Stag Industrial, Inc. (STAG) Holdings Lessened by Symphony Asset Management LLC
Symphony Asset Management LLC reduced its holdings in Stag Industrial, Inc. (NYSE:STAG) by 36.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,242 shares of the real estate investment trust’s stock after selling 7,437 shares during the quarter. Symphony Asset Management LLC’s holdings in Stag Industrial were worth $366,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. TIAA CREF Investment Management LLC grew its holdings in shares of Stag Industrial by 1.9% during the first quarter. TIAA CREF Investment Management LLC now owns 290,089 shares of the real estate investment trust’s stock worth $7,258,000 after buying an additional 5,417 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Stag Industrial during the first quarter worth about $205,000. Forsta AP Fonden grew its holdings in shares of Stag Industrial by 142.0% during the second quarter. Forsta AP Fonden now owns 36,300 shares of the real estate investment trust’s stock worth $1,002,000 after buying an additional 21,300 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Stag Industrial by 3.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 79,040 shares of the real estate investment trust’s stock worth $1,978,000 after buying an additional 2,610 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Stag Industrial by 22.2% during the second quarter. American Century Companies Inc. now owns 508,398 shares of the real estate investment trust’s stock worth $14,032,000 after buying an additional 92,414 shares in the last quarter. Institutional investors own 81.25% of the company’s stock.
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 transaction of $29,657.43. Following the completion of the sale, the executive vice president now directly owns 2,506 shares of the company’s stock, valued at approximately $71,947.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
Stag Industrial, Inc. (STAG) opened at 28.14 on Friday. The firm has a market capitalization of $2.60 billion, a PE ratio of 105.00 and a beta of 1.21. Stag Industrial, Inc. has a 12 month low of $21.21 and a 12 month high of $28.95. The company’s 50-day moving average price is $27.69 and its 200 day moving average price is $26.77.
Stag Industrial (NYSE:STAG) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The business had revenue of $72.20 million during the quarter, compared to analyst estimates of $71.44 million. During the same period in the previous year, the company posted $0.38 EPS. The firm’s revenue was up 19.9% compared to the same quarter last year. On average, equities research analysts predict that Stag Industrial, Inc. will post ($0.01) earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Wednesday, November 29th. Stag Industrial’s dividend payout ratio is currently 503.57%.
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STAG has been the subject of a number of research reports. BidaskClub downgraded Stag Industrial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Jefferies Group LLC reiterated a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Stag Industrial in a report on Sunday, June 25th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Stag Industrial in a report on Wednesday, August 2nd. Raymond James Financial, Inc. increased their price objective on Stag Industrial from $27.50 to $28.50 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Finally, Evercore ISI upgraded Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Monday, August 14th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Stag Industrial has a consensus rating of “Buy” and an average target price of $27.56.
Stag Industrial Company 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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