Anchor Capital Advisors LLC increased its position in Stag Industrial Inc (NYSE:STAG) by 120.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,995 shares of the real estate investment trust’s stock after purchasing an additional 25,175 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Stag Industrial were worth $1,349,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in Stag Industrial by 224.5% in the 2nd quarter. Signaturefd LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 761 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Stag Industrial during the 1st quarter worth approximately $36,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Stag Industrial during the 2nd quarter worth approximately $42,000. Van ECK Associates Corp raised its stake in shares of Stag Industrial by 133.2% during the 1st quarter. Van ECK Associates Corp now owns 1,831 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,046 shares in the last quarter. Finally, Whittier Trust Co. raised 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 in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.
STAG stock opened at $32.63 on Friday. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $4.87 billion, a PE ratio of 44.70, a PEG ratio of 5.42 and a beta of 1.17. Stag Industrial Inc has a 1-year low of $17.54 and a 1-year high of $34.09. The business’s 50 day simple moving average is $31.41 and its 200 day simple moving average is $28.08.
Stag Industrial (NYSE:STAG) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.34). The business had revenue of $117.60 million for the quarter, compared to analyst estimates of $116.83 million. Stag Industrial had a return on equity of 4.97% and a net margin of 24.61%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, sell-side analysts predict that Stag Industrial Inc will post 1.86 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Tuesday, September 29th. Stag Industrial’s dividend payout ratio is 78.26%.
In other Stag Industrial news, CEO Benjamin S. Butcher sold 82,056 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $32.25, for a total value of $2,646,306.00. Following the transaction, the chief executive officer now directly 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 SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.
A number of brokerages have recently issued reports on STAG. TheStreet upgraded Stag Industrial from a “c+” rating to a “b-” rating in a research note on Tuesday, June 16th. Zacks Investment Research upgraded Stag Industrial from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Wednesday. Raymond James upped their price objective on Stag Industrial from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Wells Fargo & Co upped their price objective on Stag Industrial from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $34.00 price objective on shares of Stag Industrial in a research note on Tuesday, August 11th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $34.33.
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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