Stag Industrial (NYSE:STAG) Rating Increased to Moderate Buy at Raymond James Financial

Raymond James Financial upgraded shares of Stag Industrial (NYSE:STAG) to a moderate buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

STAG has been the subject of a number of other research reports. Robert W. Baird set a $40.00 price target on Stag Industrial in a research report on Tuesday, February 17th. Weiss Ratings lowered Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Wells Fargo & Company reduced their price objective on Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Barclays decreased their target price on Stag Industrial from $39.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. upped their target price on Stag Industrial from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.40.

Stag Industrial Trading Up 1.5%

Shares of Stag Industrial stock opened at $37.81 on Wednesday. The firm’s 50 day simple moving average is $38.26 and its two-hundred day simple moving average is $37.96. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 29.31 and a beta of 0.98. Stag Industrial has a 12-month low of $33.72 and a 12-month high of $39.99. 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 (NYSE:STAG) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.23 by $0.09. Stag Industrial had a net margin of 28.25% and a return on equity of 6.80%. The business had revenue of $224.21 million during the quarter, compared to the consensus estimate of $221.51 million. During the same period in the previous year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts predict that Stag Industrial will post 2.63 EPS for the current year.

Stag Industrial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.3875 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.1%. Stag Industrial’s dividend payout ratio (DPR) is presently 120.16%.

Institutional Trading of Stag Industrial

Hedge funds have recently modified their holdings of the stock. Channing Capital Management LLC raised its position in Stag Industrial by 8.3% in the 3rd quarter. Channing Capital Management LLC now owns 2,186,846 shares of the real estate investment trust’s stock valued at $77,174,000 after purchasing an additional 167,093 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Stag Industrial in the 3rd quarter valued at about $11,422,000. JPMorgan Chase & Co. grew its position in shares of Stag Industrial by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 1,495,511 shares of the real estate investment trust’s stock worth $52,778,000 after buying an additional 170,639 shares in the last quarter. Elo Mutual Pension Insurance Co purchased a new stake in shares of Stag Industrial during the third quarter worth approximately $1,897,000. Finally, Exchange Traded Concepts LLC raised its holdings in Stag Industrial by 98.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 90,618 shares of the real estate investment trust’s stock valued at $3,331,000 after acquiring an additional 44,921 shares in 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 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.