Insider Selling: Stag Industrial Inc (NYSE:STAG) COO Sells 51,212 Shares of Stock
Stag Industrial Inc (NYSE:STAG) COO Stephen C. Mecke sold 51,212 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $31.32, for a total value of $1,603,959.84. Following the completion of the transaction, the chief operating officer now directly owns 46,549 shares of the company’s stock, valued at $1,457,914.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of STAG stock traded up $0.22 during trading hours on Friday, hitting $31.72. The stock had a trading volume of 823,500 shares, compared to its average volume of 784,500. The firm has a market capitalization of $4.19 billion, a PE ratio of 17.72, a PEG ratio of 4.09 and a beta of 0.86. Stag Industrial Inc has a twelve month low of $25.88 and a twelve month high of $31.89. The stock’s 50 day moving average is $31.04 and its 200 day moving average is $30.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.90 and a quick ratio of 0.90.
Stag Industrial (NYSE:STAG) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.39). The firm had revenue of $102.42 million during the quarter, compared to analyst estimates of $100.78 million. Stag Industrial had a net margin of 19.96% and a return on equity of 4.35%. Stag Industrial’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, equities analysts predict that Stag Industrial Inc will post 1.82 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Pictet Asset Management Ltd. lifted its holdings in shares of Stag Industrial by 38.8% during the second quarter. Pictet Asset Management Ltd. now owns 23,600 shares of the real estate investment trust’s stock worth $714,000 after purchasing an additional 6,600 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Stag Industrial by 54.6% during the third quarter. California Public Employees Retirement System now owns 249,207 shares of the real estate investment trust’s stock worth $7,347,000 after purchasing an additional 87,961 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Stag Industrial by 9.1% during the third quarter. Public Employees Retirement System of Ohio now owns 91,479 shares of the real estate investment trust’s stock worth $2,697,000 after purchasing an additional 7,624 shares during the period. Rhumbline Advisers lifted its holdings in shares of Stag Industrial by 7.6% during the third quarter. Rhumbline Advisers now owns 226,618 shares of the real estate investment trust’s stock worth $6,681,000 after purchasing an additional 16,028 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Stag Industrial during the third quarter worth $3,680,000. 92.93% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on STAG shares. Wells Fargo & Co raised Stag Industrial from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Tuesday, December 10th. JPMorgan Chase & Co. raised Stag Industrial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $34.00 in a report on Wednesday, December 18th. Zacks Investment Research raised Stag Industrial from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Finally, Royal Bank of Canada raised Stag Industrial from an “outperform” rating to a “top pick” rating and increased their price objective for the company from $33.00 to $34.00 in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.83.
Stag Industrial Company Profile
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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