UBS AG upgraded shares of Stag Industrial, Inc. (NYSE:STAG) from a sell rating to a neutral rating in a research note issued to investors on Friday, www.flashratings.com reports. They currently have $28.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $21.00.
Several other brokerages also recently issued reports on STAG. ValuEngine raised Stag Industrial from a hold rating to a buy rating in a report on Friday, September 1st. Jefferies Group LLC reaffirmed a buy rating and set a $32.00 price target (up previously from $30.00) on shares of Stag Industrial in a report on Sunday, June 25th. Raymond James Financial, Inc. raised their price target on Stag Industrial from $27.50 to $28.50 and gave the company an outperform rating in a report on Wednesday, August 9th. BidaskClub downgraded Stag Industrial from a strong-buy rating to a buy rating in a report on Tuesday, June 20th. Finally, Ladenburg Thalmann Financial Services reissued a buy rating on shares of Stag Industrial in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $27.56.
Stag Industrial (STAG) opened at 28.62 on Friday. Stag Industrial has a 12 month low of $21.21 and a 12 month high of $28.95. The company’s 50-day moving average is $27.60 and its 200-day moving average is $26.70. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 106.79 and a beta of 1.21.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The business had revenue of $72.20 million during the quarter, compared to the consensus estimate of $71.44 million. During the same quarter last year, the firm posted $0.38 EPS. The company’s quarterly revenue was up 19.9% on a year-over-year basis. On average, equities research analysts anticipate that Stag Industrial will post ($0.01) earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Wednesday, November 29th. Stag Industrial’s dividend payout ratio is currently 503.57%.
Institutional investors and hedge funds have recently bought and sold shares of the company. TIAA CREF Investment Management LLC lifted its holdings in shares of Stag Industrial by 1.9% during the first quarter. TIAA CREF Investment Management LLC now owns 290,089 shares of the real estate investment trust’s stock worth $7,258,000 after buying an additional 5,417 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Stag Industrial during the first quarter worth $205,000. Teachers Advisors LLC increased its position in shares of Stag Industrial by 21.7% in the fourth quarter. Teachers Advisors LLC now owns 140,126 shares of the real estate investment trust’s stock worth $3,345,000 after purchasing an additional 24,955 shares during the period. Forsta AP Fonden increased its position in shares of Stag Industrial by 142.0% in the second quarter. Forsta AP Fonden now owns 36,300 shares of the real estate investment trust’s stock worth $1,002,000 after purchasing an additional 21,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Stag Industrial by 3.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 79,040 shares of the real estate investment trust’s stock worth $1,978,000 after purchasing an additional 2,610 shares during the period. 81.25% of the stock is owned by institutional investors.
About Stag Industrial
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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