VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 79,092 Stag Industrial, Inc. $STAG

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Stag Industrial, Inc. (NYSE:STAG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 79,092 shares of the real estate investment trust’s stock, valued at approximately $3,010,000.

A number of other institutional investors also recently modified their holdings of STAG. Clearstead Advisors LLC grew its position in shares of Stag Industrial by 193.6% in the 4th quarter. Clearstead Advisors LLC now owns 731 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 482 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Stag Industrial in the third quarter worth $27,000. Ancora Advisors LLC bought a new stake in Stag Industrial in the second quarter valued at $28,000. Northwestern Mutual Wealth Management Co. purchased a new position in Stag Industrial during the 2nd quarter valued at $46,000. Finally, International Assets Investment Management LLC purchased a new position in Stag Industrial during the 4th quarter valued at $51,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on STAG shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stag Industrial in a research report on Friday, July 31st. Barclays boosted their price target on shares of Stag Industrial from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Raymond James Financial started coverage on shares of Stag Industrial in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 price target for the company. Wall Street Zen upgraded shares of Stag Industrial from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Robert W. Baird upgraded Stag Industrial from a “neutral” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Monday, August 31st. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.70.

Stag Industrial Stock Performance

Shares of Stag Industrial stock opened at $36.86 on Friday. Stag Industrial, Inc. has a 12 month low of $34.40 and a 12 month high of $42.61. The firm has a market capitalization of $7.11 billion, a P/E ratio of 28.35 and a beta of 0.95. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $38.33 and a two-hundred day simple moving average of $38.20.

Stag Industrial (NYSE:STAG) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.37). The business 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 quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. On average, equities analysts forecast that Stag Industrial, Inc. will post 2.63 earnings per share for the current fiscal year.

Stag Industrial Announces Dividend

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

Stag Industrial Profile

STAG Industrial, Inc is a real estate investment trust (REIT) that owns, operates and acquires industrial properties across the United States. The company primarily focuses on single-tenant facilities, including warehouses, distribution centers, manufacturing buildings and flex industrial properties.

STAG seeks to build a diversified portfolio by investing in properties used by businesses across a range of industries and serving multiple markets. Its properties support activities such as logistics, e-commerce fulfillment, manufacturing and product distribution.

Founded in 2010 and headquartered in Boston, Massachusetts, STAG Industrial became a publicly traded company in 2011.