Stag Industrial, Inc. (STAG) Shares Bought by Legal & General Group Plc
Legal & General Group Plc grew its position in Stag Industrial, Inc. (NYSE:STAG) by 21.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,051 shares of the real estate investment trust’s stock after purchasing an additional 39,625 shares during the period. Legal & General Group Plc owned approximately 0.26% of Stag Industrial worth $6,294,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning lifted its stake in shares of Stag Industrial by 140.4% in the 2nd quarter. Creative Planning now owns 4,341 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 2,535 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Stag Industrial by 45.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,400 shares of the real estate investment trust’s stock valued at $160,000 after purchasing an additional 2,000 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Stag Industrial by 3.4% in the 1st quarter. SG Americas Securities LLC now owns 6,587 shares of the real estate investment trust’s stock valued at $165,000 after purchasing an additional 215 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Stag Industrial in the 1st quarter valued at about $174,000. Finally, RFG Advisory Group LLC acquired a new position in shares of Stag Industrial in the 1st quarter valued at about $207,000. 81.25% of the stock is currently owned by institutional investors and hedge funds.
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Stag Industrial, Inc. (STAG) opened at 28.03 on Thursday. Stag Industrial, Inc. has a 52-week low of $21.21 and a 52-week high of $28.75. The company’s 50-day moving average price is $27.58 and its 200 day moving average price is $26.64. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 104.59 and a beta of 1.21.
Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $72.20 million during the quarter, compared to the consensus estimate of $71.44 million. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The firm’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS.
The business also recently declared a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.1175 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.41 annualized dividend and a dividend yield of 5.03%. Stag Industrial’s dividend payout ratio (DPR) is presently 503.57%.
STAG has been the topic of several research analyst reports. ValuEngine raised Stag Industrial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Stag Industrial in a research note on Sunday, June 25th. Raymond James Financial, Inc. lifted their price objective on Stag Industrial from $27.50 to $28.50 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. BidaskClub lowered Stag Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Stag Industrial in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Stag Industrial has a consensus rating of “Buy” and a consensus target price of $27.50.
Stag Industrial Profile
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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