Stag Industrial (NYSE:STAG) Reaches New 12-Month Low – Here’s What Happened

Stag Industrial, Inc. (NYSE:STAG) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $35.36 and last traded at $35.4350, with a volume of 546344 shares traded. The stock had previously closed at $36.12.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird raised Stag Industrial from a “neutral” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Monday, August 31st. Evercore restated an “outperform” rating on shares of Stag Industrial in a report on Monday, September 14th. Barclays upped their target price on Stag Industrial from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Raymond James Financial began coverage on shares of Stag Industrial in a research report on Wednesday, June 17th. They set an “outperform” rating and a $44.00 price target for the company. Finally, Wall Street Zen upgraded shares of Stag Industrial from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.11.

Stag Industrial Stock Down 2.0%

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.76 and a quick ratio of 1.76. The firm’s 50-day moving average price is $37.12 and its 200 day moving average price is $37.96. The firm has a market cap of $6.83 billion, a P/E ratio of 27.24 and a beta of 0.95.

Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share 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 firm had revenue of $224.37 million during the quarter, compared to the consensus estimate of $223.04 million. During the same period in the prior year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Stag Industrial, Inc. will post 2.63 earnings per share for the current fiscal year.

Stag Industrial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.3875 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.55 annualized dividend and a dividend yield of 4.4%. Stag Industrial’s dividend payout ratio (DPR) is presently 119.23%.

Institutional Investors Weigh In On Stag Industrial

A number of institutional investors have recently made changes to their positions in the company. Congress Asset Management Co. increased its stake in Stag Industrial by 21.1% during the third quarter. Congress Asset Management Co. now owns 296,731 shares of the real estate investment trust’s stock valued at $10,626,000 after purchasing an additional 51,637 shares during the last quarter. Moody National Bank Trust Division lifted its position in shares of Stag Industrial by 5.7% in the 3rd quarter. Moody National Bank Trust Division now owns 43,482 shares of the real estate investment trust’s stock worth $1,557,000 after buying an additional 2,360 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Stag Industrial by 6.5% in the 3rd quarter. Central Pacific Bank Trust Division now owns 6,390 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 390 shares during the last quarter. Cim Investment Management Inc. boosted its holdings in shares of Stag Industrial by 7.4% in the 2nd quarter. Cim Investment Management Inc. now owns 12,377 shares of the real estate investment trust’s stock valued at $471,000 after buying an additional 855 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its holdings in shares of Stag Industrial by 31.5% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 26,206 shares of the real estate investment trust’s stock valued at $997,000 after buying an additional 6,283 shares during the period. 88.67% of the stock is currently owned by institutional investors.

About Stag Industrial

STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust (REIT) that owns, operates and acquires industrial properties across the United States. The company focuses primarily on single-tenant properties, with a portfolio designed to serve businesses involved in manufacturing, logistics, distribution and warehousing.

STAG Industrial seeks to generate rental income through long-term leases with tenants operating in a range of industries. Its properties are generally located in established industrial markets and are supported by demand for distribution and logistics facilities, including those serving e-commerce and supply-chain operations.

Founded in 2010 and headquartered in Boston, Massachusetts, STAG Industrial became a publicly traded company in 2011.