State Board of Administration of Florida Retirement System continued to hold its stake in shares of Stag Industrial Inc (NYSE:STAG) during the fourth quarter, Holdings Channel reports. The firm owned 39,434 shares of the company’s stock at the end of the fourth quarter. State Board of Administration of Florida Retirement System’s holdings in Stag Industrial were worth $941,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of STAG. Hall Laurie J Trustee acquired a new stake in shares of Stag Industrial during the fourth quarter worth about $104,000. US Bancorp DE raised its stake in shares of Stag Industrial by 20.9% in the third quarter. US Bancorp DE now owns 6,184 shares of the company’s stock worth $152,000 after buying an additional 1,071 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Stag Industrial by 0.6% in the third quarter. Advisory Services Network LLC now owns 6,332 shares of the company’s stock worth $155,000 after buying an additional 38 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of Stag Industrial by 5.1% in the third quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 8,466 shares of the company’s stock worth $208,000 after buying an additional 414 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Stag Industrial during the third quarter worth about $219,000. Institutional investors and hedge funds own 77.41% of the company’s stock.
Stag Industrial Inc (NYSE:STAG) opened at 25.04 on Friday. Stag Industrial Inc has a 12-month low of $19.31 and a 12-month high of $26.24. The company has a market cap of $2.05 billion, a P/E ratio of 87.25 and a beta of 1.15. The firm’s 50 day moving average is $24.70 and its 200 day moving average is $23.74.
Stag Industrial (NYSE:STAG) last issued its earnings results on Thursday, February 16th. The company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.47. Stag Industrial had a negative return on equity of 2.54% and a negative net margin of 7.25%. The company earned $66.50 million during the quarter, compared to the consensus estimate of $55.68 million. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that Stag Industrial Inc will post ($0.10) EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 28th will be paid a dividend of $0.1167 per share. The ex-dividend date of this dividend is Wednesday, April 26th. This represents a $1.40 annualized dividend and a dividend yield of 5.59%. Stag Industrial’s dividend payout ratio is currently -304.35%.
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A number of equities research analysts have issued reports on STAG shares. Zacks Investment Research upgraded Stag Industrial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Thursday, December 8th. Jefferies Group LLC raised shares of Stag Industrial from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, December 1st. Finally, Royal Bank of Canada reissued a “buy” rating and set a $26.00 price objective on shares of Stag Industrial in a report on Friday, March 17th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Stag Industrial presently has a consensus rating of “Buy” and a consensus target price of $25.25.
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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