Loomis Sayles & Co. L P Has $12.38 Million Holdings in Stag Industrial, Inc. $STAG

Loomis Sayles & Co. L P lowered its position in Stag Industrial, Inc. (NYSE:STAG) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 341,346 shares of the real estate investment trust’s stock after selling 7,877 shares during the period. Loomis Sayles & Co. L P’s holdings in Stag Industrial were worth $12,384,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Stag Industrial during the second quarter worth $282,893,000. Nuveen LLC acquired a new stake in Stag Industrial during the 1st quarter worth about $129,972,000. Cbre Investment Management Listed Real Assets LLC grew its holdings in Stag Industrial by 82.3% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,533,588 shares of the real estate investment trust’s stock worth $128,199,000 after acquiring an additional 1,595,238 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Stag Industrial by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock worth $60,391,000 after acquiring an additional 451,355 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Stag Industrial by 57.0% in the 2nd quarter. Prudential Financial Inc. now owns 1,147,243 shares of the real estate investment trust’s stock valued at $41,622,000 after purchasing an additional 416,415 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stag Industrial

In other news, Director Larry T. Guillemette sold 2,004 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $35.20, for a total value of $70,540.80. Following the completion of the sale, the director owned 38,666 shares in the company, valued at $1,361,043.20. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Chase sold 13,144 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $38.75, for a total transaction of $509,330.00. Following the transaction, the executive vice president owned 9,422 shares in the company, valued at approximately $365,102.50. This trade represents a 58.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 40,148 shares of company stock worth $1,502,621. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Robert W. Baird raised their target price on Stag Industrial from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Cantor Fitzgerald assumed coverage on shares of Stag Industrial in a research report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective for the company. Industrial Alliance Securities set a $37.00 price objective on shares of Stag Industrial in a research note on Wednesday, October 1st. Evercore ISI boosted their target price on shares of Stag Industrial from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Wells Fargo & Company increased their target price on shares of Stag Industrial from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Stag Industrial currently has a consensus rating of “Hold” and a consensus price target of $38.89.

Stag Industrial Price Performance

Shares of NYSE STAG opened at $39.26 on Monday. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 30.20 and a beta of 0.95. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 1.31. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $39.73. The firm’s 50-day simple moving average is $37.62 and its 200 day simple moving average is $36.47.

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

Stag Industrial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.1242 dividend. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. Stag Industrial’s dividend payout ratio is presently 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.