Sanctuary Advisors LLC Acquires New Stake in Stag Industrial, Inc. $STAG

Sanctuary Advisors LLC bought a new position in shares of Stag Industrial, Inc. (NYSE:STAG) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 22,098 shares of the real estate investment trust’s stock, valued at approximately $841,000.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Stag Industrial in the second quarter valued at approximately $1,097,126,000. State Street Corp increased its stake in Stag Industrial by 1.5% during the 2nd quarter. State Street Corp now owns 9,539,842 shares of the real estate investment trust’s stock worth $347,261,000 after buying an additional 142,132 shares during the period. Norges Bank acquired a new stake in Stag Industrial during the 4th quarter worth approximately $295,644,000. Alliancebernstein L.P. lifted its holdings in Stag Industrial by 4.3% during the 2nd quarter. Alliancebernstein L.P. now owns 3,950,923 shares of the real estate investment trust’s stock worth $143,339,000 after buying an additional 162,887 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Stag Industrial by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,830,915 shares of the real estate investment trust’s stock valued at $140,851,000 after buying an additional 65,502 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Stag Industrial Trading Up 0.3%

STAG opened at $37.19 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.76 and a current ratio of 1.76. Stag Industrial, Inc. has a one year low of $34.40 and a one year high of $42.61. The company has a market cap of $7.17 billion, a P/E ratio of 28.61 and a beta of 0.96. The business’s 50-day simple moving average is $38.58 and its 200-day simple moving average is $38.28.

Stag Industrial (NYSE:STAG) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.37). Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. The company had revenue of $224.37 million during the quarter, compared to analysts’ expectations of $223.04 million. During the same quarter in the prior year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that Stag Industrial, Inc. will post 2.63 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, September 30th. Stag Industrial’s dividend payout ratio is currently 119.23%.

Analysts Set New Price Targets

STAG has been the subject of several research reports. Barclays boosted their price target on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stag Industrial in a report on Friday, July 31st. Raymond James Financial started coverage on Stag Industrial in a report on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 target price for the company. Wells Fargo & Company lowered their target price on Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Finally, Wall Street Zen downgraded Stag Industrial from a “hold” rating to a “sell” rating in a report on Monday, August 24th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.50.

About Stag Industrial

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.