Corient Private Wealth LP Buys New Stake in Stag Industrial, Inc. $STAG

Corient Private Wealth LP purchased a new position in Stag Industrial, Inc. (NYSE:STAG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 46,340 shares of the real estate investment trust’s stock, valued at approximately $1,764,000.

Several other hedge funds and other institutional investors have also made changes to their positions in STAG. BlackRock Inc. purchased a new position in shares of Stag Industrial during the second quarter valued at about $1,097,126,000. State Street Corp lifted its position in shares of Stag Industrial by 1.5% in the second quarter. State Street Corp now owns 9,539,842 shares of the real estate investment trust’s stock worth $347,261,000 after buying an additional 142,132 shares in the last quarter. Norges Bank bought a new position in Stag Industrial during the fourth quarter valued at approximately $295,644,000. Alliancebernstein L.P. boosted its stake in Stag Industrial by 4.3% during the second quarter. Alliancebernstein L.P. now owns 3,950,923 shares of the real estate investment trust’s stock valued at $143,339,000 after buying an additional 162,887 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Stag Industrial by 1.7% during the 4th 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 buying an additional 65,502 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Raymond James Financial started coverage on Stag Industrial in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 price objective on the stock. Barclays boosted 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. Wall Street Zen downgraded shares of Stag Industrial from a “hold” rating to a “sell” rating in a research note on Monday, August 24th. Wells Fargo & Company dropped their price objective on shares of Stag Industrial from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Robert W. Baird upgraded shares of Stag Industrial from a “neutral” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Monday. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.70.

Stag Industrial Stock Up 0.6%

NYSE STAG opened at $37.66 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average of $38.47 and a two-hundred day moving average of $38.24. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 28.97 and a beta of 0.95. Stag Industrial, Inc. has a 52 week low of $34.40 and a 52 week high of $42.61.

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

Stag Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, September 30th. Stag Industrial’s dividend payout ratio is presently 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.