Stag Industrial Inc. (STAG) Upgraded at Jefferies Group
Several other analysts have also recently issued reports on the stock. Capital One Financial Corp. raised shares of Stag Industrial from an equal weight rating to an overweight rating and set a $24.00 price objective for the company in a research note on Friday, October 14th. Cantor Fitzgerald set a $24.00 target price on shares of Stag Industrial and gave the company a hold rating in a report on Thursday, October 13th. Robert W. Baird reiterated an outperform rating and issued a $26.00 target price on shares of Stag Industrial in a report on Friday, August 26th. RBC Capital Markets reiterated an outperform rating and issued a $26.00 target price (up from $22.00) on shares of Stag Industrial in a report on Friday, August 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Stag Industrial from $22.00 to $26.00 and gave the company an outperform rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $24.68.
Shares of Stag Industrial (NYSE:STAG) opened at 22.37 on Tuesday. Stag Industrial has a 52 week low of $14.97 and a 52 week high of $25.51. The company’s market cap is $1.69 billion. The firm has a 50-day moving average of $22.83 and a 200 day moving average of $23.23.
Stag Industrial (NYSE:STAG) last released its earnings results on Thursday, November 3rd. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business earned $62.60 million during the quarter, compared to analysts’ expectations of $11.01 million. Stag Industrial had a negative net margin of 7.25% and a negative return on equity of 2.54%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 earnings per share. Equities analysts expect that Stag Industrial will post $1.56 EPS for the current fiscal year.
In other Stag Industrial news, CEO Benjamin S. Butcher purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was purchased at an average price of $23.81 per share, for a total transaction of $47,620.00. Following the purchase, the chief executive officer now directly owns 72,088 shares in the company, valued at $1,716,415.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry T. Guillemette purchased 10,500 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were acquired at an average price of $24.91 per share, with a total value of $261,555.00. Following the purchase, the director now owns 11,882 shares in the company, valued at $295,980.62. The disclosure for this purchase can be found here. Corporate insiders own 2.10% of the company’s stock.
Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Stag Industrial by 12,434.9% in the first quarter. JPMorgan Chase & Co. now owns 62,549 shares of the company’s stock worth $1,274,000 after buying an additional 62,050 shares in the last quarter. AMP Capital Investors Ltd boosted its stake in shares of Stag Industrial by 6.9% in the first quarter. AMP Capital Investors Ltd now owns 38,557 shares of the company’s stock worth $773,000 after buying an additional 2,500 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Stag Industrial by 8.5% in the first quarter. Legal & General Group Plc now owns 135,920 shares of the company’s stock worth $2,763,000 after buying an additional 10,654 shares in the last quarter. Aristotle Capital Boston LLC boosted its stake in shares of Stag Industrial by 3.9% in the first quarter. Aristotle Capital Boston LLC now owns 213,837 shares of the company’s stock worth $4,354,000 after buying an additional 8,037 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Stag Industrial by 8.4% in the first quarter. Barclays PLC now owns 62,732 shares of the company’s stock worth $1,254,000 after buying an additional 4,855 shares in the last quarter. Hedge funds and other institutional investors own 78.20% of the company’s stock.
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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