Victory Capital Management Inc. lessened its stake in shares of STAG Industrial, Inc. (NYSE:STAG – Get Rating) by 2.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 934,822 shares of the real estate investment trust’s stock after selling 19,717 shares during the quarter. Victory Capital Management Inc. owned about 0.53% of STAG Industrial worth $38,436,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Confluence Wealth Services Inc. purchased a new position in STAG Industrial during the 4th quarter valued at about $26,000. UMB Bank N A MO purchased a new position in shares of STAG Industrial during the fourth quarter worth about $34,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of STAG Industrial during the first quarter worth about $35,000. USA Financial Portformulas Corp purchased a new position in shares of STAG Industrial during the fourth quarter worth about $39,000. Finally, Godsey & Gibb Associates purchased a new position in shares of STAG Industrial during the first quarter worth about $60,000. Hedge funds and other institutional investors own 84.18% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on STAG shares. Raymond James reissued a “maintains” rating on shares of STAG Industrial in a report on Friday. Jefferies Financial Group cut their price objective on STAG Industrial from $47.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Finally, Wells Fargo & Company cut their price objective on STAG Industrial from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, June 6th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.75.
STAG Industrial Stock Performance
STAG Industrial (NYSE:STAG – Get Rating) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.22). The firm had revenue of $159.21 million during the quarter, compared to the consensus estimate of $156.38 million. STAG Industrial had a return on equity of 6.62% and a net margin of 36.16%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, sell-side analysts predict that STAG Industrial, Inc. will post 2.17 earnings per share for the current fiscal year.
STAG Industrial Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a $0.1217 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.46 dividend on an annualized basis and a yield of 4.47%. STAG Industrial’s payout ratio is 114.06%.
STAG Industrial Company Profile
STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.
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