Oppenheimer Asset Management Inc. Takes $3.69 Million Position in Stag Industrial, Inc. $STAG

Oppenheimer Asset Management Inc. purchased a new stake in shares of Stag Industrial, Inc. (NYSE:STAG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 97,044 shares of the real estate investment trust’s stock, valued at approximately $3,693,000. Oppenheimer Asset Management Inc. owned about 0.05% of Stag Industrial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Stag Industrial by 1.5% in the 2nd quarter. State Street Corp now owns 9,539,842 shares of the real estate investment trust’s stock valued at $347,261,000 after buying an additional 142,132 shares during the last quarter. Norges Bank bought a new stake in Stag Industrial during the fourth quarter worth $295,644,000. Alliancebernstein L.P. raised its position in Stag Industrial by 4.3% during the second quarter. Alliancebernstein L.P. now owns 3,950,923 shares of the real estate investment trust’s stock worth $143,339,000 after acquiring an additional 162,887 shares in the last quarter. Geode Capital Management LLC lifted its stake in Stag Industrial by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,830,915 shares of the real estate investment trust’s stock valued at $140,851,000 after acquiring an additional 65,502 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Stag Industrial by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,418,556 shares of the real estate investment trust’s stock valued at $125,666,000 after acquiring an additional 120,460 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Stag Industrial Price Performance

Shares of NYSE STAG opened at $36.76 on Friday. The firm has a market cap of $7.09 billion, a P/E ratio of 28.28 and a beta of 0.96. The business’s 50 day moving average is $38.80 and its 200-day moving average is $38.35. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.93. Stag Industrial, Inc. has a 1-year low of $34.33 and a 1-year high of $42.61.

Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.37). The firm had revenue of $224.37 million during the quarter, compared to the consensus estimate of $223.04 million. Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. Equities research analysts predict that Stag Industrial, Inc. will post 2.63 earnings per share for the current year.

Stag Industrial Announces Dividend

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 $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Stag Industrial’s payout ratio is presently 119.23%.

Wall Street Analyst Weigh In

STAG has been the subject of a number of analyst reports. Raymond James Financial began coverage on shares of Stag Industrial in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 price objective for the company. Evercore reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Stag Industrial in a report on Wednesday, April 29th. Barclays raised their target price on shares of Stag Industrial from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Stag Industrial in a research report on Friday, July 31st. Finally, Wall Street Zen raised Stag Industrial from a “sell” rating to a “hold” rating in a research report on Sunday. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.50.

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.