Stag Industrial, Inc. (NYSE:STAG) is GW&K Investment Management LLC’s 10th Largest Position
GW&K Investment Management LLC raised its position in Stag Industrial, Inc. (NYSE:STAG) by 7.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,326,170 shares of the real estate investment trust’s stock after buying an additional 168,331 shares during the period. Stag Industrial makes up about 1.1% of GW&K Investment Management LLC’s investment portfolio, making the stock its 10th largest position. GW&K Investment Management LLC owned approximately 2.62% of Stag Industrial worth $64,202,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of STAG. BlackRock Inc. raised its stake in shares of Stag Industrial by 1,758.0% in the first quarter. BlackRock Inc. now owns 8,449,687 shares of the real estate investment trust’s stock valued at $211,412,000 after buying an additional 7,994,905 shares in the last quarter. Brookfield Asset Management Inc. purchased a new stake in shares of Stag Industrial during the first quarter valued at $62,369,000. Vanguard Group Inc. raised its stake in shares of Stag Industrial by 12.0% in the first quarter. Vanguard Group Inc. now owns 12,690,886 shares of the real estate investment trust’s stock valued at $317,526,000 after buying an additional 1,364,728 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Stag Industrial by 36.1% in the first quarter. Bank of New York Mellon Corp now owns 4,303,925 shares of the real estate investment trust’s stock valued at $107,683,000 after buying an additional 1,142,675 shares during the period. Finally, Norges Bank purchased a new stake in shares of Stag Industrial during the fourth quarter valued at $18,805,000. Institutional investors own 77.43% of the company’s stock.
Shares of Stag Industrial, Inc. (NYSE:STAG) traded down 1.04% on Friday, hitting $27.59. The stock had a trading volume of 439,503 shares. Stag Industrial, Inc. has a 12 month low of $21.21 and a 12 month high of $28.66. The company has a market cap of $2.45 billion, a P/E ratio of 226.15 and a beta of 1.23. The company’s 50 day moving average price is $27.57 and its 200-day moving average price is $25.75.
Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $69.48 million for the quarter, compared to analyst estimates of $68.57 million. Stag Industrial had a return on equity of 3.21% and a net margin of 8.48%. On average, analysts expect that Stag Industrial, Inc. will post ($0.05) earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.1175 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.41 annualized dividend and a dividend yield of 5.11%. Stag Industrial’s dividend payout ratio (DPR) is 1,555.73%.
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A number of brokerages have recently issued reports on STAG. Cantor Fitzgerald reiterated a “hold” rating and set a $25.00 price target on shares of Stag Industrial in a research report on Tuesday, May 2nd. BidaskClub cut Stag Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Jefferies Group LLC reissued a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Stag Industrial in a research note on Sunday, June 25th. Finally, Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Stag Industrial in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $25.31.
Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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