11,911 Shares in Stag Industrial, Inc. (STAG) Acquired by Virtu KCG Holdings LLC
Virtu KCG Holdings LLC purchased a new position in shares of Stag Industrial, Inc. (NYSE:STAG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,911 shares of the real estate investment trust’s stock, valued at approximately $329,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of STAG. Vanguard Group Inc. raised its holdings in Stag Industrial by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 13,381,991 shares of the real estate investment trust’s stock worth $369,344,000 after purchasing an additional 691,105 shares during the last quarter. BlackRock Inc. raised its holdings in Stag Industrial by 1,758.0% during the 1st quarter. BlackRock Inc. now owns 8,449,687 shares of the real estate investment trust’s stock worth $211,412,000 after purchasing an additional 7,994,905 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Stag Industrial by 15.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,950,893 shares of the real estate investment trust’s stock worth $136,644,000 after purchasing an additional 646,968 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in Stag Industrial by 19.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,525,214 shares of the real estate investment trust’s stock worth $63,181,000 after purchasing an additional 409,970 shares during the last quarter. Finally, Brookfield Asset Management Inc. bought a new stake in Stag Industrial during the 1st quarter worth about $62,369,000. Institutional investors and hedge funds own 81.21% of the company’s stock.
Several analysts have weighed in on STAG shares. BidaskClub cut Stag Industrial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Jefferies Group LLC reissued a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Stag Industrial in a report on Sunday, June 25th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Stag Industrial in a report on Wednesday, August 2nd. Raymond James Financial, Inc. boosted their price objective on Stag Industrial from $27.50 to $28.50 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Finally, Evercore ISI raised Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $28.25.
In other news, EVP Peter S. Fearey sold 1,033 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $28.71, for a total transaction of $29,657.43. Following the completion of the transaction, the executive vice president now directly owns 2,506 shares in the company, valued at $71,947.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.
Shares of Stag Industrial, Inc. (NYSE STAG) opened at 27.98 on Wednesday. Stag Industrial, Inc. has a 52 week low of $21.21 and a 52 week high of $28.95. The stock has a 50 day moving average price of $28.02 and a 200-day moving average price of $27.23. The company has a market capitalization of $2.58 billion, a PE ratio of 104.40 and a beta of 1.19.
Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.41. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The company had revenue of $72.20 million during the quarter, compared to the consensus estimate of $71.44 million. During the same period last year, the company earned $0.38 earnings per share. The firm’s revenue was up 19.9% compared to the same quarter last year. Equities research analysts expect that Stag Industrial, Inc. will post ($0.01) EPS for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.1175 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.04%. Stag Industrial’s dividend payout ratio (DPR) is 503.57%.
Stag Industrial Profile
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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