Bessemer Group Inc. Raises Stake in Stag Industrial, Inc. $STAG

Bessemer Group Inc. grew its stake in shares of Stag Industrial, Inc. (NYSE:STAG) by 4.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 685,301 shares of the real estate investment trust’s stock after purchasing an additional 28,324 shares during the quarter. Bessemer Group Inc. owned approximately 0.37% of Stag Industrial worth $24,862,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in STAG. Nuveen LLC purchased a new stake in shares of Stag Industrial during the first quarter valued at $129,972,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Stag Industrial by 152.1% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,938,350 shares of the real estate investment trust’s stock valued at $70,013,000 after purchasing an additional 1,169,533 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Stag Industrial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock valued at $60,391,000 after acquiring an additional 451,355 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Stag Industrial by 606.8% in the first quarter. American Century Companies Inc. now owns 445,853 shares of the real estate investment trust’s stock valued at $16,104,000 after acquiring an additional 382,771 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Stag Industrial by 1.3% in the first quarter. Vanguard Group Inc. now owns 26,178,628 shares of the real estate investment trust’s stock valued at $945,572,000 after acquiring an additional 347,729 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Benjamin S. Butcher sold 25,000 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $36.91, for a total transaction of $922,750.00. Following the transaction, the director owned 7,562 shares in the company, valued at $279,113.42. This represents a 76.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Larry T. Guillemette sold 2,004 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $35.20, for a total transaction of $70,540.80. Following the transaction, the director owned 38,666 shares in the company, valued at approximately $1,361,043.20. This trade represents a 4.93% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Stag Industrial Stock Performance

STAG opened at $38.11 on Wednesday. Stag Industrial, Inc. has a 52-week low of $28.61 and a 52-week high of $39.01. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The company has a market cap of $7.11 billion, a P/E ratio of 30.01 and a beta of 0.92. The firm’s 50-day moving average price is $36.47 and its 200-day moving average price is $35.56.

Stag Industrial (NYSE:STAG) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The firm had revenue of $207.44 million for the quarter, compared to the consensus estimate of $206.37 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.1242 per share. The ex-dividend date is Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 3.9%. Stag Industrial’s dividend payout ratio is 117.32%.

Analysts Set New Price Targets

Several analysts recently weighed in on STAG shares. Cantor Fitzgerald started coverage on Stag Industrial in a report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective for the company. Industrial Alliance Securities set a $37.00 price objective on Stag Industrial in a report on Wednesday, October 1st. Evercore ISI lifted their price objective on Stag Industrial from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Stag Industrial in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.00.

Stag Industrial Company Profile

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.