First Republic Investment Management Inc. Acquires New Holdings in Stag Industrial Inc (STAG)
First Republic Investment Management Inc. acquired a new position in Stag Industrial Inc (NYSE:STAG) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,278 shares of the real estate investment trust’s stock, valued at approximately $362,000.
A number of other hedge funds have also modified their holdings of STAG. BlackRock Inc. lifted its position in Stag Industrial by 7.9% in the second quarter. BlackRock Inc. now owns 9,267,732 shares of the real estate investment trust’s stock worth $252,361,000 after purchasing an additional 675,981 shares during the period. Nuveen Asset Management LLC lifted its position in Stag Industrial by 0.6% in the first quarter. Nuveen Asset Management LLC now owns 4,304,612 shares of the real estate investment trust’s stock worth $102,966,000 after purchasing an additional 27,078 shares during the period. Westwood Holdings Group Inc. lifted its position in Stag Industrial by 28.8% in the first quarter. Westwood Holdings Group Inc. now owns 3,276,839 shares of the real estate investment trust’s stock worth $78,382,000 after purchasing an additional 733,050 shares during the period. Frontier Capital Management Co. LLC acquired a new stake in Stag Industrial in the second quarter worth approximately $45,939,000. Finally, Northern Trust Corp lifted its position in Stag Industrial by 4.7% in the first quarter. Northern Trust Corp now owns 1,652,684 shares of the real estate investment trust’s stock worth $39,532,000 after purchasing an additional 74,084 shares during the period. 84.40% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on STAG shares. JPMorgan Chase & Co. downgraded Stag Industrial from an “overweight” rating to a “neutral” rating and set a $27.00 target price for the company. in a research report on Friday, June 15th. UBS Group upped their target price on Stag Industrial from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, June 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.20.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Stag Industrial had a return on equity of 5.08% and a net margin of 19.24%. The company had revenue of $85.47 million during the quarter, compared to the consensus estimate of $84.32 million. equities research analysts expect that Stag Industrial Inc will post 1.79 EPS for the current year.
The business also recently disclosed a monthly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were given a dividend of $0.1183 per share. The ex-dividend date was Thursday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.25%. Stag Industrial’s dividend payout ratio (DPR) is presently 84.02%.
Stag Industrial Profile
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (?REIT?) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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