Bank of New York Mellon Corp Invests $58.80 Million in Stag Industrial, Inc. $STAG

Bank of New York Mellon Corp acquired a new position in shares of Stag Industrial, Inc. (NYSE:STAG) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,545,049 shares of the real estate investment trust’s stock, valued at approximately $58,805,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of STAG. State Street Corp boosted its stake in Stag Industrial by 1.5% during the second quarter. State Street Corp now owns 9,539,842 shares of the real estate investment trust’s stock worth $347,261,000 after buying an additional 142,132 shares during the period. Norges Bank purchased a new stake in shares of Stag Industrial in the 4th quarter valued at approximately $295,644,000. Alliancebernstein L.P. lifted its holdings in shares of Stag Industrial by 4.3% in the 2nd 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Stag Industrial by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,830,915 shares of the real estate investment trust’s stock worth $140,851,000 after acquiring an additional 65,502 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Stag Industrial by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,418,556 shares of the real estate investment trust’s stock worth $125,666,000 after purchasing an additional 120,460 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Stag Industrial Trading Up 0.4%

NYSE:STAG opened at $37.26 on Thursday. The firm has a market cap of $7.18 billion, a P/E ratio of 28.66 and a beta of 0.96. 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 12-month low of $34.40 and a 12-month high of $42.61. The stock’s 50 day simple moving average is $38.61 and its 200-day simple moving average is $38.30.

Stag Industrial (NYSE:STAG) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 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 analyst estimates of $223.04 million. Stag Industrial had a return on equity of 6.79% and a net margin of 28.04%.The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Equities analysts anticipate that Stag Industrial, Inc. will post 2.63 EPS for the current year.

Stag Industrial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, September 30th. Stag Industrial’s payout ratio is presently 119.23%.

Analyst Ratings Changes

Several analysts recently weighed in on STAG shares. Raymond James Financial started coverage on shares of Stag Industrial in a report on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 target price for the company. Barclays boosted their target price on Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Evercore reaffirmed an “outperform” rating and issued a $44.00 price target on shares of Stag Industrial in a research report on Wednesday, April 29th. Wall Street Zen lowered shares of Stag Industrial from a “hold” rating to a “sell” rating in a report on Monday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Stag Industrial in a research note on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Stag Industrial currently has a consensus rating of “Hold” and a consensus target price of $50.50.

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.