2,646,306.00. Following the sale, the chief executive officer now owns 144,144 shares of the company’s stock, valued at approximately $4,648,644. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.
Shares of Stag Industrial stock opened at $32.69 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.84 and a quick ratio of 2.84. Stag Industrial Inc has a 1 year low of $17.54 and a 1 year high of $34.09. The firm’s 50-day moving average is $31.22 and its two-hundred day moving average is $28.08. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 44.78, a PEG ratio of 5.41 and a beta of 1.17.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.34). Stag Industrial had a return on equity of 4.97% and a net margin of 24.61%. The business had revenue of $117.60 million during the quarter, compared to analysts’ expectations of $116.83 million. During the same period in the previous year, the company posted $0.45 EPS. Stag Industrial’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities analysts expect that Stag Industrial Inc will post 1.85 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 4.41%. Stag Industrial’s dividend payout ratio is currently 78.26%.
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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