Stag Industrial (NYSE:STAG) Issues Earnings Results, Misses Expectations By $0.37 EPS

Stag Industrial (NYSE:STAG) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.37), FiscalAI reports. The company had revenue of $224.37 million during the quarter, compared to analysts’ expectations of $223.04 million. Stag Industrial had a net margin of 28.25% and a return on equity of 6.80%. Stag Industrial’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share.

Stag Industrial Stock Performance

STAG opened at $39.96 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.87. Stag Industrial has a 12-month low of $33.72 and a 12-month high of $42.61. The firm has a 50 day moving average of $38.85 and a two-hundred day moving average of $38.36. The firm has a market capitalization of $7.64 billion, a PE ratio of 31.23 and a beta of 0.97.

Stag Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.3875 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.55 dividend on an annualized basis and a yield of 3.9%. Stag Industrial’s dividend payout ratio (DPR) is currently 120.16%.

Institutional Trading of Stag Industrial

A number of hedge funds and other institutional investors have recently made changes to their positions in STAG. Measured Wealth Private Client Group LLC acquired a new position in Stag Industrial during the third quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its holdings in Stag Industrial by 270.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 1,048 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Stag Industrial by 76.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 764 shares during the period. Empowered Funds LLC acquired a new stake in Stag Industrial during the 4th quarter worth about $70,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Stag Industrial by 160.4% during the 4th quarter. Advisors Asset Management Inc. now owns 1,919 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 1,182 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on STAG. Wells Fargo & Company cut their target price on Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Weiss Ratings downgraded shares of Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Raymond James Financial assumed coverage on shares of Stag Industrial in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 target price for the company. Evercore restated an “outperform” rating and set a $44.00 price target on shares of Stag Industrial in a research note on Wednesday, April 29th. Finally, Barclays boosted their price objective on shares of Stag Industrial from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, July 16th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.70.

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.