Stag Industrial, Inc. (STAG) Stake Increased by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC lifted its stake in shares of Stag Industrial, Inc. (NYSE:STAG) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 334,069 shares of the real estate investment trust’s stock after acquiring an additional 43,980 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.36% of Stag Industrial worth $9,220,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning boosted its stake in shares of Stag Industrial by 140.4% during the 2nd quarter. Creative Planning now owns 4,341 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 2,535 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Stag Industrial by 3.4% during the 1st quarter. SG Americas Securities LLC now owns 6,587 shares of the real estate investment trust’s stock worth $165,000 after acquiring an additional 215 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Stag Industrial during the 1st quarter worth about $174,000. Federated Investors Inc. PA bought a new stake in shares of Stag Industrial during the 2nd quarter worth about $203,000. Finally, GAM Holding AG boosted its stake in shares of Stag Industrial by 20.2% during the 2nd quarter. GAM Holding AG now owns 7,566 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 1,270 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.
Several brokerages recently weighed in on STAG. Evercore ISI upgraded Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Monday, August 14th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Stag Industrial in a research note on Wednesday, August 2nd. Jefferies Group LLC restated a “buy” rating and set a $32.00 target price (up previously from $31.00) on shares of Stag Industrial in a research note on Tuesday, August 22nd. BidaskClub downgraded Stag Industrial from a “hold” rating to a “sell” rating in a research note on Friday. Finally, UBS AG upgraded Stag Industrial from a “sell” rating to a “neutral” rating and increased their target price for the company from $21.00 to $28.00 in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $27.64.
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Shares of Stag Industrial, Inc. (STAG) opened at 27.94 on Friday. The company’s 50-day moving average price is $27.98 and its 200 day moving average price is $27.08. Stag Industrial, Inc. has a 52 week low of $21.21 and a 52 week high of $28.95. The company has a market cap of $2.58 billion, a P/E ratio of 104.25 and a beta of 1.19.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The firm had revenue of $72.20 million for the quarter, compared to the consensus estimate of $71.44 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year. On average, equities analysts forecast that Stag Industrial, Inc. will post ($0.01) EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Wednesday, November 29th. Stag Industrial’s dividend payout ratio is presently 503.57%.
In other news, EVP Peter S. Fearey sold 1,033 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $28.71, for a total transaction of $29,657.43. Following the completion of the sale, the executive vice president now owns 2,506 shares in the company, valued at $71,947.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
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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