JPMorgan Chase & Co. boosted its position in shares of Stag Industrial Inc (NYSE:STAG) by 51.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,271 shares of the real estate investment trust’s stock after buying an additional 88,854 shares during the quarter. JPMorgan Chase & Co. owned 0.24% of Stag Industrial worth $7,212,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of STAG. First Hawaiian Bank bought a new stake in shares of Stag Industrial in the third quarter valued at about $148,000. Virtu Financial LLC bought a new stake in shares of Stag Industrial in the third quarter valued at about $215,000. Signition LP bought a new position in Stag Industrial in the third quarter worth about $225,000. Redpoint Investment Management Pty Ltd bought a new position in Stag Industrial in the third quarter worth about $229,000. Finally, Exane Derivatives raised its holdings in Stag Industrial by 54,105.3% in the third quarter. Exane Derivatives now owns 10,299 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 10,280 shares in the last quarter. 83.68% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $32.00 target price (up from $31.00) on shares of Stag Industrial in a report on Wednesday. Zacks Investment Research upgraded Stag Industrial from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Raymond James dropped their price target on Stag Industrial from $29.50 to $28.50 and set an “outperform” rating on the stock in a research note on Monday, November 5th. DA Davidson dropped their price target on Stag Industrial to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 1st. Finally, JMP Securities restated an “outperform” rating on shares of Stag Industrial in a research note on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Stag Industrial has an average rating of “Hold” and an average target price of $27.92.
In related news, COO Stephen C. Mecke sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $24.45, for a total value of $1,222,500.00. Following the sale, the chief operating officer now owns 15,452 shares in the company, valued at $377,801.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter S. Fearey sold 6,595 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $24.46, for a total value of $161,313.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 252,334 shares of company stock worth $6,138,541. 1.70% of the stock is owned by insiders.
Shares of STAG stock opened at $28.36 on Thursday. Stag Industrial Inc has a fifty-two week low of $22.57 and a fifty-two week high of $29.07. The stock has a market cap of $3.22 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 3.07 and a beta of 1.10. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.10 and a current ratio of 1.10.
Stag Industrial (NYSE:STAG) last issued its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. The firm had revenue of $93.29 million for the quarter, compared to analyst estimates of $91.61 million. Stag Industrial had a return on equity of 6.16% and a net margin of 24.98%. Stag Industrial’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Sell-side analysts predict that Stag Industrial Inc will post 1.87 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be given a $0.1192 dividend. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $1.43 dividend on an annualized basis and a yield of 5.04%. Stag Industrial’s dividend payout ratio is currently 79.89%.
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. 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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