Royal Bank of Canada Reaffirms “Sector Perform” Rating for STAG Industrial (NYSE:STAG)

STAG Industrial (NYSE:STAG)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $38.00 price objective on the real estate investment trust’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 5.99% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Robert W. Baird cut their price target on shares of STAG Industrial from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Raymond James upped their price target on shares of STAG Industrial from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, Barclays cut their price target on shares of STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, STAG Industrial currently has an average rating of “Hold” and a consensus target price of $39.63.

STAG Industrial Price Performance

STAG traded down $0.01 during trading on Monday, reaching $35.85. The stock had a trading volume of 376,670 shares, compared to its average volume of 1,216,560. The stock has a market cap of $6.69 billion, a PE ratio of 34.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. STAG Industrial has a one year low of $28.61 and a one year high of $41.63. The business has a 50-day moving average of $33.81 and a 200-day moving average of $34.76.

STAG Industrial (NYSE:STAG) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $205.57 million for the quarter, compared to analysts’ expectations of $202.04 million. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, equities research analysts anticipate that STAG Industrial will post 2.47 EPS for the current fiscal year.

Insider Activity

In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of STAG Industrial stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $35.10, for a total value of $1,755,000.00. Following the completion of the sale, the director now owns 9,632 shares of the company’s stock, valued at approximately $338,083.20. The trade was a 83.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of STAG. Nuveen LLC purchased a new position in shares of STAG Industrial during the 1st quarter worth $129,972,000. Norges Bank purchased a new position in shares of STAG Industrial during the 4th quarter valued at $75,471,000. FMR LLC lifted its stake in shares of STAG Industrial by 30.1% during the 4th quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust’s stock valued at $305,224,000 after buying an additional 2,088,839 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of STAG Industrial during the 4th quarter valued at $57,561,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of STAG Industrial by 152.1% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,938,350 shares of the real estate investment trust’s stock valued at $70,013,000 after buying an additional 1,169,533 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

STAG Industrial Company Profile

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.