New York State Common Retirement Fund Raises Stock Holdings in Stag Industrial, Inc. $STAG

New York State Common Retirement Fund raised its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,052,573 shares of the real estate investment trust’s stock after buying an additional 17,106 shares during the quarter. New York State Common Retirement Fund’s holdings in Stag Industrial were worth $38,187,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Stag Industrial in the second quarter worth about $282,893,000. Nuveen LLC acquired a new position in shares of Stag Industrial during the first quarter valued at about $129,972,000. Cbre Investment Management Listed Real Assets LLC raised its position in shares of Stag Industrial by 82.3% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,533,588 shares of the real estate investment trust’s stock valued at $128,199,000 after purchasing an additional 1,595,238 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in 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 purchasing an additional 451,355 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in 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 worth $41,622,000 after purchasing an additional 416,415 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Stag Industrial Trading Down 0.4%

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

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

Stag Industrial Dividend Announcement

The firm also recently announced 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. 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 (DPR) is 114.62%.

Analyst Ratings Changes

A number of brokerages have issued reports on STAG. Wells Fargo & Company upped their price target on shares of Stag Industrial from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Industrial Alliance Securities set a $37.00 price objective on shares of Stag Industrial in a report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Stag Industrial in a research report on Tuesday, November 25th. Royal Bank Of Canada increased their price objective on Stag Industrial from $38.00 to $42.00 and gave the company a “sector perform” rating in a report on Thursday, November 6th. Finally, Evercore ISI increased their price objective on shares of Stag Industrial from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.89.

Insiders Place Their Bets

In other news, EVP Michael Chase sold 13,144 shares of the business’s stock in a transaction that occurred on 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 directly owned 9,422 shares in the company, valued at $365,102.50. The trade was a 58.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Larry T. Guillemette sold 2,004 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,361,043.20. This trade represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,148 shares of company stock valued at $1,502,621 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Stag Industrial Company Profile

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.