Stag Industrial’s (STAG) “Buy” Rating Reaffirmed at Jefferies Group LLC
Stag Industrial, Inc. (NYSE:STAG)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a research report issued to clients and investors on Tuesday. They currently have a $32.00 target price on the real estate investment trust’s stock. Jefferies Group LLC’s target price suggests a potential upside of 14.74% from the company’s current price.
Other research analysts have also issued reports about the company. BidaskClub lowered Stag Industrial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Evercore ISI raised Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price objective on the stock in a report on Monday, August 14th. Raymond James Financial, Inc. upped their price objective on Stag Industrial from $27.50 to $28.50 and gave the company an “outperform” rating in a report on Wednesday, August 9th. UBS AG raised Stag Industrial from a “sell” rating to a “neutral” rating and upped their price objective for the company from $21.00 to $28.00 in a report on Friday, September 8th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Stag Industrial in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $27.56.
Shares of Stag Industrial (NYSE:STAG) opened at 27.89 on Tuesday. Stag Industrial has a 1-year low of $21.21 and a 1-year high of $28.95. The firm has a market cap of $2.57 billion, a P/E ratio of 104.07 and a beta of 1.21. The firm’s 50-day moving average is $27.75 and its 200-day moving average is $26.81.
Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The firm had revenue of $72.20 million for the quarter, compared to analyst estimates of $71.44 million. During the same period in the prior year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, analysts anticipate that Stag Industrial will post ($0.01) EPS for the current fiscal year.
In other news, EVP Peter S. Fearey sold 1,033 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $28.71, for a total transaction of $29,657.43. Following the sale, the executive vice president now directly owns 2,506 shares of the company’s stock, valued at approximately $71,947.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. grew its holdings in shares of Stag Industrial by 7.3% during the 2nd quarter. Brookfield Asset Management Inc. now owns 2,674,778 shares of the real estate investment trust’s stock worth $73,824,000 after purchasing an additional 181,999 shares in the last quarter. Phocas Financial Corp. lifted its position in shares of Stag Industrial by 2.9% during the 2nd quarter. Phocas Financial Corp. now owns 23,609 shares of the real estate investment trust’s stock worth $652,000 after buying an additional 666 shares during the last quarter. WFG Advisors LP lifted its position in shares of Stag Industrial by 10,100.0% during the 2nd quarter. WFG Advisors LP now owns 8,160 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 8,080 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Stag Industrial during the 2nd quarter worth $200,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Stag Industrial by 13.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,846 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 903 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors.
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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