Virginia Retirement Systems ET AL Sells 28,600 Shares of Stag Industrial Inc (STAG)
Virginia Retirement Systems ET AL lowered its position in shares of Stag Industrial Inc (NYSE:STAG) by 57.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,200 shares of the real estate investment trust’s stock after selling 28,600 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Stag Industrial were worth $582,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in Stag Industrial by 15.8% in the third quarter. Legal & General Group Plc now owns 264,194 shares of the real estate investment trust’s stock valued at $7,259,000 after purchasing an additional 36,143 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in Stag Industrial by 12.8% in the third quarter. Eagle Asset Management Inc. now owns 619,220 shares of the real estate investment trust’s stock valued at $17,319,000 after purchasing an additional 70,491 shares during the last quarter. ETRADE Capital Management LLC bought a new stake in Stag Industrial in the third quarter valued at about $1,188,000. American International Group Inc. increased its holdings in Stag Industrial by 8.1% in the third quarter. American International Group Inc. now owns 59,928 shares of the real estate investment trust’s stock valued at $1,646,000 after purchasing an additional 4,481 shares during the last quarter. Finally, Texas Yale Capital Corp. increased its holdings in Stag Industrial by 10.2% in the third quarter. Texas Yale Capital Corp. now owns 45,200 shares of the real estate investment trust’s stock valued at $1,242,000 after purchasing an additional 4,200 shares during the last quarter. Institutional investors own 82.08% of the company’s stock.
Stag Industrial Inc (NYSE:STAG) traded up $0.28 during mid-day trading on Monday, hitting $28.00. The stock had a trading volume of 427,200 shares, compared to its average volume of 691,453. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $2,634.31, a PE ratio of 16.77, a P/E/G ratio of 3.09 and a beta of 1.25. Stag Industrial Inc has a 52 week low of $22.64 and a 52 week high of $28.95.
Stag Industrial (NYSE:STAG) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. Stag Industrial had a return on equity of 5.72% and a net margin of 18.96%. The firm had revenue of $78.14 million during the quarter, compared to analysts’ expectations of $76.17 million. During the same period in the prior year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. sell-side analysts anticipate that Stag Industrial Inc will post 1.68 earnings per share for the current fiscal 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 given a dividend of $0.1183 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.42 annualized dividend and a yield of 5.07%. Stag Industrial’s dividend payout ratio (DPR) is presently 261.12%.
A number of equities research analysts recently commented on STAG shares. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Stag Industrial in a report on Friday, November 3rd. ValuEngine upgraded Stag Industrial from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub upgraded Stag Industrial from a “strong sell” rating to a “sell” rating in a report on Saturday, November 4th. UBS upgraded Stag Industrial from a “sell” rating to a “neutral” rating and increased their price target for the stock from $21.00 to $28.00 in a report on Friday, September 8th. Finally, Jefferies Group restated a “buy” rating and issued a $32.00 price target (up from $31.00) on shares of Stag Industrial in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Stag Industrial has an average rating of “Buy” and a consensus price target of $28.25.
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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