Bessemer Group Inc. Sells 99,792 Shares of Stag Industrial, Inc. $STAG

Bessemer Group Inc. trimmed its holdings in shares of Stag Industrial, Inc. (NYSE:STAG) by 12.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 734,941 shares of the real estate investment trust’s stock after selling 99,792 shares during the quarter. Bessemer Group Inc.’s holdings in Stag Industrial were worth $26,502,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Stag Industrial during the fourth quarter worth $295,644,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Stag Industrial by 434,005.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,098,286 shares of the real estate investment trust’s stock valued at $40,373,000 after acquiring an additional 1,098,033 shares during the period. Heitman Real Estate Securities LLC purchased a new position in shares of Stag Industrial in the 4th quarter valued at $33,558,000. Mackenzie Financial Corp bought a new position in shares of Stag Industrial in the 4th quarter worth $25,459,000. Finally, Balyasny Asset Management L.P. raised its position in shares of Stag Industrial by 1,818.4% in the 3rd quarter. Balyasny Asset Management L.P. now owns 570,931 shares of the real estate investment trust’s stock worth $20,148,000 after acquiring an additional 541,170 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Stag Industrial Stock Performance

Shares of STAG opened at $41.67 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.87. The firm has a market cap of $7.97 billion, a PE ratio of 32.31 and a beta of 0.97. Stag Industrial, Inc. has a 12 month low of $33.72 and a 12 month high of $42.61. The stock has a fifty day moving average price of $38.44 and a 200-day moving average price of $38.15.

Stag Industrial (NYSE:STAG) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. Stag Industrial had a return on equity of 6.80% and a net margin of 28.25%.The firm had revenue of $224.21 million for the quarter, compared to the consensus estimate of $221.51 million. During the same period in the previous year, the business earned $0.61 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts predict that Stag Industrial, Inc. will post 2.64 earnings per share for the current fiscal year.

Stag Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. Stag Industrial’s dividend payout ratio (DPR) is currently 120.16%.

Analysts Set New Price Targets

STAG has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Evercore reiterated an “outperform” rating and issued a $44.00 target price on shares of Stag Industrial in a report on Wednesday, April 29th. Weiss Ratings downgraded shares of Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Raymond James Financial initiated coverage on shares of Stag Industrial in a research report on Wednesday, June 17th. They set an “outperform” rating and a $44.00 price target for the company. Finally, Barclays raised their price target on shares of Stag Industrial from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.70.

Stag Industrial Company Profile

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.