Rhumbline Advisers Lowers Stock Holdings in Stag Industrial, Inc. $STAG

Rhumbline Advisers reduced its stake in Stag Industrial, Inc. (NYSE:STAG) by 4.2% during the third quarter, Holdings Channel.com reports. The fund owned 535,145 shares of the real estate investment trust’s stock after selling 23,644 shares during the quarter. Rhumbline Advisers’ holdings in Stag Industrial were worth $18,885,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Park Avenue Securities LLC grew its stake in Stag Industrial by 3.5% in the third quarter. Park Avenue Securities LLC now owns 7,639 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 260 shares in the last quarter. Benjamin Edwards Inc. raised its position in Stag Industrial by 4.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,230 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 282 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Stag Industrial by 4.2% in the 2nd quarter. ProShare Advisors LLC now owns 8,275 shares of the real estate investment trust’s stock worth $300,000 after buying an additional 332 shares during the period. AlphaQuest LLC grew its position in shares of Stag Industrial by 3.3% during the 3rd quarter. AlphaQuest LLC now owns 10,875 shares of the real estate investment trust’s stock worth $384,000 after buying an additional 350 shares in the last quarter. Finally, Merit Financial Group LLC grew its position in shares of Stag Industrial by 1.7% during the 3rd quarter. Merit Financial Group LLC now owns 21,925 shares of the real estate investment trust’s stock worth $774,000 after buying an additional 367 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on STAG shares. Wall Street Zen upgraded Stag Industrial from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Wells Fargo & Company raised their target price on shares of Stag Industrial from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Barclays restated an “underweight” rating and issued a $39.00 price target (down previously from $40.00) on shares of Stag Industrial in a report on Tuesday, January 13th. Citigroup increased their price objective on shares of Stag Industrial from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Finally, Evercore reissued an “outperform” rating on shares of Stag Industrial in a report on Friday. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.44.

Stag Industrial Stock Performance

STAG stock opened at $38.37 on Wednesday. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 26.28 and a beta of 1.06. The firm has a 50-day simple moving average of $37.66 and a two-hundred day simple moving average of $37.23. Stag Industrial, Inc. has a one year low of $28.61 and a one year high of $39.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.90 and a current ratio of 1.90.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $220.90 million for the quarter, compared to the consensus estimate of $213.66 million. Stag Industrial had a net margin of 32.35% and a return on equity of 7.68%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. On average, equities analysts forecast that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.0%. Stag Industrial’s dividend payout ratio is presently 102.05%.

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.