Stag Industrial Inc. (STAG) Downgraded to Hold at Zacks Investment Research
According to Zacks, “STAG Industrial, Inc. operates as a real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States. STAG Industrial, Inc. is based in United States. “
Several other brokerages have also commented on STAG. Jefferies Group raised Stag Industrial from a hold rating to a buy rating in a research note on Tuesday. RBC Capital Markets reaffirmed an outperform rating and issued a $26.00 price target (up previously from $22.00) on shares of Stag Industrial in a research note on Friday, August 5th. Royal Bank Of Canada upped their price target on Stag Industrial from $22.00 to $26.00 and gave the company an outperform rating in a research note on Friday, August 5th. Cantor Fitzgerald reaffirmed a hold rating and issued a $23.50 price target on shares of Stag Industrial in a research note on Monday, August 22nd. Finally, Capital One Financial Corp. raised Stag Industrial from an equal weight rating to an overweight rating and set a $24.00 price target on the stock in a research note on Friday, October 14th. One equities 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. The stock has a consensus rating of Buy and a consensus price target of $24.68.
Stag Industrial (NYSE:STAG) traded up 1.03% during mid-day trading on Thursday, reaching $22.60. The company’s stock had a trading volume of 69,196 shares. The firm’s 50 day moving average price is $22.83 and its 200 day moving average price is $23.23. Stag Industrial has a 12-month low of $14.97 and a 12-month high of $25.51. The stock’s market cap is $1.71 billion.
Stag Industrial (NYSE:STAG) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Stag Industrial had a negative return on equity of 2.54% and a negative net margin of 7.25%. The firm earned $62.60 million during the quarter, compared to analysts’ expectations of $11.01 million. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts predict that Stag Industrial will post $1.56 earnings per share for the current year.
In other news, Director Larry T. Guillemette bought 10,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 11,882 shares in the company, valued at $295,980.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Benjamin S. Butcher bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was purchased at an average cost of $23.81 per share, with a total value of $47,620.00. Following the completion of the transaction, 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.
Several hedge funds have recently made changes to their positions in STAG. US Bancorp DE boosted its stake in Stag Industrial by 20.9% in the third quarter. US Bancorp DE now owns 6,184 shares of the company’s stock worth $152,000 after buying an additional 1,071 shares during the last quarter. Advisory Services Network LLC boosted 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 worth $150,000 after buying an additional 2,027 shares during the last quarter. BNP Paribas Arbitrage SA boosted 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 worth $158,000 after buying an additional 3,376 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Stag Industrial during the second quarter worth $192,000. Finally, ProShare Advisors LLC bought a new stake in Stag Industrial during the second quarter worth $200,000. 78.20% 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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