Zacks: Brokerages Expect Stag Industrial, Inc. (STAG) Will Announce Quarterly Sales of $75.36 Million
Brokerages expect Stag Industrial, Inc. (NYSE:STAG) to report $75.36 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Stag Industrial’s earnings. The lowest sales estimate is $69.39 million and the highest is $79.10 million. Stag Industrial posted sales of $62.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 20.4%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Stag Industrial will report full year sales of $75.36 million for the current fiscal year, with estimates ranging from $276.74 million to $303.20 million. For the next financial year, analysts anticipate that the business will report sales of $339.41 million per share, with estimates ranging from $278.71 million to $365.95 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Stag Industrial.
Stag Industrial (NYSE:STAG) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $72.20 million during the quarter, compared to analyst estimates of $71.44 million. Stag Industrial had a net margin of 12.22% and a return on equity of 3.97%. Stag Industrial’s revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS.
STAG has been the subject of several research reports. Jefferies Group LLC restated a “buy” rating and issued a $32.00 price objective (up previously from $31.00) on shares of Stag Industrial in a research report on Tuesday, August 22nd. Evercore ISI upgraded shares of Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Monday, August 14th. Raymond James Financial, Inc. raised their price objective on shares of Stag Industrial from $27.50 to $28.50 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Stag Industrial in a research report on Wednesday, August 2nd. Finally, BidaskClub cut shares of Stag Industrial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $27.50.
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A number of large investors have recently bought and sold shares of STAG. San Francisco Sentry Investment Group CA acquired a new position in shares of Stag Industrial during the second quarter valued at about $117,000. Creative Planning raised its position in shares of Stag Industrial by 140.4% in the second quarter. Creative Planning now owns 4,341 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 2,535 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Stag Industrial by 45.5% in the first quarter. Daiwa Securities Group Inc. now owns 6,400 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 2,000 shares during the period. SG Americas Securities LLC raised its position in shares of Stag Industrial by 3.4% in the first quarter. SG Americas Securities LLC now owns 6,587 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 215 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Stag Industrial during the first quarter valued at about $174,000. Hedge funds and other institutional investors own 81.25% of the company’s stock.
Shares of Stag Industrial (STAG) opened at 27.99 on Friday. Stag Industrial has a 52 week low of $21.21 and a 52 week high of $28.75. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 104.44 and a beta of 1.22. The stock has a 50 day moving average of $27.52 and a 200-day moving average of $26.51.
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a $0.1175 dividend. This represents a $1.41 annualized dividend and a yield of 5.04%. The ex-dividend date is Wednesday, November 29th. Stag Industrial’s payout ratio is presently 503.57%.
About Stag Industrial
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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