Renaissance Technologies LLC Acquires Shares of 95,500 Stag Industrial, Inc. $STAG

Renaissance Technologies LLC bought a new position in Stag Industrial, Inc. (NYSE:STAG) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 95,500 shares of the real estate investment trust’s stock, valued at approximately $3,444,000.

Other hedge funds have also recently made changes to their positions in the company. Clearstead Advisors LLC lifted its holdings 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 valued at $27,000 after acquiring an additional 482 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Stag Industrial during the third quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new stake in Stag Industrial during the fourth quarter valued at approximately $51,000. EverSource Wealth Advisors LLC raised its position in Stag Industrial by 270.1% during 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 period. Finally, Root Financial Partners LLC lifted its stake in shares of Stag Industrial by 32.9% in the 4th quarter. Root Financial Partners LLC now owns 1,603 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 397 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on STAG. Wall Street Zen cut Stag Industrial from a “hold” rating to a “sell” rating in a report on Saturday. Barclays raised their price target on Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. Evercore reaffirmed an “outperform” rating and set a $44.00 price objective on shares of Stag Industrial in a research note on Wednesday, April 29th. Wells Fargo & Company cut their price objective on shares of 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. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Stag Industrial in a research note on Friday, July 31st. Three research 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.50.

Stag Industrial Trading Up 1.3%

Shares of NYSE STAG opened at $37.28 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.76 and a current ratio of 1.76. The business’s 50 day moving average price is $38.80 and its 200-day moving average price is $38.36. Stag Industrial, Inc. has a fifty-two week low of $34.18 and a fifty-two week high of $42.61. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 28.68 and a beta of 0.96.

Stag Industrial (NYSE:STAG) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.37). The business had revenue of $224.37 million for the quarter, compared to analysts’ expectations of $223.04 million. Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. Stag Industrial’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. On average, sell-side analysts expect that Stag Industrial, Inc. will post 2.63 earnings per share for the current year.

Stag Industrial Dividend Announcement

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

Stag Industrial 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.