California Public Employees Retirement System Acquires 21,088 Shares of Stag Industrial, Inc. $STAG

California Public Employees Retirement System lifted its holdings in Stag Industrial, Inc. (NYSE:STAG) by 5.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 385,548 shares of the real estate investment trust’s stock after purchasing an additional 21,088 shares during the period. California Public Employees Retirement System owned about 0.20% of Stag Industrial worth $13,903,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. NewEdge Advisors LLC grew its stake in shares of Stag Industrial by 17.6% during the first quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust’s stock worth $359,000 after acquiring an additional 1,491 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Stag Industrial by 37.0% in the first 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 during the last quarter. Empowered Funds LLC purchased a new stake in shares of Stag Industrial during the first quarter worth approximately $229,000. EverSource Wealth Advisors LLC lifted its stake in shares of Stag Industrial by 270.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 1,048 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Stag Industrial by 173.4% during the second quarter. First Trust Advisors LP now owns 177,756 shares of the real estate investment trust’s stock worth $6,449,000 after purchasing an additional 112,747 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Stag Industrial Stock Performance

Shares of Stag Industrial stock opened at $41.11 on Friday. The firm’s fifty day simple moving average is $38.74 and its 200-day simple moving average is $38.30. Stag Industrial, Inc. has a 12 month low of $33.72 and a 12 month high of $42.61. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 31.87 and a beta of 0.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.57 and a quick ratio of 1.57.

Stag Industrial (NYSE:STAG) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. Stag Industrial had a net margin of 28.25% and a return on equity of 6.80%. The company had revenue of $224.21 million for the quarter, compared to analyst estimates of $221.51 million. During the same period in the previous year, the business posted $0.61 earnings per share. Stag Industrial’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts forecast that Stag Industrial, Inc. will post 2.64 earnings per share for the current year.

Stag Industrial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.3875 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.55 annualized dividend and a dividend yield of 3.8%. Stag Industrial’s dividend payout ratio (DPR) is currently 120.16%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on STAG shares. Weiss Ratings downgraded shares of Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Barclays upped their price target on Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Evercore restated an “outperform” rating and set a $44.00 price target on shares of Stag Industrial in a research report on Wednesday, April 29th. Wells Fargo & Company cut their target price on shares of Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Finally, Raymond James Financial initiated coverage on shares of Stag Industrial in a report on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.70.

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.