Forward Management LLC Reduces Position in Stag Industrial, Inc. (STAG)
Forward Management LLC cut its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 776,606 shares of the real estate investment trust’s stock after selling 31,000 shares during the quarter. Stag Industrial comprises 2.4% of Forward Management LLC’s investment portfolio, making the stock its 15th biggest holding. Forward Management LLC owned approximately 0.84% of Stag Industrial worth $21,334,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in STAG. San Francisco Sentry Investment Group CA bought a new stake in Stag Industrial during the second quarter valued at about $117,000. Creative Planning raised its position in Stag Industrial by 140.4% during the second quarter. Creative Planning now owns 4,341 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 2,535 shares during the period. SG Americas Securities LLC raised its position in Stag Industrial by 3.4% during the first quarter. SG Americas Securities LLC now owns 6,587 shares of the real estate investment trust’s stock valued at $165,000 after purchasing an additional 215 shares during the period. Verition Fund Management LLC purchased a new stake in Stag Industrial during the second quarter valued at approximately $200,000. Finally, Federated Investors Inc. PA purchased a new stake in Stag Industrial during the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 81.07% of the company’s stock.
STAG has been the topic of a number of recent research reports. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Stag Industrial in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. increased their price target on Stag Industrial from $27.50 to $28.50 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Evercore ISI upgraded Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, August 14th. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 price objective (up previously from $31.00) on shares of Stag Industrial in a research note on Tuesday, August 22nd. Finally, ValuEngine raised Stag Industrial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $28.25.
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Shares of Stag Industrial, Inc. (NYSE STAG) traded down $0.13 during trading on Monday, hitting $28.49. The company had a trading volume of 225,396 shares, compared to its average volume of 401,594. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.62. Stag Industrial, Inc. has a 1 year low of $21.21 and a 1 year high of $28.95. The stock has a market cap of $2,692.64, a price-to-earnings ratio of 17.14, a PEG ratio of 3.27 and a beta of 1.24.
Stag Industrial (NYSE:STAG) last issued its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $78.14 million for the quarter, compared to analysts’ expectations of $76.17 million. Stag Industrial had a return on equity of 5.72% and a net margin of 18.96%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. sell-side analysts anticipate that Stag Industrial, Inc. will post 1.67 earnings per share for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.1183 per share. This represents a $1.42 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Tuesday, February 27th. Stag Industrial’s dividend payout ratio is currently 261.12%.
In other Stag Industrial news, EVP Peter S. Fearey sold 1,033 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $28.71, for a total value of $29,657.43. Following the sale, the executive vice president now owns 2,506 shares of the company’s stock, valued at $71,947.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.
Stag Industrial Profile
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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