David G. King Sells 30,000 Shares of Stag Industrial Inc (NYSE:STAG) Stock

Stag Industrial Inc (NYSE:STAG) Director David G. King sold 30,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $31.32, for a total transaction of $939,600.00. Following the completion of the sale, the director now owns 509 shares of the company’s stock, valued at approximately $15,941.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of STAG stock traded up $0.22 during trading hours on Friday, hitting $31.72. 823,500 shares of the company were exchanged, compared to its average volume of 784,500. The firm has a fifty day simple moving average of $31.04 and a 200 day simple moving average of $30.26. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.73. Stag Industrial Inc has a 52-week low of $25.88 and a 52-week high of $31.89. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 4.09 and a beta of 0.86.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.39). Stag Industrial had a return on equity of 4.35% and a net margin of 19.96%. The company had revenue of $102.42 million for the quarter, compared to analysts’ expectations of $100.78 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that Stag Industrial Inc will post 1.82 EPS for the current year.

The business also recently declared a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.44 annualized dividend and a dividend yield of 4.54%. Stag Industrial’s payout ratio is currently 79.89%.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Stag Industrial by 8.4% during the 2nd quarter. Vanguard Group Inc. now owns 17,633,398 shares of the real estate investment trust’s stock worth $533,235,000 after purchasing an additional 1,368,855 shares during the last quarter. BlackRock Inc. increased its stake in shares of Stag Industrial by 13.4% during the 2nd quarter. BlackRock Inc. now owns 12,370,598 shares of the real estate investment trust’s stock worth $374,085,000 after purchasing an additional 1,460,832 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Stag Industrial by 42.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,513,208 shares of the real estate investment trust’s stock worth $136,478,000 after purchasing an additional 1,346,514 shares during the last quarter. State Street Corp increased its stake in shares of Stag Industrial by 5.7% during the 3rd quarter. State Street Corp now owns 4,216,196 shares of the real estate investment trust’s stock worth $124,789,000 after purchasing an additional 226,131 shares during the last quarter. Finally, Earnest Partners LLC purchased a new stake in shares of Stag Industrial during the 2nd quarter worth approximately $101,694,000. Institutional investors own 92.93% of the company’s stock.

STAG has been the subject of several analyst reports. Royal Bank of Canada upgraded shares of Stag Industrial from an “outperform” rating to a “top pick” rating and increased their price objective for the company from $33.00 to $34.00 in a research note on Wednesday, December 18th. Zacks Investment Research upgraded shares of Stag Industrial from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. upgraded shares of Stag Industrial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $34.00 in a research note on Wednesday, December 18th. Finally, Wells Fargo & Co upgraded shares of Stag Industrial from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research note on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Stag Industrial has a consensus rating of “Buy” and an average target price of $32.83.

About Stag Industrial

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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