Cantor Fitzgerald Reiterates $24.00 Price Target for Stag Industrial Inc. (STAG)
Stag Industrial Inc. (NYSE:STAG) received a $24.00 price objective from research analysts at Cantor Fitzgerald in a research report issued on Thursday. The firm currently has a a “hold” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 5.91% from the company’s current price.
Several other research analysts have also recently commented on STAG. Jefferies Group reissued a “hold” rating and set a $22.00 target price on shares of Stag Industrial in a research note on Wednesday, July 6th. Capital One Financial Corp. cut Stag Industrial from an “overweight” rating to an “equal weight” rating and set a $21.00 target price for the company. in a research note on Monday, July 18th. DA Davidson upped their price objective on Stag Industrial from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Royal Bank Of Canada upped their price objective on Stag Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $26.00 price objective (up from $22.00) on shares of Stag Industrial in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Stag Industrial has an average rating of “Hold” and an average target price of $24.05.
Shares of Stag Industrial (NYSE:STAG) traded up 1.94% on Thursday, hitting $23.10. The stock had a trading volume of 521,267 shares. Stag Industrial has a 52-week low of $14.97 and a 52-week high of $25.51. The firm’s 50-day moving average price is $23.98 and its 200 day moving average price is $22.77. The firm’s market cap is $1.65 billion.
Stag Industrial (NYSE:STAG) last released its earnings results on Tuesday, August 2nd. The company reported $0.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Stag Industrial had a negative return on equity of 3.09% and a negative net margin of 9.21%. The firm earned $60.24 million during the quarter, compared to analysts’ expectations of $54.24 million. During the same period in the previous year, the firm posted $0.36 EPS. Stag Industrial’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, equities research analysts predict that Stag Industrial will post $1.56 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be given a $0.1158 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 6.13%. Stag Industrial’s dividend payout ratio (DPR) is presently -272.55%.
In related news, Director Larry T. Guillemette acquired 10,500 shares of Stag Industrial stock in a transaction on Monday, September 26th. The stock was purchased at an average cost of $24.91 per share, with a total value of $261,555.00. Following the purchase, the director now directly owns 11,882 shares in the company, valued at $295,980.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Benjamin S. Butcher acquired 2,000 shares of Stag Industrial stock in a transaction on Friday, September 9th. The shares were bought at an average cost of $23.81 per share, with a total value of $47,620.00. Following the completion of the purchase, the chief executive officer now owns 72,088 shares in the company, valued at $1,716,415.28. The disclosure for this purchase can be found here. 2.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of STAG. Advisory Services Network LLC increased its stake in Stag Industrial by 47.5% in the second quarter. Advisory Services Network LLC now owns 6,294 shares of the company’s stock valued at $150,000 after buying an additional 2,027 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Stag Industrial by 110.0% in the third quarter. BNP Paribas Arbitrage SA now owns 6,445 shares of the company’s stock valued at $158,000 after buying an additional 3,376 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Stag Industrial during the second quarter valued at approximately $192,000. ProShare Advisors LLC bought a new stake in Stag Industrial during the second quarter valued at approximately $200,000. Finally, Spirit of America Management Corp NY bought a new stake in Stag Industrial during the second quarter valued at approximately $210,000. 76.99% of the stock is owned by hedge funds and other institutional investors.
Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company focuses on the acquisition and operation of single-tenant industrial properties across the United States. The Company owns approximately 290 buildings in over 40 states with approximately 54.7 million rentable square feet, consisting of over 220 warehouse/distribution buildings, approximately 50 light manufacturing buildings and over 20 flex/office buildings.
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