Royal Bank of Canada boosted its holdings in Stag Industrial Inc (NYSE:STAG) by 27.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 621,450 shares of the real estate investment trust’s stock after acquiring an additional 134,591 shares during the period. Royal Bank of Canada owned 0.49% of Stag Industrial worth $18,793,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Verition Fund Management LLC acquired a new stake in shares of Stag Industrial during the 2nd quarter worth about $737,000. Walleye Trading LLC acquired a new stake in shares of Stag Industrial during the 2nd quarter worth about $411,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Stag Industrial by 18.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 82,295 shares of the real estate investment trust’s stock worth $2,487,000 after purchasing an additional 12,899 shares during the last quarter. Phocas Financial Corp. acquired a new stake in shares of Stag Industrial during the 2nd quarter worth about $9,432,000. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in shares of Stag Industrial by 21.1% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 57,849 shares of the real estate investment trust’s stock worth $1,749,000 after purchasing an additional 10,098 shares during the last quarter. 89.21% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Jeffrey M. Sullivan sold 35,815 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.37, for a total transaction of $1,051,886.55. Following the transaction, the executive vice president now directly owns 35,815 shares in the company, valued at approximately $1,051,886.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.35). The company had revenue of $96.65 million for the quarter, compared to analysts’ expectations of $97.90 million. Stag Industrial had a return on equity of 4.57% and a net margin of 20.06%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. Analysts expect that Stag Industrial Inc will post 1.82 earnings per share for the current fiscal year.
The business also recently disclosed a dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.119 per share. The ex-dividend date of this dividend is Friday, September 27th. Stag Industrial’s payout ratio is currently 79.89%.
STAG has been the topic of several analyst reports. Zacks Investment Research raised shares of Stag Industrial from a “sell” rating to a “hold” rating in a research note on Friday. ValuEngine cut shares of Stag Industrial from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Stag Industrial has an average rating of “Hold” and a consensus price target of $30.63.
Stag Industrial Profile
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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