JPMorgan Chase & Co. Sells 19,995 Shares of Stag Industrial, Inc. (STAG)
JPMorgan Chase & Co. lowered its stake in shares of Stag Industrial, Inc. (NYSE:STAG) by 15.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,778 shares of the real estate investment trust’s stock after selling 19,995 shares during the quarter. JPMorgan Chase & Co. owned about 0.11% of Stag Industrial worth $2,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of STAG. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Stag Industrial by 0.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,045 shares of the real estate investment trust’s stock valued at $360,000 after buying an additional 103 shares during the last quarter. SG Americas Securities LLC raised its stake in Stag Industrial by 3.4% in the first quarter. SG Americas Securities LLC now owns 6,587 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 215 shares during the last quarter. US Bancorp DE raised its stake in Stag Industrial by 4.3% in the first quarter. US Bancorp DE now owns 10,315 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 423 shares during the last quarter. Spirit of America Management Corp NY raised its stake in Stag Industrial by 2.5% in the second quarter. Spirit of America Management Corp NY now owns 20,500 shares of the real estate investment trust’s stock valued at $566,000 after buying an additional 500 shares during the last quarter. Finally, Amalgamated Bank raised its stake in Stag Industrial by 5.9% in the first quarter. Amalgamated Bank now owns 9,892 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 549 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors.
STAG has been the subject of a number of research analyst reports. ValuEngine upgraded Stag Industrial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Stag Industrial in a research note on Sunday, June 25th. Raymond James Financial, Inc. increased their price target on Stag Industrial from $27.50 to $28.50 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. UBS AG upgraded Stag Industrial from a “sell” rating to a “neutral” rating and increased their price target for the company from $21.00 to $28.00 in a research note on Friday, September 8th. Finally, BidaskClub cut Stag Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Stag Industrial currently has an average rating of “Buy” and an average target price of $27.64.
In other news, EVP Peter S. Fearey sold 1,033 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $28.71, for a total value of $29,657.43. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.
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Stag Industrial, Inc. (NYSE:STAG) opened at 28.05 on Thursday. The stock has a market capitalization of $2.59 billion, a PE ratio of 104.66 and a beta of 1.19. Stag Industrial, Inc. has a 52 week low of $21.21 and a 52 week high of $28.95. The stock has a 50 day moving average price of $28.02 and a 200 day moving average price of $27.16.
Stag Industrial (NYSE:STAG) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The business had revenue of $72.20 million during the quarter, compared to the consensus estimate of $71.44 million. During the same period in the previous year, the business earned $0.38 EPS. The business’s quarterly revenue was up 19.9% on a year-over-year basis. Equities analysts forecast that Stag Industrial, Inc. will post ($0.01) EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.1175 dividend. This represents a $1.41 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Wednesday, November 29th. Stag Industrial’s payout ratio is currently 503.57%.
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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