Zacks Investment Research Upgrades Stag Industrial Inc. (STAG) to “Buy”
Stag Industrial Inc. (NYSE:STAG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $26.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 10.85% from the company’s current price.
According to Zacks, “STAG Industrial, Inc. operates as a real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States. STAG Industrial, Inc. is based in United States. “
A number of other research analysts have also recently issued reports on STAG. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $23.50 price target on shares of Stag Industrial in a report on Monday, August 22nd. Capital One Financial Corp. raised Stag Industrial from an “equal weight” rating to an “overweight” rating and set a $24.00 price objective for the company in a report on Friday, October 14th. Jefferies Group raised Stag Industrial from a “hold” rating to a “buy” rating in a report on Tuesday, November 15th. Robert W. Baird reissued an “outperform” rating and set a $26.00 price objective on shares of Stag Industrial in a report on Friday, August 26th. Finally, DA Davidson boosted their price objective on Stag Industrial from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $24.77.
Stag Industrial (NYSE:STAG) opened at 23.60 on Tuesday. The firm’s market capitalization is $1.78 billion. Stag Industrial has a one year low of $14.97 and a one year high of $25.51. The firm has a 50 day moving average of $22.80 and a 200 day moving average of $23.39.
Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.02. The company earned $62.60 million during the quarter, compared to analysts’ expectations of $11.01 million. Stag Industrial had a negative return on equity of 2.54% and a negative net margin of 7.25%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. Equities analysts forecast that Stag Industrial will post $1.56 EPS for the current year.
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In other Stag Industrial news, CEO Benjamin S. Butcher acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average cost of $23.81 per share, for a total transaction of $47,620.00. Following the transaction, the chief executive officer now owns 72,088 shares of the company’s stock, valued at $1,716,415.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry T. Guillemette acquired 10,500 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was acquired at an average price of $24.91 per share, with a total value of $261,555.00. Following the completion of the transaction, the director now directly owns 11,882 shares in the company, valued at approximately $295,980.62. The disclosure for this purchase can be found here. Insiders own 2.10% of the company’s stock.
Several institutional investors have recently modified their holdings of STAG. US Bancorp DE raised its position in shares of Stag Industrial by 20.9% in the third quarter. US Bancorp DE now owns 6,184 shares of the company’s stock valued at $152,000 after buying an additional 1,071 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Stag Industrial by 47.5% in the second quarter. Advisory Services Network LLC now owns 6,294 shares of the company’s stock valued at $150,000 after buying an additional 2,027 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Stag Industrial by 110.0% in the third quarter. BNP Paribas Arbitrage SA now owns 6,445 shares of the company’s stock valued at $158,000 after buying an additional 3,376 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Stag Industrial during the second quarter valued at about $192,000. Finally, ProShare Advisors LLC acquired a new position in shares of Stag Industrial during the second quarter valued at about $200,000. Institutional investors and hedge funds own 76.84% of the company’s stock.
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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