Capital One Financial Corp. Upgrades Stag Industrial Inc. (STAG) to Overweight
Stag Industrial Inc. (NYSE:STAG) was upgraded by research analysts at Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating in a report issued on Friday.
STAG has been the topic of a number of other reports. RBC Capital Markets reiterated an “outperform” rating and set a $26.00 price objective (up from $22.00) on shares of Stag Industrial in a research note on Friday, August 5th. Cantor Fitzgerald reiterated a “hold” rating and set a $23.50 price objective on shares of Stag Industrial in a research note on Monday, August 22nd. Royal Bank Of Canada increased their price objective on shares of Stag Industrial from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Jefferies Group restated a “hold” rating and issued a $22.00 target price on shares of Stag Industrial in a research note on Wednesday, July 6th. Finally, DA Davidson raised their target price on shares of Stag Industrial from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $24.05.
Shares of Stag Industrial (NYSE:STAG) opened at 23.06 on Friday. The company’s market cap is $1.65 billion. The stock’s 50 day moving average is $23.94 and its 200-day moving average is $22.78. Stag Industrial has a 12 month low of $14.97 and a 12 month high of $25.51.
Stag Industrial (NYSE:STAG) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.38. Stag Industrial had a negative net margin of 9.21% and a negative return on equity of 3.09%. The firm had revenue of $60.24 million for the quarter, compared to the consensus estimate of $54.24 million. During the same period last year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities analysts forecast that Stag Industrial will post $1.56 EPS for the current year.
The business also recently declared a monthly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be issued a $0.1158 dividend. The ex-dividend date is Thursday, October 27th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 6.03%. Stag Industrial’s dividend payout ratio is currently -272.55%.
In other Stag Industrial news, Director Larry T. Guillemette bought 10,500 shares of Stag Industrial stock in a transaction that occurred on Monday, September 26th. The stock was purchased at an average price of $24.91 per share, with a total value of $261,555.00. Following the completion of the acquisition, the director now directly owns 11,882 shares in the company, valued at approximately $295,980.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Benjamin S. Butcher bought 2,000 shares of Stag Industrial stock in a transaction that occurred on Friday, September 9th. The shares were acquired at an average cost of $23.81 per share, with a total value of $47,620.00. Following the acquisition, the chief executive officer now owns 72,088 shares of the company’s stock, valued at $1,716,415.28. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC boosted its position in shares of 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 during the period. BNP Paribas Arbitrage SA raised 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 purchased a new stake in Stag Industrial during the second quarter valued at approximately $192,000. ProShare Advisors LLC purchased a new stake in Stag Industrial during the second quarter valued at approximately $200,000. Finally, Spirit of America Management Corp NY purchased 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.
About Stag Industrial
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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