New York State Common Retirement Fund Buys 58,958 Shares of Stag Industrial, Inc. $STAG

New York State Common Retirement Fund grew its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,111,531 shares of the real estate investment trust’s stock after purchasing an additional 58,958 shares during the quarter. New York State Common Retirement Fund’s holdings in Stag Industrial were worth $39,226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Little House Capital LLC bought a new stake in Stag Industrial during the 3rd quarter worth approximately $915,000. James Investment Research Inc. lifted its holdings in shares of Stag Industrial by 23.6% during the third quarter. James Investment Research Inc. now owns 11,086 shares of the real estate investment trust’s stock worth $391,000 after purchasing an additional 2,118 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in shares of Stag Industrial by 10.4% during the third quarter. Resona Asset Management Co. Ltd. now owns 82,400 shares of the real estate investment trust’s stock worth $2,881,000 after purchasing an additional 7,768 shares during the period. UniSuper Management Pty Ltd grew its stake in shares of Stag Industrial by 2.9% in the third quarter. UniSuper Management Pty Ltd now owns 53,400 shares of the real estate investment trust’s stock worth $1,884,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Naples Global Advisors LLC grew its stake in shares of Stag Industrial by 5.8% in the third quarter. Naples Global Advisors LLC now owns 15,585 shares of the real estate investment trust’s stock worth $550,000 after purchasing an additional 855 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Insider Transactions at Stag Industrial

In other Stag Industrial news, EVP Michael Chase sold 13,144 shares of Stag Industrial stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $38.75, for a total value of $509,330.00. Following the sale, the executive vice president owned 9,422 shares of the company’s stock, valued at approximately $365,102.50. The trade was a 58.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on STAG shares. Evercore ISI upped their target price on Stag Industrial from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Wells Fargo & Company upped their price objective 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. Citigroup lifted their target price on shares of Stag Industrial from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Industrial Alliance Securities set a $39.00 price target on shares of Stag Industrial in a research report on Tuesday, January 13th. Finally, Barclays reissued an “underweight” rating and issued a $39.00 price objective (down from $40.00) on shares of Stag Industrial in a research report on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.33.

Stag Industrial Trading Up 0.6%

NYSE STAG opened at $37.50 on Friday. The business has a fifty day simple moving average of $37.74 and a 200 day simple moving average of $36.94. The firm has a market capitalization of $7.00 billion, a P/E ratio of 28.85 and a beta of 1.06. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.89. Stag Industrial, Inc. has a 12 month low of $28.61 and a 12 month high of $39.73.

Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Stag Industrial had a net margin of 29.24% and a return on equity of 6.84%. The business had revenue of $211.12 million for the quarter, compared to analysts’ expectations of $210.26 million. During the same period in the previous year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts predict that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.3875 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.55 annualized dividend and a dividend yield of 4.1%. Stag Industrial’s dividend payout ratio (DPR) is currently 114.62%.

About Stag Industrial

Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company’s portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.

Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.