Stag Industrial (NYSE:STAG) Announces Earnings Results

by · The Markets Daily

Stag Industrial (NYSE:STAG – Get Free Report) announced its earnings results on Wednesday. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.19), FiscalAI reports. Stag Industrial had a return on equity of 6.84% and a net margin of 29.24%.The business had revenue of $220.90 million for the quarter, compared to analyst estimates of $213.66 million.

Stag Industrial Trading Down 0.5%

Shares of Stag Industrial stock traded down $0.22 on Wednesday, hitting $39.21. The stock had a trading volume of 1,379,134 shares, compared to its average volume of 1,569,038. The stock has a 50 day moving average of $37.70 and a 200 day moving average of $37.11. The firm has a market capitalization of $7.32 billion, a P/E ratio of 30.16 and a beta of 1.06. Stag Industrial has a twelve month low of $28.61 and a twelve month high of $39.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.06 and a current ratio of 1.06.

Stag Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.3875 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.55 annualized dividend and a dividend yield of 4.0%. Stag Industrial’s dividend payout ratio is currently 119.23%.

Hedge Funds Weigh In On Stag Industrial

Several large investors have recently modified their holdings of STAG. Balyasny Asset Management L.P. grew its stake in shares of Stag Industrial by 1,818.4% in the third quarter. Balyasny Asset Management L.P. now owns 570,931 shares of the real estate investment trust’s stock worth $20,148,000 after purchasing an additional 541,170 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Stag Industrial by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock valued at $60,391,000 after buying an additional 451,355 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Stag Industrial by 27.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,901,227 shares of the real estate investment trust’s stock valued at $69,889,000 after buying an additional 405,716 shares during the period. Millennium Management LLC raised its position in shares of Stag Industrial by 324.9% during the third quarter. Millennium Management LLC now owns 327,532 shares of the real estate investment trust’s stock worth $11,559,000 after acquiring an additional 250,454 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Stag Industrial by 93.7% in the third quarter. Bank of Montreal Can now owns 515,113 shares of the real estate investment trust’s stock worth $18,178,000 after acquiring an additional 249,137 shares during the period. Institutional investors own 88.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on STAG shares. Barclays reaffirmed an “underweight” rating and issued a $39.00 price objective (down from $40.00) on shares of Stag Industrial in a report on Tuesday, January 13th. Wells Fargo & Company boosted their price target on Stag Industrial from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Evercore increased their price objective on shares of Stag Industrial from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Stag Industrial in a research report on Monday, December 22nd. Finally, Citigroup increased their price target on shares of Stag Industrial from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.33.

Check Out Our Latest Analysis on Stag Industrial

Stag Industrial Company Profile

(Get Free Report)

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.

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