Oppenheimer Asset Management Inc. Sells 2,473 Shares of Stag Industrial, Inc. $STAG

Oppenheimer Asset Management Inc. lessened its stake in shares of Stag Industrial, Inc. (NYSE:STAG) by 2.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,287 shares of the real estate investment trust’s stock after selling 2,473 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Stag Industrial were worth $3,530,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of STAG. Wealth Enhancement Advisory Services LLC increased its position in shares of Stag Industrial by 8.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,255 shares of the real estate investment trust’s stock worth $587,000 after purchasing an additional 1,295 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Stag Industrial by 4.7% during the first quarter. Janney Montgomery Scott LLC now owns 12,711 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 571 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Stag Industrial by 28.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 214,926 shares of the real estate investment trust’s stock worth $7,787,000 after acquiring an additional 47,360 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Stag Industrial by 2.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 202,496 shares of the real estate investment trust’s stock valued at $7,314,000 after acquiring an additional 4,752 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Stag Industrial by 47.3% in the 1st quarter. New York State Teachers Retirement System now owns 55,963 shares of the real estate investment trust’s stock valued at $2,021,000 after acquiring an additional 17,958 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Stag Industrial from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Stag Industrial in a research note on Wednesday, October 8th. Industrial Alliance Securities set a $37.00 target price on Stag Industrial in a research note on Wednesday, October 1st. Finally, Cantor Fitzgerald initiated coverage on Stag Industrial in a report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.00.

Insider Transactions at Stag Industrial

In other Stag Industrial news, Director Larry T. Guillemette sold 2,004 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $35.20, for a total transaction of $70,540.80. Following the transaction, the director owned 38,666 shares in the company, valued at $1,361,043.20. This represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Benjamin S. Butcher sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $36.91, for a total transaction of $922,750.00. Following the transaction, the director directly owned 7,562 shares in the company, valued at $279,113.42. This represents a 76.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by company insiders.

Stag Industrial Price Performance

Shares of NYSE STAG opened at $38.11 on Wednesday. The firm has a market cap of $7.11 billion, a P/E ratio of 30.01 and a beta of 0.92. The business’s 50 day moving average is $36.47 and its 200-day moving average is $35.56. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86. Stag Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $39.01.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, meeting analysts’ consensus estimates of $0.63. The firm had revenue of $207.44 million for the quarter, compared to analyst estimates of $206.37 million. Stag Industrial had a return on equity of 6.71% and a net margin of 29.14%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS. Equities research analysts predict that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.1242 dividend. The ex-dividend date is Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 3.9%. Stag Industrial’s dividend payout ratio is 117.32%.

Stag Industrial 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.