Emerald Acquisition Ltd. Purchases Shares of 181,386 Stag Industrial Inc. (STAG)
Emerald Acquisition Ltd. purchased a new position in Stag Industrial Inc. (NYSE:STAG) during the second quarter, according to its most recent disclosure with the SEC. The fund purchased 181,386 shares of the company’s stock, valued at approximately $4,319,000. Emerald Acquisition Ltd. owned about 0.27% of Stag Industrial as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. increased its position in Stag Industrial by 7.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,435,246 shares of the company’s stock worth $49,582,000 after buying an additional 158,650 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Stag Industrial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,403,671 shares of the company’s stock worth $48,939,000 after buying an additional 648,663 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Stag Industrial by 7.3% in the second quarter. GW&K Investment Management LLC now owns 2,012,957 shares of the company’s stock worth $47,929,000 after buying an additional 136,708 shares during the last quarter. Forward Management LLC boosted its stake in Stag Industrial by 0.9% in the first quarter. Forward Management LLC now owns 1,923,074 shares of the company’s stock worth $39,154,000 after buying an additional 16,974 shares during the last quarter. Finally, Kennedy Capital Management Inc. boosted its stake in Stag Industrial by 49.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,540,370 shares of the company’s stock worth $31,362,000 after buying an additional 507,814 shares during the last quarter. Hedge funds and other institutional investors own 77.29% of the company’s stock.
Shares of Stag Industrial Inc. (NYSE:STAG) traded up 1.42% during trading on Monday, reaching $23.60. The company had a trading volume of 342,888 shares. Stag Industrial Inc. has a 12 month low of $14.97 and a 12 month high of $25.51. The stock’s 50-day moving average price is $24.63 and its 200-day moving average price is $22.12. The stock’s market capitalization is $1.69 billion.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.38 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The firm earned $60.24 million during the quarter, compared to analyst estimates of $54.24 million. Stag Industrial had a negative return on equity of 3.09% and a negative net margin of 9.21%. Stag Industrial’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. Equities analysts forecast that Stag Industrial Inc. will post $1.56 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be issued a $0.1158 dividend. This represents a $1.39 annualized dividend and a yield of 5.89%. The ex-dividend date is Thursday, October 27th. Stag Industrial’s dividend payout ratio is currently -272.55%.
A number of analysts have weighed in on STAG shares. DA Davidson increased their price objective on Stag Industrial from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Capital One Financial Corp. cut Stag Industrial from an “overweight” rating to an “equal weight” rating and set a $21.00 price objective for the company. in a research report on Monday, July 18th. Jefferies Group reaffirmed a “hold” rating and set a $22.00 price objective on shares of Stag Industrial in a research report on Wednesday, July 6th. Evercore ISI cut Stag Industrial from a “buy” rating to a “hold” rating and increased their price objective for the stock from $22.50 to $23.00 in a research report on Monday, June 13th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $23.50 price objective on shares of Stag Industrial in a research report on Monday, August 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Stag Industrial has an average rating of “Hold” and an average price target of $24.00.
In other news, CEO Benjamin S. Butcher acquired 2,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was purchased at an average cost of $23.81 per share, with a total value of $47,620.00. Following the completion of the acquisition, the chief executive officer now directly owns 72,088 shares in the company, valued at $1,716,415.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is owned by corporate insiders.
About Stag Industrial
STAG Industrial, Inc is a real estate investment trust. The Company focuses on the acquisition and operation of single-tenant industrial properties across the United States. The Company owns approximately 290 buildings in over 40 states with approximately 54.7 million rentable square feet, consisting of over 220 warehouse/distribution buildings, approximately 50 light manufacturing buildings and over 20 flex/office buildings.
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