Freestone Grove Partners LP Takes Position in Stag Industrial, Inc. $STAG

Freestone Grove Partners LP purchased a new position in Stag Industrial, Inc. (NYSE:STAG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,247 shares of the real estate investment trust’s stock, valued at approximately $656,000.

A number of other large investors also recently modified their holdings of the company. Pacific Heights Asset Management LLC lifted its stake in Stag Industrial by 25.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the real estate investment trust’s stock worth $18,380,000 after purchasing an additional 100,000 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Stag Industrial during the 2nd quarter valued at $3,693,000. Bessemer Group Inc. grew its position in shares of Stag Industrial by 8.0% during the 4th quarter. Bessemer Group Inc. now owns 834,733 shares of the real estate investment trust’s stock valued at $30,684,000 after purchasing an additional 61,675 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Stag Industrial in the first quarter worth $3,444,000. Finally, Bank of America Corp DE increased its holdings in shares of Stag Industrial by 8.0% in the first quarter. Bank of America Corp DE now owns 1,500,536 shares of the real estate investment trust’s stock worth $54,109,000 after purchasing an additional 111,001 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Stag Industrial Price Performance

Shares of NYSE:STAG opened at $37.19 on Monday. The company’s fifty day moving average price is $38.58 and its 200-day moving average price is $38.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 28.61 and a beta of 0.96. Stag Industrial, Inc. has a one year low of $34.40 and a one year 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 (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.37). The company had revenue of $224.37 million during the quarter, compared to analysts’ expectations of $223.04 million. Stag Industrial had a return on equity of 6.79% and a net margin of 28.04%.The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. On average, equities research analysts anticipate that Stag Industrial, Inc. will post 2.63 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.3875 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.55 annualized dividend and a yield of 4.2%. Stag Industrial’s payout ratio is 119.23%.

Wall Street Analysts Forecast Growth

STAG has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Wall Street Zen cut Stag Industrial from a “hold” rating to a “sell” rating in a research report on Monday, August 24th. Robert W. Baird set a $138.00 target price on Stag Industrial in a research note on Friday, July 31st. Raymond James Financial assumed coverage on Stag Industrial in a report on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Stag Industrial in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.50.

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.