Eliot Finkel Investment Counsel LLC Sells 690 Shares of Stag Industrial, Inc. $STAG

Eliot Finkel Investment Counsel LLC cut its holdings in shares of Stag Industrial, Inc. (NYSE:STAG) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,225 shares of the real estate investment trust’s stock after selling 690 shares during the quarter. Stag Industrial accounts for 1.4% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 28th largest position. Eliot Finkel Investment Counsel LLC’s holdings in Stag Industrial were worth $2,185,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in STAG. Nuveen LLC bought a new position in shares of Stag Industrial during the first quarter worth approximately $129,972,000. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Stag Industrial by 152.1% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,938,350 shares of the real estate investment trust’s stock worth $70,013,000 after purchasing an additional 1,169,533 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Stag Industrial by 37.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock worth $60,391,000 after purchasing an additional 451,355 shares during the period. Boston Trust Walden Corp increased its holdings in shares of Stag Industrial by 17.5% during the first quarter. Boston Trust Walden Corp now owns 2,942,495 shares of the real estate investment trust’s stock worth $106,283,000 after purchasing an additional 437,527 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Stag Industrial by 606.8% during the first quarter. American Century Companies Inc. now owns 445,853 shares of the real estate investment trust’s stock worth $16,104,000 after purchasing an additional 382,771 shares during the period. 88.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Stag Industrial from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Cantor Fitzgerald started coverage on shares of Stag Industrial in a research note on Wednesday. They issued a “neutral” rating and a $37.00 price objective on the stock. Industrial Alliance Securities set a $37.00 price objective on shares of Stag Industrial in a research note on Wednesday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Stag Industrial in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Stag Industrial has a consensus rating of “Hold” and an average target price of $38.00.

Stag Industrial Stock Performance

Shares of Stag Industrial stock opened at $36.23 on Friday. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $39.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market capitalization of $6.76 billion, a P/E ratio of 28.52 and a beta of 0.92. The company’s 50 day moving average price is $35.56 and its two-hundred day moving average price is $35.10.

Stag Industrial (NYSE:STAG) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share 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 net margin of 29.14% and a return on equity of 6.71%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. On average, equities analysts forecast that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.1242 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, August 29th. Stag Industrial’s payout ratio is 117.32%.

Insiders Place Their Bets

In other news, Director Larry T. Guillemette sold 2,004 shares of Stag Industrial stock in a transaction 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 approximately $1,361,043.20. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin S. Butcher sold 25,000 shares of Stag Industrial stock in a transaction 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 owned 7,562 shares in the company, valued at approximately $279,113.42. This trade represents a 76.78% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

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.