Russell Investments Group Ltd. lowered its holdings in Stag Industrial, Inc. (NYSE:STAG) by 23.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,213 shares of the real estate investment trust’s stock after selling 14,765 shares during the period. Russell Investments Group Ltd. owned 0.05% of Stag Industrial worth $1,330,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Creative Planning grew its position in Stag Industrial by 140.4% during the second quarter. Creative Planning now owns 4,341 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 2,535 shares during the period. Daiwa Securities Group Inc. grew its position in Stag Industrial by 45.5% during the first quarter. Daiwa Securities Group Inc. now owns 6,400 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 2,000 shares during the period. SG Americas Securities LLC grew its position in Stag Industrial by 3.4% during the first quarter. SG Americas Securities LLC now owns 6,587 shares of the real estate investment trust’s stock valued at $165,000 after acquiring an additional 215 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Stag Industrial during the first quarter valued at about $174,000. Finally, Jane Street Group LLC purchased a new stake in Stag Industrial during the first quarter valued at about $205,000. 81.25% of the stock is owned by institutional investors and hedge funds.
Stag Industrial, Inc. (NYSE:STAG) remained flat at $28.14 on Friday. The stock had a trading volume of 1,060,924 shares. Stag Industrial, Inc. has a 12-month low of $21.21 and a 12-month high of $28.95. The stock has a 50-day moving average of $27.69 and a 200 day moving average of $26.77. The stock has a market cap of $2.60 billion, a PE ratio of 105.00 and a beta of 1.21.
Stag Industrial (NYSE:STAG) last issued its earnings results 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 net margin of 12.22% and a return on equity of 3.97%. The company had revenue of $72.20 million for the quarter, compared to analysts’ expectations of $71.44 million. During the same period in the prior year, the firm earned $0.38 EPS. Stag Industrial’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, equities analysts predict that Stag Industrial, Inc. will post ($0.01) EPS for the current year.
The business also recently declared a monthly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.1175 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.41 dividend on an annualized basis and a yield of 5.01%. Stag Industrial’s dividend payout ratio (DPR) is currently 503.57%.
A number of research firms have issued reports on STAG. Jefferies Group LLC reissued a “buy” rating and set a $32.00 price target (up previously from $31.00) on shares of Stag Industrial in a research report on Tuesday, August 22nd. Evercore ISI raised Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 target price for the company in a research report on Monday, August 14th. BidaskClub downgraded Stag Industrial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Raymond James Financial, Inc. upped their target price on Stag Industrial from $27.50 to $28.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Stag Industrial in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $27.56.
In related news, EVP Peter S. Fearey sold 1,033 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $28.71, for a total value of $29,657.43. Following the transaction, the executive vice president now owns 2,506 shares in the company, valued at approximately $71,947.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.
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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