Dana Investment Advisors Inc. bought a new position in shares of Stag Industrial Inc (NYSE:STAG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 80,765 shares of the real estate investment trust’s stock, valued at approximately $2,219,000. Dana Investment Advisors Inc. owned 0.09% of Stag Industrial as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Stag Industrial by 5.4% during the second quarter. Vanguard Group Inc. now owns 13,381,991 shares of the real estate investment trust’s stock worth $369,344,000 after purchasing an additional 691,105 shares during the period. Bank of New York Mellon Corp boosted its position in Stag Industrial by 4.5% during the third quarter. Bank of New York Mellon Corp now owns 5,171,435 shares of the real estate investment trust’s stock worth $142,059,000 after purchasing an additional 220,542 shares during the period. Brookfield Asset Management Inc. boosted its position in Stag Industrial by 7.3% during the second quarter. Brookfield Asset Management Inc. now owns 2,674,778 shares of the real estate investment trust’s stock worth $73,824,000 after purchasing an additional 181,999 shares during the period. Wedge Capital Management L L P NC boosted its position in Stag Industrial by 2.7% during the third quarter. Wedge Capital Management L L P NC now owns 2,169,600 shares of the real estate investment trust’s stock worth $59,599,000 after purchasing an additional 57,601 shares during the period. Finally, State Street Corp boosted its position in Stag Industrial by 11.9% during the second quarter. State Street Corp now owns 1,895,836 shares of the real estate investment trust’s stock worth $52,324,000 after purchasing an additional 200,955 shares during the period. Hedge funds and other institutional investors own 82.08% of the company’s stock.
A number of equities analysts have weighed in on the stock. Jefferies Group reiterated a “buy” rating and set a $32.00 target price (up previously from $31.00) on shares of Stag Industrial in a research report on Tuesday, August 22nd. J P Morgan Chase & Co upgraded shares of Stag Industrial from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Friday. TheStreet upgraded shares of Stag Industrial from a “c” rating to a “b-” rating in a research report on Tuesday, November 14th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Stag Industrial in a research report on Friday, November 3rd. Finally, BidaskClub upgraded shares of Stag Industrial from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Stag Industrial currently has a consensus rating of “Buy” and a consensus price target of $28.50.
Stag Industrial Inc (NYSE STAG) traded down $0.03 during mid-day trading on Friday, hitting $27.99. 389,900 shares of the stock were exchanged, compared to its average volume of 687,249. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.09 and a quick ratio of 0.09. Stag Industrial Inc has a one year low of $22.64 and a one year high of $28.95. The company has a market capitalization of $2,636.19, a price-to-earnings ratio of 16.78, a P/E/G ratio of 3.09 and a beta of 1.25.
Stag Industrial (NYSE:STAG) last released its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Stag Industrial had a net margin of 18.96% and a return on equity of 5.72%. The company had revenue of $78.14 million during the quarter, compared to analyst estimates of $76.17 million. During the same period last year, the business earned $0.40 earnings per share. Stag Industrial’s revenue was up 24.8% compared to the same quarter last year. analysts anticipate that Stag Industrial Inc will post 1.68 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be given a $0.1183 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.07%. Stag Industrial’s dividend payout ratio (DPR) is currently 261.12%.
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Stag Industrial 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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