Assetmark Inc. Has $1.02 Million Holdings in Stag Industrial, Inc. $STAG

Assetmark Inc. boosted its holdings in Stag Industrial, Inc. (NYSE:STAG) by 1,452.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 28,172 shares of the real estate investment trust’s stock after acquiring an additional 26,357 shares during the quarter. Assetmark Inc.’s holdings in Stag Industrial were worth $1,022,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Stag Industrial by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 26,178,628 shares of the real estate investment trust’s stock valued at $945,572,000 after purchasing an additional 347,729 shares in the last quarter. Earnest Partners LLC boosted its position in Stag Industrial by 0.7% in the first quarter. Earnest Partners LLC now owns 3,820,565 shares of the real estate investment trust’s stock valued at $137,999,000 after buying an additional 25,140 shares in the last quarter. Alliancebernstein L.P. boosted its position in Stag Industrial by 3.3% in the first quarter. Alliancebernstein L.P. now owns 3,788,036 shares of the real estate investment trust’s stock valued at $136,824,000 after buying an additional 120,442 shares in the last quarter. Nuveen LLC acquired a new stake in Stag Industrial in the first quarter valued at approximately $129,972,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Stag Industrial by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,212,192 shares of the real estate investment trust’s stock valued at $116,024,000 after buying an additional 87,659 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stag Industrial

In related news, Director Benjamin S. Butcher sold 25,000 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $36.91, for a total transaction of $922,750.00. Following the transaction, the director owned 7,562 shares in the company, valued at $279,113.42. The trade was a 76.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry T. Guillemette sold 2,004 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $35.20, for a total transaction of $70,540.80. Following the transaction, the director owned 38,666 shares in the company, valued at $1,361,043.20. The trade was a 4.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STAG. Weiss Ratings reissued a “hold (c+)” rating on shares of Stag Industrial in a report on Wednesday, October 8th. Cantor Fitzgerald initiated coverage on Stag Industrial in a research note on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price target on the stock. Evercore ISI lifted their price target on Stag Industrial from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Robert W. Baird lifted their target price on shares of Stag Industrial from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Industrial Alliance Securities set a $37.00 target price on shares of Stag Industrial in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Stag Industrial currently has a consensus rating of “Hold” and a consensus price target of $38.29.

Stag Industrial Price Performance

Stag Industrial stock opened at $38.66 on Thursday. The stock’s 50 day moving average is $36.71 and its 200 day moving average is $35.81. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market cap of $7.22 billion, a P/E ratio of 29.74 and a beta of 0.95. Stag Industrial, Inc. has a one year low of $28.61 and a one year high of $39.01.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $211.12 million for the quarter, compared to the consensus estimate of $210.26 million. Stag Industrial had a net margin of 29.24% and a return on equity of 6.82%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, research analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.1242 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) annualized dividend and a yield of 3.9%. Stag Industrial’s payout ratio is 114.62%.

About Stag Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.