Insider Selling: Stag Industrial Inc (STAG) CEO Sells 68,180 Shares of Stock
Stag Industrial Inc (NYSE:STAG) CEO Benjamin S. Butcher sold 68,180 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $26.41, for a total transaction of $1,800,633.80. Following the transaction, the chief executive officer now owns 140,268 shares of the company’s stock, valued at approximately $3,704,477.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Stag Industrial Inc (NYSE STAG) traded down $0.18 during midday trading on Tuesday, hitting $26.23. 674,162 shares of the stock traded hands, compared to its average volume of 569,716. The firm has a market capitalization of $2,470.00, a price-to-earnings ratio of 47.69, a price-to-earnings-growth ratio of 2.70 and a beta of 1.26. 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 12 month low of $22.70 and a 12 month high of $28.95.
Stag Industrial (NYSE:STAG) last posted its quarterly earnings data 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 company had revenue of $78.14 million during the quarter, compared to analyst estimates of $76.17 million. Stag Industrial had a net margin of 18.96% and a return on equity of 5.72%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. research analysts expect that Stag Industrial Inc will post 1.68 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a $0.1183 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date is Tuesday, February 27th. Stag Industrial’s dividend payout ratio is currently 256.36%.
Several analysts have recently weighed in on the stock. BidaskClub lowered shares of Stag Industrial from a “hold” rating to a “sell” rating in a report on Friday, October 6th. TheStreet lowered shares of Stag Industrial from a “b-” rating to a “c+” rating in a report on Tuesday, December 19th. Jefferies Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Stag Industrial in a report on Tuesday, September 26th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Stag Industrial in a report on Friday, November 3rd. Finally, JPMorgan Chase & Co. raised shares of Stag Industrial from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Friday, December 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Stag Industrial presently has a consensus rating of “Buy” and a consensus target price of $28.50.
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Stag Industrial by 5.4% in the second quarter. Vanguard Group Inc. now owns 13,381,991 shares of the real estate investment trust’s stock valued at $369,344,000 after purchasing an additional 691,105 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Stag Industrial by 4.5% in the third quarter. Bank of New York Mellon Corp now owns 5,171,435 shares of the real estate investment trust’s stock valued at $142,059,000 after purchasing an additional 220,542 shares in the last quarter. Brookfield Asset Management Inc. increased its holdings in shares of Stag Industrial by 7.3% in the second quarter. Brookfield Asset Management Inc. now owns 2,674,778 shares of the real estate investment trust’s stock valued at $73,824,000 after purchasing an additional 181,999 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Stag Industrial by 2.7% in the third quarter. Wedge Capital Management L L P NC now owns 2,169,600 shares of the real estate investment trust’s stock valued at $59,599,000 after purchasing an additional 57,601 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Stag Industrial by 11.9% in the second quarter. State Street Corp now owns 1,895,836 shares of the real estate investment trust’s stock valued at $52,324,000 after purchasing an additional 200,955 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.
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About Stag Industrial
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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