Earnest Partners LLC purchased a new stake in shares of Stag Industrial Inc (NYSE:STAG) in the second quarter, HoldingsChannel reports. The firm purchased 3,362,883 shares of the real estate investment trust’s stock, valued at approximately $101,694,000.
Several other institutional investors and hedge funds also recently made changes to their positions in STAG. BlackRock Inc. boosted its stake in shares of Stag Industrial by 13.4% in the second quarter. BlackRock Inc. now owns 12,370,598 shares of the real estate investment trust’s stock valued at $374,085,000 after purchasing an additional 1,460,832 shares during the period. Northern Trust Corp lifted its stake in Stag Industrial by 66.1% in the second quarter. Northern Trust Corp now owns 2,750,894 shares of the real estate investment trust’s stock worth $83,187,000 after acquiring an additional 1,095,183 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Stag Industrial in the first quarter worth approximately $18,132,000. Russell Investments Group Ltd. lifted its stake in Stag Industrial by 132.2% in the second quarter. Russell Investments Group Ltd. now owns 993,206 shares of the real estate investment trust’s stock worth $30,021,000 after acquiring an additional 565,410 shares during the last quarter. Finally, Carlson Capital L P lifted its stake in Stag Industrial by 102.9% in the second quarter. Carlson Capital L P now owns 766,415 shares of the real estate investment trust’s stock worth $23,176,000 after acquiring an additional 388,615 shares during the last quarter. Institutional investors and hedge funds own 88.99% of the company’s stock.
In other Stag Industrial news, EVP Jeffrey M. Sullivan sold 35,815 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.37, for a total value of $1,051,886.55. Following the transaction, the executive vice president now directly owns 35,815 shares in the company, valued at approximately $1,051,886.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.
NYSE:STAG opened at $29.85 on Friday. Stag Industrial Inc has a fifty-two week low of $23.24 and a fifty-two week high of $31.66. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.72. The firm’s fifty day simple moving average is $29.26 and its 200-day simple moving average is $29.46. The stock has a market cap of $3.75 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 4.10 and a beta of 0.92.
Stag Industrial (NYSE:STAG) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.35). Stag Industrial had a return on equity of 4.57% and a net margin of 20.06%. The business had revenue of $96.65 million during the quarter, compared to analysts’ expectations of $97.90 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Stag Industrial’s quarterly revenue was up 13.1% on a year-over-year basis. Equities analysts anticipate that Stag Industrial Inc will post 1.82 earnings per share for the current year.
The company also recently announced a dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.119 dividend. The ex-dividend date of this dividend is Friday, September 27th. Stag Industrial’s dividend payout ratio (DPR) is 79.89%.
A number of research analysts recently issued reports on STAG shares. ValuEngine downgraded shares of Stag Industrial from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Zacks Investment Research cut shares of Stag Industrial from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $30.63.
Stag Industrial Company Profile
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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