FY2024 EPS Estimates for STAG Industrial Lifted by Wedbush

STAG Industrial, Inc. (NYSE:STAG) – Research analysts at Wedbush boosted their FY2024 earnings estimates for STAG Industrial in a research report issued on Monday, November 11th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings per share of $2.40 for the year, up from their previous estimate of $2.38. Wedbush currently has a “Outperform” rating and a $45.00 target price on the stock. The consensus estimate for STAG Industrial’s current full-year earnings is $2.39 per share. Wedbush also issued estimates for STAG Industrial’s Q4 2024 earnings at $0.60 EPS.

STAG has been the subject of several other research reports. Wells Fargo & Company reduced their target price on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Evercore ISI boosted their price objective on STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Finally, Barclays reduced their target price on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.13.

STAG Industrial Stock Performance

NYSE STAG opened at $36.13 on Wednesday. The company’s fifty day moving average is $38.20 and its two-hundred day moving average is $37.58. STAG Industrial has a 52-week low of $34.09 and a 52-week high of $41.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 36.49 and a beta of 1.09.

STAG Industrial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.1233 dividend. This represents a $1.48 annualized dividend and a yield of 4.10%. The ex-dividend date is Tuesday, December 31st. STAG Industrial’s dividend payout ratio is 149.49%.

Institutional Investors Weigh In On STAG Industrial

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of STAG Industrial by 1,527.8% in the 1st quarter. SG Americas Securities LLC now owns 64,118 shares of the real estate investment trust’s stock worth $2,465,000 after acquiring an additional 60,179 shares in the last quarter. Swiss National Bank grew its holdings in shares of STAG Industrial by 1.2% during the first quarter. Swiss National Bank now owns 358,500 shares of the real estate investment trust’s stock worth $13,781,000 after purchasing an additional 4,400 shares during the last quarter. Sei Investments Co. increased its stake in shares of STAG Industrial by 1.9% in the first quarter. Sei Investments Co. now owns 516,165 shares of the real estate investment trust’s stock valued at $19,841,000 after buying an additional 9,857 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of STAG Industrial by 2.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,930 shares of the real estate investment trust’s stock valued at $4,264,000 after buying an additional 3,015 shares during the last quarter. Finally, Scout Investments Inc. lifted its position in STAG Industrial by 6.3% during the 1st quarter. Scout Investments Inc. now owns 1,452,639 shares of the real estate investment trust’s stock worth $54,677,000 after buying an additional 85,488 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

About STAG Industrial

We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.