Stag Industrial, Inc. $STAG Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Stag Industrial, Inc. (NYSE:STAG) by 12.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,495,511 shares of the real estate investment trust’s stock after buying an additional 170,639 shares during the quarter. JPMorgan Chase & Co.’s holdings in Stag Industrial were worth $52,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in Stag Industrial by 17.6% in the 1st quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 1,491 shares during the period. Goldman Sachs Group Inc. raised its stake in Stag Industrial by 37.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock worth $60,391,000 after purchasing an additional 451,355 shares during the period. Empowered Funds LLC acquired a new position in shares of Stag Industrial in the 1st quarter valued at $229,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Stag Industrial by 2.0% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 206,515 shares of the real estate investment trust’s stock worth $7,492,000 after purchasing an additional 4,019 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of Stag Industrial by 4.3% during the 2nd quarter. Bessemer Group Inc. now owns 685,301 shares of the real estate investment trust’s stock worth $24,862,000 after purchasing an additional 28,324 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on STAG shares. Royal Bank Of Canada boosted their price objective on shares of Stag Industrial from $38.00 to $42.00 and gave the company a “sector perform” rating in a report on Thursday, November 6th. Citigroup lifted their target price on shares of Stag Industrial from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Barclays restated an “underweight” rating and set a $39.00 price target (down from $40.00) on shares of Stag Industrial in a research note on Tuesday, January 13th. Evercore reiterated an “outperform” rating on shares of Stag Industrial in a report on Friday, February 13th. Finally, Wells Fargo & Company increased their target price on Stag Industrial from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Three investment 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $39.50.

Insider Transactions at Stag Industrial

In related news, CEO William R. Crooker sold 93,732 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $39.17, for a total value of $3,671,482.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matts Pinard sold 25,242 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $39.18, for a total value of $988,981.56. Following the completion of the transaction, the executive vice president owned 951 shares of the company’s stock, valued at approximately $37,260.18. This represents a 96.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 136,974 shares of company stock worth $5,345,904. Company insiders own 1.10% of the company’s stock.

Stag Industrial Stock Down 0.5%

Shares of Stag Industrial stock opened at $38.57 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $37.78 and a 200 day moving average of $37.39. The company has a market capitalization of $7.37 billion, a P/E ratio of 26.42 and a beta of 1.06. Stag Industrial, Inc. has a 52-week low of $28.61 and a 52-week high of $39.98.

Stag Industrial (NYSE:STAG) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $220.90 million during the quarter, compared to analysts’ expectations of $213.66 million. Stag Industrial had a return on equity of 7.68% and a net margin of 32.35%.The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, research analysts forecast that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, March 31st. Stag Industrial’s payout ratio is 102.05%.

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.