Wedge Capital Management L L P NC trimmed its holdings in shares of STAG Industrial Inc (NYSE:STAG) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,104,896 shares of the real estate investment trust’s stock after selling 124,565 shares during the period. Wedge Capital Management L L P NC owned approximately 2.16% of STAG Industrial worth $50,349,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Aperio Group LLC purchased a new position in shares of STAG Industrial in the 4th quarter worth $216,000. Signition LP purchased a new position in shares of STAG Industrial in the 4th quarter worth $222,000. Kovack Advisors Inc. purchased a new position in shares of STAG Industrial in the 4th quarter worth $239,000. First Mercantile Trust Co. boosted its stake in shares of STAG Industrial by 31.7% in the 4th quarter. First Mercantile Trust Co. now owns 9,090 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 2,190 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of STAG Industrial in the 4th quarter worth $278,000. Institutional investors and hedge funds own 87.80% of the company’s stock.
Shares of STAG Industrial stock opened at $25.33 on Friday. STAG Industrial Inc has a one year low of $25.40 and a one year high of $25.76. The firm has a market capitalization of $2.49 billion, a P/E ratio of 14.99, a P/E/G ratio of 3.10 and a beta of 1.08. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63.
STAG Industrial (NYSE:STAG) last announced its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.21). STAG Industrial had a return on equity of 4.71% and a net margin of 17.55%. The company had revenue of $83.28 million during the quarter, compared to the consensus estimate of $82.27 million. During the same period in the prior year, the business posted $0.41 earnings per share. STAG Industrial’s revenue for the quarter was up 19.9% compared to the same quarter last year. analysts forecast that STAG Industrial Inc will post 1.78 earnings per share for the current year.
The firm also recently declared a monthly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be issued a dividend of $0.1183 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.42 dividend on an annualized basis and a yield of 5.61%. STAG Industrial’s dividend payout ratio is presently 84.02%.
A number of equities analysts have recently issued reports on STAG shares. Zacks Investment Research downgraded STAG Industrial from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. ValuEngine downgraded STAG Industrial from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Ladenburg Thalmann restated a “buy” rating and issued a $32.00 price target on shares of STAG Industrial in a research note on Friday, February 16th. Cantor Fitzgerald set a $29.00 price target on STAG Industrial and gave the stock a “hold” rating in a research note on Thursday, February 15th. Finally, DA Davidson restated a “neutral” rating on shares of STAG Industrial in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $29.19.
About STAG Industrial
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. As of December 31, 2017, the Company owned 356 buildings in 37 states with approximately 70.2 million rentable square feet (square feet unaudited herein and throughout the Notes), consisting of 288 warehouse/distribution buildings, 52 light manufacturing buildings, 14 flex/office buildings, and two buildings classified as held for sale.
Receive News & Ratings for STAG Industrial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STAG Industrial and related companies with MarketBeat.com's FREE daily email newsletter.