Westpac Banking Corp Buys 21,615 Shares of Stag Industrial Inc. (STAG)
Westpac Banking Corp increased its stake in Stag Industrial Inc. (NYSE:STAG) by 13.7% during the second quarter, Holdings Channel reports. The institutional investor owned 179,504 shares of the company’s stock after buying an additional 21,615 shares during the period. Westpac Banking Corp owned 0.25% of Stag Industrial worth $4,274,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. raised its position in shares of Stag Industrial by 7.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,435,246 shares of the company’s stock valued at $49,582,000 after buying an additional 158,650 shares during the period. Norges Bank acquired a new position in shares of Stag Industrial during the fourth quarter valued at about $11,652,000. Motley Fool Wealth Management LLC raised its position in shares of Stag Industrial by 10.9% in the first quarter. Motley Fool Wealth Management LLC now owns 197,367 shares of the company’s stock valued at $4,018,000 after buying an additional 19,464 shares during the period. Sigma Planning Corp acquired a new position in shares of Stag Industrial during the second quarter valued at about $291,000. Finally, BlackRock Group LTD raised its position in shares of Stag Industrial by 3.3% in the first quarter. BlackRock Group LTD now owns 1,046,746 shares of the company’s stock valued at $21,311,000 after buying an additional 33,580 shares during the period. Institutional investors own 76.97% of the company’s stock.
Stag Industrial Inc. (NYSE:STAG) opened at 24.70 on Friday. The company’s market cap is $1.76 billion. Stag Industrial Inc. has a 52 week low of $14.97 and a 52 week high of $25.51. The company has a 50-day moving average of $24.37 and a 200-day moving average of $22.34.
Stag Industrial (NYSE:STAG) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.38 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.38. The company earned $60.24 million during the quarter, compared to the consensus estimate of $54.24 million. Stag Industrial had a negative net margin of 9.21% and a negative return on equity of 3.09%. Stag Industrial’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. On average, equities research analysts predict that Stag Industrial Inc. will post $1.56 EPS for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be issued a $0.1158 dividend. The ex-dividend date is Thursday, October 27th. This represents a $1.39 dividend on an annualized basis and a yield of 5.63%. Stag Industrial’s payout ratio is -272.55%.
STAG has been the subject of several recent analyst reports. Jefferies Group restated a “hold” rating and set a $22.00 target price on shares of Stag Industrial in a research report on Wednesday, July 6th. Cantor Fitzgerald restated a “hold” rating and set a $23.50 target price on shares of Stag Industrial in a research report on Monday, August 22nd. Robert W. Baird restated an “outperform” rating and set a $26.00 target price on shares of Stag Industrial in a research report on Friday, August 26th. Evercore ISI lowered Stag Industrial from a “buy” rating to a “hold” rating and boosted their target price for the company from $22.50 to $23.00 in a research report on Monday, June 13th. Finally, Capital One Financial Corp. lowered Stag Industrial from an “overweight” rating to an “equal weight” rating and set a $21.00 target price for the company. in a research report on Monday, July 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $24.00.
In other news, CEO Benjamin S. Butcher purchased 2,000 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was acquired at an average price of $23.81 per share, for a total transaction of $47,620.00. Following the acquisition, the chief executive officer now directly owns 72,088 shares of the company’s stock, valued at $1,716,415.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by company insiders.
About Stag Industrial
STAG Industrial, Inc is a real estate investment trust. The Company focuses on the acquisition and operation of single-tenant industrial properties across the United States. The Company owns approximately 290 buildings in over 40 states with approximately 54.7 million rentable square feet, consisting of over 220 warehouse/distribution buildings, approximately 50 light manufacturing buildings and over 20 flex/office buildings.
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