Johnson Investment Counsel Inc. grew its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 10.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,984 shares of the real estate investment trust’s stock after purchasing an additional 5,500 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in STAG Industrial were worth $2,252,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in STAG. Canada Pension Plan Investment Board grew its stake in STAG Industrial by 14.7% in the first quarter. Canada Pension Plan Investment Board now owns 53,465 shares of the real estate investment trust’s stock valued at $1,797,000 after acquiring an additional 6,865 shares during the period. Bank of Montreal Can raised its stake in shares of STAG Industrial by 3.8% during the 1st quarter. Bank of Montreal Can now owns 645,057 shares of the real estate investment trust’s stock valued at $22,415,000 after purchasing an additional 23,594 shares during the period. Kempen Capital Management N.V. raised its stake in shares of STAG Industrial by 6.0% during the 2nd quarter. Kempen Capital Management N.V. now owns 618,563 shares of the real estate investment trust’s stock valued at $23,153,000 after purchasing an additional 35,250 shares during the period. Squarepoint Ops LLC bought a new stake in shares of STAG Industrial during the 1st quarter valued at $736,000. Finally, Walleye Trading LLC raised its stake in shares of STAG Industrial by 112.6% during the 1st quarter. Walleye Trading LLC now owns 16,592 shares of the real estate investment trust’s stock valued at $558,000 after purchasing an additional 8,787 shares during the period. 86.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. Capital One Financial restated a “buy” rating and issued a $44.00 target price on shares of STAG Industrial in a research note on Friday, July 16th. Zacks Investment Research upgraded STAG Industrial from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, September 28th. Raymond James upped their price target on STAG Industrial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. Finally, Royal Bank of Canada upped their price target on STAG Industrial from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, STAG Industrial presently has an average rating of “Buy” and a consensus price target of $40.43.
STAG stock opened at $42.34 on Thursday. STAG Industrial, Inc. has a twelve month low of $29.34 and a twelve month high of $43.55. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.69. The firm has a market cap of $6.86 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 4.45 and a beta of 0.90. The business has a 50 day moving average of $41.45 and a 200 day moving average of $38.68.
STAG Industrial (NYSE:STAG) last issued its earnings results on Tuesday, July 27th. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.30). The business had revenue of $138.43 million for the quarter, compared to analysts’ expectations of $134.36 million. STAG Industrial had a net margin of 34.24% and a return on equity of 6.78%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 earnings per share. On average, research analysts expect that STAG Industrial, Inc. will post 2.01 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be given a $0.1208 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $1.45 annualized dividend and a yield of 3.42%. STAG Industrial’s dividend payout ratio is currently 76.72%.
STAG Industrial Profile
STAG Industrial, Inc is a real estate investment trust, which focuses on acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.
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