Wedge Capital Management L L P NC Sells 19,039 Shares of Stag Industrial, Inc. $STAG

Wedge Capital Management L L P NC decreased its stake in Stag Industrial, Inc. (NYSE:STAG) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,756 shares of the real estate investment trust’s stock after selling 19,039 shares during the period. Wedge Capital Management L L P NC’s holdings in Stag Industrial were worth $8,021,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Stag Industrial by 22.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,583 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 285 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Stag Industrial by 1.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,515 shares of the real estate investment trust’s stock valued at $1,122,000 after purchasing an additional 367 shares during the period. First National Trust Co increased its position in Stag Industrial by 1.7% during the 4th quarter. First National Trust Co now owns 23,166 shares of the real estate investment trust’s stock valued at $852,000 after purchasing an additional 388 shares during the period. Root Financial Partners LLC raised its holdings in Stag Industrial by 32.9% during the 4th quarter. Root Financial Partners LLC now owns 1,603 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 397 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in Stag Industrial by 1.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 30,042 shares of the real estate investment trust’s stock worth $1,083,000 after purchasing an additional 402 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Stag Industrial Price Performance

STAG stock opened at $36.93 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.76 and a quick ratio of 1.76. The company’s 50-day moving average is $38.82 and its 200-day moving average is $38.36. The stock has a market capitalization of $7.12 billion, a PE ratio of 28.41 and a beta of 0.96. Stag Industrial, Inc. has a 1 year low of $34.33 and a 1 year high of $42.61.

Stag Industrial (NYSE:STAG) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.37). Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. The firm had revenue of $224.37 million during the quarter, compared to the consensus estimate of $223.04 million. During the same period in the previous year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Stag Industrial, Inc. will post 2.63 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.3875 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.55 annualized dividend and a dividend yield of 4.2%. Stag Industrial’s payout ratio is currently 119.23%.

Wall Street Analysts Forecast Growth

STAG has been the topic of a number of analyst reports. Robert W. Baird set a $138.00 price objective on shares of Stag Industrial in a research note on Friday, July 31st. Wall Street Zen downgraded shares of Stag Industrial from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Stag Industrial in a report on Friday, July 31st. Evercore reaffirmed an “outperform” rating and set a $44.00 price target on shares of Stag Industrial in a research report on Wednesday, April 29th. Finally, Barclays increased their price target on Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Stag Industrial currently has an average rating of “Hold” and an average target price of $50.50.

About Stag Industrial

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.