King Luther Capital Management Corp decreased its holdings in shares of Stag Industrial, Inc. (NYSE:STAG) by 25.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,540 shares of the real estate investment trust’s stock after selling 39,205 shares during the quarter. King Luther Capital Management Corp owned approximately 0.13% of Stag Industrial worth $3,189,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in STAG. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Stag Industrial by 10.7% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,942 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 1,250 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Stag Industrial by 3.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 79,040 shares of the real estate investment trust’s stock valued at $1,978,000 after purchasing an additional 2,610 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Stag Industrial by 76.5% during the 1st quarter. Advisors Asset Management Inc. now owns 27,916 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 12,099 shares during the last quarter. American Century Companies Inc. lifted its holdings in Stag Industrial by 2,187.8% during the 1st quarter. American Century Companies Inc. now owns 415,984 shares of the real estate investment trust’s stock valued at $10,408,000 after purchasing an additional 397,801 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Stag Industrial by 45.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,400 shares of the real estate investment trust’s stock valued at $160,000 after purchasing an additional 2,000 shares during the last quarter. 81.25% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Peter S. Fearey sold 1,033 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $28.71, for a total transaction of $29,657.43. Following the sale, the executive vice president now directly owns 2,506 shares in the company, valued at approximately $71,947.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
Several equities research analysts have issued reports on STAG shares. ValuEngine raised Stag Industrial from a “hold” rating to a “buy” rating in a report on Friday, September 1st. UBS AG upgraded Stag Industrial from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $21.00 to $28.00 in a research report on Friday, September 8th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Stag Industrial in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. increased their price objective on Stag Industrial from $27.50 to $28.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of Stag Industrial in a research report on Sunday, June 25th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Stag Industrial has an average rating of “Buy” and a consensus target price of $27.56.
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Stag Industrial, Inc. (NYSE STAG) opened at 28.14 on Friday. The company has a 50 day moving average price of $27.69 and a 200-day moving average price of $26.77. Stag Industrial, Inc. has a 12 month low of $21.21 and a 12 month high of $28.95. The company has a market cap of $2.60 billion, a PE ratio of 105.00 and a beta of 1.21.
Stag Industrial (NYSE:STAG) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The company had revenue of $72.20 million for the quarter, compared to analyst estimates of $71.44 million. During the same period in the previous year, the company posted $0.38 EPS. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. Equities analysts predict that Stag Industrial, Inc. will post ($0.01) earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.1175 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.01%. Stag Industrial’s payout ratio is 503.57%.
Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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