New York State Common Retirement Fund Purchases 58,958 Shares of Stag Industrial, Inc. $STAG

New York State Common Retirement Fund increased its position in Stag Industrial, Inc. (NYSE:STAG) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,111,531 shares of the real estate investment trust’s stock after purchasing an additional 58,958 shares during the quarter. New York State Common Retirement Fund owned approximately 0.60% of Stag Industrial worth $39,226,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of STAG. Norges Bank acquired a new stake in shares of Stag Industrial in the second quarter valued at approximately $282,893,000. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Stag Industrial by 82.3% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,533,588 shares of the real estate investment trust’s stock valued at $128,199,000 after purchasing an additional 1,595,238 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Stag Industrial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock valued at $60,391,000 after purchasing an additional 451,355 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Stag Industrial by 57.0% in the second quarter. Prudential Financial Inc. now owns 1,147,243 shares of the real estate investment trust’s stock valued at $41,622,000 after purchasing an additional 416,415 shares during the period. Finally, Hudson Bay Capital Management LP lifted its stake in shares of Stag Industrial by 120.0% during the 2nd quarter. Hudson Bay Capital Management LP now owns 747,958 shares of the real estate investment trust’s stock worth $27,136,000 after buying an additional 407,910 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Insider Activity

In other news, EVP Michael Chase sold 13,144 shares of Stag Industrial stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $38.75, for a total value of $509,330.00. Following the transaction, the executive vice president owned 9,422 shares in the company, valued at approximately $365,102.50. This trade represents a 58.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Stag Industrial Trading Up 0.6%

Shares of Stag Industrial stock opened at $37.50 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.89. Stag Industrial, Inc. has a 12-month low of $28.61 and a 12-month high of $39.73. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 28.85 and a beta of 1.06. The firm’s 50-day moving average price is $37.74 and its two-hundred day moving average price is $36.94.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $211.12 million during the quarter, compared to the consensus estimate of $210.26 million. Stag Industrial had a net margin of 29.24% and a return on equity of 6.84%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 EPS. On average, analysts forecast that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Stag Industrial’s dividend payout ratio (DPR) is currently 114.62%.

Wall Street Analysts Forecast Growth

STAG has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of Stag Industrial from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Wall Street Zen cut Stag Industrial from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Stag Industrial in a research report on Monday, December 22nd. Industrial Alliance Securities set a $39.00 price target on shares of Stag Industrial in a research report on Tuesday, January 13th. Finally, Barclays reissued an “underweight” rating and issued a $39.00 price objective (down previously from $40.00) on shares of Stag Industrial in a report on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Stag Industrial currently has an average rating of “Hold” and an average price target of $39.33.

Stag Industrial Company Profile

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.