Stag Industrial (NYSE:STAG) Hits New 52-Week High – What’s Next?

Stag Industrial, Inc. (NYSE:STAG)’s share price reached a new 52-week high on Monday . The stock traded as high as $38.46 and last traded at $38.54, with a volume of 2398 shares trading hands. The stock had previously closed at $38.18.

Analysts Set New Price Targets

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

Stag Industrial Price Performance

The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 30.38 and a beta of 0.92. The stock’s 50 day moving average price is $36.12 and its two-hundred day moving average price is $35.27. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

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

Stag Industrial Announces Dividend

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

Insider Buying and Selling

In other news, Director Larry T. Guillemette sold 2,004 shares of Stag Industrial stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $35.20, for a total transaction of $70,540.80. Following the completion of the transaction, the director directly owned 38,666 shares of the company’s stock, valued at $1,361,043.20. The trade was a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin S. Butcher sold 25,000 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $36.91, for a total transaction of $922,750.00. Following the sale, the director directly owned 7,562 shares in the company, valued at $279,113.42. This trade represents a 76.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stag Industrial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its position in Stag Industrial by 8.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,255 shares of the real estate investment trust’s stock worth $587,000 after acquiring an additional 1,295 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Stag Industrial by 4.7% during the first quarter. Janney Montgomery Scott LLC now owns 12,711 shares of the real estate investment trust’s stock worth $459,000 after purchasing an additional 571 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Stag Industrial by 2.5% during the first quarter. Retirement Systems of Alabama now owns 227,072 shares of the real estate investment trust’s stock worth $8,202,000 after purchasing an additional 5,517 shares in the last quarter. PFG Investments LLC lifted its stake in Stag Industrial by 5.4% in the 1st quarter. PFG Investments LLC now owns 8,302 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 429 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Stag Industrial by 4.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 99,760 shares of the real estate investment trust’s stock worth $3,603,000 after buying an additional 4,141 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.