David G. King Sells 35,000 Shares of Stag Industrial Inc (STAG) Stock
Stag Industrial Inc (NYSE:STAG) EVP David G. King sold 35,000 shares of Stag Industrial stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $26.41, for a total value of $924,350.00. Following the transaction, the executive vice president now directly owns 35,364 shares in the company, valued at $933,963.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Stag Industrial Inc (NYSE STAG) opened at $25.55 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.09 and a quick ratio of 0.09. Stag Industrial Inc has a 1 year low of $22.70 and a 1 year high of $28.95. The firm has a market capitalization of $2,400.00, a price-to-earnings ratio of 46.45, a P/E/G ratio of 2.70 and a beta of 1.26.
Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. Stag Industrial had a return on equity of 5.72% and a net margin of 18.96%. The business had revenue of $78.14 million during the quarter, compared to analyst estimates of $76.17 million. During the same quarter last year, the company posted $0.40 EPS. Stag Industrial’s revenue for the quarter was up 24.8% on a year-over-year basis. research analysts expect that Stag Industrial Inc will post 1.68 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. boosted its position in shares of Stag Industrial by 21.7% in the 3rd quarter. Moors & Cabot Inc. now owns 18,000 shares of the real estate investment trust’s stock valued at $493,000 after purchasing an additional 3,210 shares during the period. Dana Investment Advisors Inc. acquired a new stake in Stag Industrial during the 3rd quarter worth about $2,219,000. Argent Capital Management LLC acquired a new stake in Stag Industrial during the 3rd quarter worth about $1,176,000. California Public Employees Retirement System boosted its position in Stag Industrial by 5.9% during the 3rd quarter. California Public Employees Retirement System now owns 164,024 shares of the real estate investment trust’s stock worth $4,506,000 after acquiring an additional 9,124 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Stag Industrial by 51.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,191 shares of the real estate investment trust’s stock worth $746,000 after acquiring an additional 9,182 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.
STAG has been the topic of a number of research analyst reports. BidaskClub lowered Stag Industrial from a “hold” rating to a “sell” rating in a report on Friday, October 6th. TheStreet lowered Stag Industrial from a “b-” rating to a “c+” rating in a report on Tuesday, December 19th. Jefferies Group reaffirmed a “buy” rating and set a $32.00 target price on shares of Stag Industrial in a report on Tuesday, September 26th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Stag Industrial in a report on Friday, November 3rd. Finally, JPMorgan Chase & Co. raised Stag Industrial from a “neutral” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $28.50.
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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