500,000 Shares in Stag Industrial, Inc. $STAG Purchased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC bought a new stake in shares of Stag Industrial, Inc. (NYSE:STAG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 500,000 shares of the real estate investment trust’s stock, valued at approximately $19,030,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STAG. BlackRock Inc. bought a new stake in shares of Stag Industrial during the second quarter valued at approximately $1,097,126,000. State Street Corp boosted its position in shares of Stag Industrial by 1.5% during the second quarter. State Street Corp now owns 9,539,842 shares of the real estate investment trust’s stock worth $347,261,000 after acquiring an additional 142,132 shares during the last quarter. Norges Bank bought a new position in shares of Stag Industrial during the fourth quarter worth $295,644,000. Alliancebernstein L.P. grew its stake in Stag Industrial by 4.3% during the second quarter. Alliancebernstein L.P. now owns 3,950,923 shares of the real estate investment trust’s stock valued at $143,339,000 after acquiring an additional 162,887 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Stag Industrial by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,830,915 shares of the real estate investment trust’s stock valued at $140,851,000 after acquiring an additional 65,502 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Stag Industrial Trading Down 0.2%

STAG stock opened at $37.10 on Friday. The firm has a fifty day moving average price of $38.60 and a 200 day moving average price of $38.28. Stag Industrial, Inc. has a fifty-two week low of $34.40 and a fifty-two week high of $42.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market cap of $7.15 billion, a PE ratio of 28.54 and a beta of 0.96.

Stag Industrial (NYSE:STAG) last announced its quarterly earnings results 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). The business had revenue of $224.37 million during the quarter, compared to the consensus estimate of $223.04 million. Stag Industrial had a return on equity of 6.79% and a net margin of 28.04%.The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. Sell-side analysts anticipate that Stag Industrial, Inc. will post 2.63 earnings per share for the current fiscal year.

Stag Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.3875 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.2%. Stag Industrial’s payout ratio is 119.23%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird set a $138.00 price target on shares of Stag Industrial in a research note on Friday, July 31st. Barclays increased their price objective on shares of Stag Industrial from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, July 16th. Wall Street Zen cut Stag Industrial from a “hold” rating to a “sell” rating in a report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stag Industrial in a research report on Friday, July 31st. Finally, Raymond James Financial initiated coverage on Stag Industrial in a research note on Wednesday, June 17th. They set an “outperform” rating and a $44.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Stag Industrial presently has a consensus rating of “Hold” and a consensus target price of $50.50.

Stag Industrial Company Profile

Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company’s portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.

Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.