Cantor Fitzgerald Reiterates $24.00 Price Target for Stag Industrial Inc. (STAG)
Stag Industrial Inc. (NYSE:STAG) has been assigned a $24.00 price target by stock analysts at Cantor Fitzgerald in a research report issued on Thursday. The brokerage presently has a a “hold” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 5.91% from the stock’s previous close.
A number of other analysts have also issued reports on STAG. Jefferies Group reaffirmed a “hold” rating and set a $22.00 target price on shares of Stag Industrial in a research report on Wednesday, July 6th. Capital One Financial Corp. lowered Stag Industrial from an “overweight” rating to an “equal weight” rating and set a $21.00 target price on the stock. in a research report on Monday, July 18th. DA Davidson lifted their target price on Stag Industrial from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Royal Bank Of Canada lifted their target price on Stag Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $26.00 target price (up from $22.00) on shares of Stag Industrial in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.05.
Stag Industrial (NYSE:STAG) traded up 1.94% during mid-day trading on Thursday, reaching $23.10. The company’s stock had a trading volume of 521,267 shares. The stock’s 50-day moving average is $23.98 and its 200-day moving average is $22.77. The firm’s market capitalization is $1.65 billion. Stag Industrial has a 12 month low of $14.97 and a 12 month high of $25.51.
Stag Industrial (NYSE:STAG) last announced its earnings results on Tuesday, August 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.38. Stag Industrial had a negative return on equity of 3.09% and a negative net margin of 9.21%. The business had revenue of $60.24 million for the quarter, compared to analyst estimates of $54.24 million. During the same period in the previous year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities analysts anticipate that Stag Industrial will post $1.56 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be paid 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 6.13%. Stag Industrial’s payout ratio is currently -272.55%.
In other Stag Industrial news, Director Larry T. Guillemette acquired 10,500 shares of Stag Industrial stock in a transaction dated Monday, September 26th. The stock was acquired at an average cost of $24.91 per share, for a total transaction of $261,555.00. Following the completion of the transaction, the director now owns 11,882 shares in the company, valued at approximately $295,980.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Benjamin S. Butcher bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were purchased at an average cost of $23.81 per share, for a total transaction of $47,620.00. Following the acquisition, the chief executive officer now owns 72,088 shares of the company’s stock, valued at $1,716,415.28. The disclosure for this purchase can be found here. 2.10% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. GW&K Investment Management LLC boosted its stake in shares of Stag Industrial by 7.3% in the second quarter. GW&K Investment Management LLC now owns 2,012,957 shares of the company’s stock valued at $47,929,000 after buying an additional 136,708 shares during the last quarter. Spirit of America Management Corp NY purchased a new stake in shares of Stag Industrial during the second quarter valued at approximately $210,000. Barclays PLC boosted its stake in shares of Stag Industrial by 8.4% in the first quarter. Barclays PLC now owns 62,732 shares of the company’s stock valued at $1,254,000 after buying an additional 4,855 shares during the last quarter. Aristotle Capital Boston LLC boosted its stake in shares of Stag Industrial by 3.9% in the first quarter. Aristotle Capital Boston LLC now owns 213,837 shares of the company’s stock valued at $4,354,000 after buying an additional 8,037 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Stag Industrial by 8.5% in the first quarter. Legal & General Group Plc now owns 135,920 shares of the company’s stock valued at $2,763,000 after buying an additional 10,654 shares during the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.
Stag Industrial Company Profile
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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