Capital One Financial Corp. Upgrades Stag Industrial Inc. (STAG) to Overweight
Stag Industrial Inc. (NYSE:STAG) was upgraded by research analysts at Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating in a report issued on Friday. The brokerage presently has a $24.00 target price on the stock. Capital One Financial Corp.’s price objective would indicate a potential upside of 3.31% from the stock’s previous close.
A number of other equities research analysts have also issued reports on STAG. Jefferies Group reissued a “hold” rating and set a $22.00 target price on shares of Stag Industrial in a research note on Wednesday, July 6th. DA Davidson lifted their target price on shares of Stag Industrial from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Royal Bank Of Canada lifted their target price on shares of Stag Industrial from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. RBC Capital Markets reissued an “outperform” rating and set a $26.00 target price (up previously from $22.00) on shares of Stag Industrial in a research note on Friday, August 5th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $23.50 target price on shares of Stag Industrial in a research note on Monday, August 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Stag Industrial presently has an average rating of “Hold” and a consensus price target of $24.32.
Stag Industrial (NYSE:STAG) opened at 23.23 on Friday. Stag Industrial has a 52-week low of $14.97 and a 52-week high of $25.51. The stock’s market capitalization is $1.66 billion. The firm has a 50-day moving average of $23.86 and a 200-day moving average of $22.86.
Stag Industrial (NYSE:STAG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The company earned $60.24 million during the quarter, compared to analyst estimates of $54.24 million. Stag Industrial had a negative net margin of 9.21% and a negative return on equity of 3.09%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. On average, equities analysts expect that Stag Industrial will post $1.56 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Tuesday, November 15th. Investors 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 annualized dividend and a yield of 5.98%. Stag Industrial’s dividend payout ratio (DPR) is presently -272.55%.
In related news, CEO Benjamin S. Butcher acquired 2,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were bought 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 owns 72,088 shares in the company, valued at approximately $1,716,415.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Larry T. Guillemette acquired 10,500 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were bought at an average price of $24.91 per share, for a total transaction of $261,555.00. Following the acquisition, the director now owns 11,882 shares in the company, valued at approximately $295,980.62. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of STAG. BlackRock Institutional Trust Company N.A. increased its position in 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 last quarter. Monarch Partners Asset Management LLC increased its position in Stag Industrial by 17.1% in the second quarter. Monarch Partners Asset Management LLC now owns 830,400 shares of the company’s stock valued at $19,772,000 after buying an additional 121,160 shares during the last quarter. Prospera Financial Services Inc increased its position in Stag Industrial by 10.9% in the second quarter. Prospera Financial Services Inc now owns 18,745 shares of the company’s stock valued at $446,000 after buying an additional 1,845 shares during the last quarter. Aristotle Capital Boston LLC increased its position in Stag Industrial by 2.5% in the second quarter. Aristotle Capital Boston LLC now owns 219,109 shares of the company’s stock valued at $5,217,000 after buying an additional 5,272 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Stag Industrial during the second quarter valued at about $192,000. Institutional investors own 76.99% of the company’s stock.
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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