Harvest Portfolios Group Inc. Sells 18,030 Shares of Stag Industrial, Inc. $STAG

Harvest Portfolios Group Inc. cut its holdings in shares of Stag Industrial, Inc. (NYSE:STAG) by 28.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,932 shares of the real estate investment trust’s stock after selling 18,030 shares during the period. Harvest Portfolios Group Inc.’s holdings in Stag Industrial were worth $1,652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Handelsbanken Fonder AB increased its position in shares of Stag Industrial by 1.3% during the fourth quarter. Handelsbanken Fonder AB now owns 54,202 shares of the real estate investment trust’s stock worth $1,992,000 after acquiring an additional 700 shares in the last quarter. Cascade Financial Partners LLC increased its position in shares of Stag Industrial by 39.8% during the fourth quarter. Cascade Financial Partners LLC now owns 41,301 shares of the real estate investment trust’s stock worth $1,518,000 after acquiring an additional 11,750 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Stag Industrial by 48.1% during the fourth quarter. TD Private Client Wealth LLC now owns 16,047 shares of the real estate investment trust’s stock worth $590,000 after acquiring an additional 5,210 shares in the last quarter. Aegis Wealth Management Inc. bought a new stake in shares of Stag Industrial during the fourth quarter worth about $1,607,000. Finally, Pacific Heights Asset Management LLC increased its position in shares of Stag Industrial by 25.0% during the fourth quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the real estate investment trust’s stock worth $18,380,000 after acquiring an additional 100,000 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

Stag Industrial Stock Up 1.5%

Stag Industrial stock opened at $38.28 on Thursday. Stag Industrial, Inc. has a fifty-two week low of $33.72 and a fifty-two week high of $39.99. The stock has a market cap of $7.32 billion, a PE ratio of 29.67 and a beta of 1.00. The firm’s 50-day simple moving average is $37.96 and its 200 day simple moving average is $38.12. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.57 and a current ratio of 1.57.

Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. Stag Industrial had a net margin of 28.25% and a return on equity of 6.80%. The business had revenue of $224.21 million for the quarter, compared to analysts’ expectations of $221.52 million. During the same period in the previous year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts predict that Stag Industrial, Inc. will post 2.63 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, June 30th. Stag Industrial’s payout ratio is presently 120.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on STAG shares. Barclays decreased their target price on shares of Stag Industrial from $39.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their price target on shares of Stag Industrial from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Robert W. Baird set a $40.00 price target on shares of Stag Industrial in a report on Tuesday, February 17th. Weiss Ratings cut shares of Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Finally, Evercore restated an “outperform” rating and set a $44.00 price target on shares of Stag Industrial in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $39.78.

Insider Transactions at Stag Industrial

In other Stag Industrial news, EVP Matts Pinard sold 25,242 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $39.18, for a total value of $988,981.56. Following the transaction, the executive vice president directly owned 951 shares in the company, valued at $37,260.18. The trade was a 96.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Crooker sold 93,732 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $39.17, for a total transaction of $3,671,482.44. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.

Stag Industrial Company Profile

Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company’s portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.

Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.