FY2024 EPS Estimates for STAG Industrial Boosted by Wedbush

STAG Industrial, Inc. (NYSE:STAG) – Investment analysts at Wedbush increased their FY2024 earnings estimates for shares of STAG Industrial in a research report issued to clients and investors on Monday, January 27th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $2.45 per share for the year, up from their previous estimate of $2.40. The consensus estimate for STAG Industrial’s current full-year earnings is $2.40 per share.

A number of other research firms have also recently commented on STAG. Wells Fargo & Company decreased their price objective on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Raymond James upped their price target on STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Barclays cut their price objective on STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada decreased their target price on shares of STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

STAG Industrial Price Performance

Shares of STAG stock opened at $34.38 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $6.26 billion, a PE ratio of 34.72 and a beta of 1.09. The firm’s 50-day moving average is $34.81 and its two-hundred day moving average is $37.40. STAG Industrial has a 12 month low of $32.27 and a 12 month high of $41.63.

STAG Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.1242 per share. This represents a $1.49 annualized dividend and a yield of 4.33%. The ex-dividend date is Monday, March 31st. STAG Industrial’s payout ratio is currently 149.49%.

Hedge Funds Weigh In On STAG Industrial

Institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new position in STAG Industrial during the 3rd quarter worth $717,000. Geode Capital Management LLC grew its position in shares of STAG Industrial by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,403,540 shares of the real estate investment trust’s stock worth $133,077,000 after buying an additional 21,925 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of STAG Industrial by 169.6% during the third quarter. BNP Paribas Financial Markets now owns 132,412 shares of the real estate investment trust’s stock worth $5,176,000 after buying an additional 83,296 shares during the period. Los Angeles Capital Management LLC raised its holdings in STAG Industrial by 314.5% in the third quarter. Los Angeles Capital Management LLC now owns 145,520 shares of the real estate investment trust’s stock valued at $5,688,000 after acquiring an additional 110,410 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in STAG Industrial by 187.3% in the third quarter. Harbor Capital Advisors Inc. now owns 97,875 shares of the real estate investment trust’s stock worth $3,826,000 after acquiring an additional 63,808 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

About STAG Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.