Public Employees Retirement System of Ohio Acquires New Position in Stag Industrial, Inc. $STAG

Public Employees Retirement System of Ohio acquired a new stake in Stag Industrial, Inc. (NYSE:STAG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 280,105 shares of the real estate investment trust’s stock, valued at approximately $10,661,000.

A number of other institutional investors have also modified their holdings of the stock. Pacific Heights Asset Management LLC raised its position in Stag Industrial by 25.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the real estate investment trust’s stock valued at $18,380,000 after purchasing an additional 100,000 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Stag Industrial during the 2nd quarter worth $3,693,000. Bessemer Group Inc. increased its stake in shares of Stag Industrial by 8.0% during the fourth quarter. Bessemer Group Inc. now owns 834,733 shares of the real estate investment trust’s stock valued at $30,684,000 after buying an additional 61,675 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Stag Industrial during the first quarter valued at $3,444,000. Finally, Geode Capital Management LLC raised its holdings in shares of Stag Industrial by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,830,915 shares of the real estate investment trust’s stock valued at $140,851,000 after acquiring an additional 65,502 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Stag Industrial Stock Up 0.1%

Shares of STAG stock opened at $37.21 on Tuesday. The stock’s fifty day moving average price is $38.55 and its 200 day moving average price is $38.25. Stag Industrial, Inc. has a 1-year low of $34.40 and a 1-year high of $42.61. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 28.62 and a beta of 0.96. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.76 and a quick ratio of 1.76.

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

Stag Industrial Announces Dividend

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

Analyst Upgrades and Downgrades

STAG has been the subject of a number of research reports. Raymond James Financial began coverage on shares of Stag Industrial in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Stag Industrial in a report on Friday, July 31st. Barclays upped their price target on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. Robert W. Baird upgraded shares of Stag Industrial from a “neutral” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Monday. Finally, Wells Fargo & Company cut their price objective on shares of Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Stag Industrial currently has an average rating of “Hold” and a consensus target price of $40.90.

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.