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.
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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