Bank of New York Mellon Corp Increases Stock Position in Stag Industrial, Inc. $STAG

Bank of New York Mellon Corp grew its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 2.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,694,014 shares of the real estate investment trust’s stock after buying an additional 32,479 shares during the quarter. Bank of New York Mellon Corp’s holdings in Stag Industrial were worth $61,459,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Stag Industrial by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 26,178,628 shares of the real estate investment trust’s stock valued at $945,572,000 after purchasing an additional 347,729 shares during the period. Earnest Partners LLC lifted its stake in Stag Industrial by 0.7% in the first quarter. Earnest Partners LLC now owns 3,820,565 shares of the real estate investment trust’s stock valued at $137,999,000 after buying an additional 25,140 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Stag Industrial by 3.3% in the first quarter. Alliancebernstein L.P. now owns 3,788,036 shares of the real estate investment trust’s stock valued at $136,824,000 after acquiring an additional 120,442 shares during the period. Nuveen LLC purchased a new position in shares of Stag Industrial during the first quarter worth approximately $129,972,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Stag Industrial by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,212,192 shares of the real estate investment trust’s stock valued at $116,024,000 after acquiring an additional 87,659 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Stag Industrial Trading Up 1.0%

Shares of Stag Industrial stock opened at $38.99 on Monday. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 29.99 and a beta of 0.95. Stag Industrial, Inc. has a 52-week low of $28.61 and a 52-week high of $39.01. The company’s 50-day simple moving average is $36.79 and its 200-day simple moving average is $35.92. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Stag Industrial had a net margin of 29.24% and a return on equity of 6.82%. The firm had revenue of $211.12 million during the quarter, compared to the consensus estimate of $210.26 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.1242 per share. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. Stag Industrial’s dividend payout ratio is currently 114.62%.

Insiders Place Their Bets

In other Stag Industrial news, Director Larry T. Guillemette sold 2,004 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $35.20, for a total value of $70,540.80. Following the completion of the transaction, the director owned 38,666 shares in the company, valued at approximately $1,361,043.20. This represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Chase sold 13,144 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $38.75, for a total value of $509,330.00. Following the completion of the sale, the executive vice president directly owned 9,422 shares of the company’s stock, valued at approximately $365,102.50. This trade represents a 58.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 40,148 shares of company stock worth $1,502,621. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

STAG has been the subject of a number of recent research reports. Industrial Alliance Securities set a $37.00 price target on shares of Stag Industrial in a research note on Wednesday, October 1st. Robert W. Baird upped their target price on shares of Stag Industrial from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Cantor Fitzgerald initiated coverage on Stag Industrial in a report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price target on the stock. Evercore ISI upped their price objective on Stag Industrial from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Wall Street Zen cut Stag Industrial from a “hold” rating to a “sell” rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.86.

About Stag Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.