State of New Jersey Common Pension Fund D increased its position in Stag Industrial, Inc. (NYSE:STAG) by 12.3% during the second quarter, Holdings Channel reports. The institutional investor owned 365,500 shares of the real estate investment trust’s stock after buying an additional 40,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Stag Industrial were worth $10,088,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of STAG. Vanguard Group Inc. raised its position in Stag Industrial by 12.0% in the first quarter. Vanguard Group Inc. now owns 12,690,886 shares of the real estate investment trust’s stock valued at $317,526,000 after buying an additional 1,364,728 shares during the period. BlackRock Inc. raised its position in Stag Industrial by 1,758.0% in the first quarter. BlackRock Inc. now owns 8,449,687 shares of the real estate investment trust’s stock valued at $211,412,000 after buying an additional 7,994,905 shares during the period. Bank of New York Mellon Corp raised its position in Stag Industrial by 36.1% in the first quarter. Bank of New York Mellon Corp now owns 4,303,925 shares of the real estate investment trust’s stock valued at $107,683,000 after buying an additional 1,142,675 shares during the period. Massachusetts Financial Services Co. MA raised its position in Stag Industrial by 18.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,623,228 shares of the real estate investment trust’s stock valued at $65,632,000 after buying an additional 407,966 shares during the period. Finally, Westwood Holdings Group Inc. raised its position in Stag Industrial by 19.4% in the first quarter. Westwood Holdings Group Inc. now owns 2,525,214 shares of the real estate investment trust’s stock valued at $63,181,000 after buying an additional 409,970 shares during the period. 74.44% of the stock is currently owned by institutional investors and hedge funds.

Stag Industrial, Inc. (STAG) opened at 26.76 on Thursday. The firm has a market cap of $2.47 billion, a P/E ratio of 99.85 and a beta of 1.22. Stag Industrial, Inc. has a 1-year low of $21.21 and a 1-year high of $28.75. The firm has a 50-day moving average of $27.35 and a 200 day moving average of $26.08.

Stag Industrial (NYSE:STAG) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Stag Industrial had a net margin of 12.22% and a return on equity of 3.97%. The company had revenue of $72.20 million during the quarter, compared to the consensus estimate of $71.44 million. During the same quarter in the previous year, the firm earned $0.38 EPS. The company’s revenue was up 19.9% on a year-over-year basis. On average, analysts predict that Stag Industrial, Inc. will post ($0.04) EPS for the current year.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date is Wednesday, November 29th. Stag Industrial’s dividend payout ratio is presently 503.57%.

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STAG has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 target price (up previously from $30.00) on shares of Stag Industrial in a report on Sunday, June 25th. Cantor Fitzgerald reissued a “hold” rating and issued a $25.00 target price on shares of Stag Industrial in a report on Tuesday, May 2nd. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Stag Industrial in a report on Wednesday, May 3rd. Raymond James Financial, Inc. increased their target price on Stag Industrial from $27.50 to $28.50 and gave the company an “outperform” rating in a report on Wednesday. Finally, BidaskClub lowered Stag Industrial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $26.93.

About Stag Industrial

STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.

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Institutional Ownership by Quarter for Stag Industrial (NYSE:STAG)

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