Stag Industrial, Inc. $STAG Shares Bought by Legal & General Group Plc

Legal & General Group Plc lifted its stake in Stag Industrial, Inc. (NYSE:STAG) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,129,875 shares of the real estate investment trust’s stock after acquiring an additional 57,075 shares during the period. Legal & General Group Plc’s holdings in Stag Industrial were worth $41,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Channing Capital Management LLC lifted its stake in shares of 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 worth $77,174,000 after acquiring an additional 167,093 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Stag Industrial in the 3rd quarter worth approximately $11,422,000. Versor Investments LP acquired a new stake in shares of Stag Industrial in the 3rd quarter worth approximately $922,000. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Stag Industrial in the 3rd quarter worth approximately $1,127,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Stag Industrial by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,495,511 shares of the real estate investment trust’s stock worth $52,778,000 after acquiring an additional 170,639 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Stag Industrial Stock Down 0.1%

NYSE STAG opened at $37.94 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.57 and a quick ratio of 1.57. The company’s 50 day simple moving average is $37.95 and its 200 day simple moving average is $38.10. Stag Industrial, Inc. has a 12 month low of $33.72 and a 12 month high of $39.99. The company has a market capitalization of $7.25 billion, a P/E ratio of 29.41 and a beta of 1.00.

Stag Industrial (NYSE:STAG) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $221.52 million. During the same period in the previous year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts expect that Stag Industrial, Inc. will post 2.63 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued 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 payout ratio is currently 120.16%.

Analyst Ratings Changes

A number of analysts recently commented on STAG shares. Barclays dropped their target price on shares of Stag Industrial from $39.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of Stag Industrial from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings downgraded shares of Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Evercore reiterated an “outperform” rating and issued a $44.00 target price on shares of Stag Industrial in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Stag Industrial from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Stag Industrial presently has a consensus rating of “Hold” and a consensus target price of $39.78.

About Stag Industrial

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.