Oppenheimer Asset Management Inc. Makes New Investment in Stag Industrial, Inc. $STAG

Oppenheimer Asset Management Inc. bought a new position in shares of Stag Industrial, Inc. (NYSE:STAG) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 97,044 shares of the real estate investment trust’s stock, valued at approximately $3,693,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in Stag Industrial during the fourth quarter worth approximately $295,644,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Stag Industrial by 434,005.1% during 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 worth $40,373,000 after acquiring an additional 1,098,033 shares during the period. Heitman Real Estate Securities LLC acquired a new position in Stag Industrial in the 4th quarter valued at $33,558,000. Mackenzie Financial Corp acquired a new position in Stag Industrial in the 4th quarter valued at $25,459,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of Stag Industrial by 1,818.4% during the 3rd quarter. Balyasny Asset Management L.P. now owns 570,931 shares of the real estate investment trust’s stock valued at $20,148,000 after acquiring an additional 541,170 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STAG has been the topic of several analyst reports. Wall Street Zen raised Stag Industrial from a “sell” rating to a “hold” rating in a report on Sunday. Robert W. Baird set a $138.00 price target on Stag Industrial in a research note on Friday, July 31st. Raymond James Financial started coverage on shares of Stag Industrial in a research report on Wednesday, June 17th. They set an “outperform” rating and a $44.00 price objective for the company. Barclays increased their price objective on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Finally, Wells Fargo & Company cut their price target on shares of Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.50.

Stag Industrial Stock Performance

Shares of STAG stock opened at $36.76 on Friday. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 28.28 and a beta of 0.96. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.93. The business’s 50-day moving average price is $38.80 and its 200-day moving average price is $38.35. Stag Industrial, Inc. has a 12 month low of $34.33 and a 12 month high of $42.61.

Stag Industrial (NYSE:STAG) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.37). The firm had revenue of $224.37 million during the quarter, compared to analyst estimates of $223.04 million. Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. Equities research analysts forecast that Stag Industrial, Inc. will post 2.63 EPS for the current year.

Stag Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, September 30th. Stag Industrial’s dividend payout ratio is 119.23%.

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.