Rhumbline Advisers Trims Holdings in Stag Industrial, Inc. $STAG

Rhumbline Advisers decreased its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 535,145 shares of the real estate investment trust’s stock after selling 23,644 shares during the period. Rhumbline Advisers owned 0.29% of Stag Industrial worth $18,885,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of STAG. Knights of Columbus Asset Advisors LLC purchased a new position in shares of Stag Industrial during the third quarter valued at about $1,127,000. Wolverine Asset Management LLC boosted its stake in Stag Industrial by 408.0% during the third quarter. Wolverine Asset Management LLC now owns 129,263 shares of the real estate investment trust’s stock valued at $4,562,000 after buying an additional 103,820 shares during the last quarter. Versor Investments LP purchased a new position in Stag Industrial during the 3rd quarter valued at approximately $922,000. New York State Common Retirement Fund grew its holdings in Stag Industrial by 5.6% during the 3rd quarter. New York State Common Retirement Fund now owns 1,111,531 shares of the real estate investment trust’s stock valued at $39,226,000 after buying an additional 58,958 shares in the last quarter. Finally, Pacific Heights Asset Management LLC increased its stake in Stag Industrial by 33.3% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the real estate investment trust’s stock worth $14,116,000 after acquiring an additional 100,000 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STAG. Robert W. Baird set a $40.00 target price on Stag Industrial in a research report on Tuesday. Evercore reissued an “outperform” rating on shares of Stag Industrial in a research note on Friday. Barclays restated an “underweight” rating and set a $39.00 target price (down from $40.00) on shares of Stag Industrial in a research report on Tuesday, January 13th. Wall Street Zen upgraded Stag Industrial from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Royal Bank Of Canada boosted their price objective on Stag Industrial from $38.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 6th. Three 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.44.

Stag Industrial Price Performance

Stag Industrial stock opened at $38.37 on Wednesday. Stag Industrial, Inc. has a 12-month low of $28.61 and a 12-month high of $39.88. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average price of $37.66 and a 200-day moving average price of $37.23. The firm has a market capitalization of $7.33 billion, a PE ratio of 26.28 and a beta of 1.06.

Stag Industrial (NYSE:STAG) last posted its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $220.90 million for the quarter, compared to analyst estimates of $213.66 million. Stag Industrial had a net margin of 32.35% and a return on equity of 7.68%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. As a group, equities research analysts forecast that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Announces Dividend

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 paid a $0.3875 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.55 dividend on an annualized basis and a yield of 4.0%. Stag Industrial’s dividend payout ratio (DPR) is presently 102.05%.

Stag Industrial 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.