New York State Teachers Retirement System Acquires 403 Shares of Stag Industrial, Inc. $STAG

New York State Teachers Retirement System lifted its holdings in shares of Stag Industrial, Inc. (NYSE:STAG) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,366 shares of the real estate investment trust’s stock after purchasing an additional 403 shares during the quarter. New York State Teachers Retirement System’s holdings in Stag Industrial were worth $2,045,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Teacher Retirement System of Texas raised its holdings in Stag Industrial by 55.3% in the 1st quarter. Teacher Retirement System of Texas now owns 39,735 shares of the real estate investment trust’s stock valued at $1,435,000 after acquiring an additional 14,155 shares in the last quarter. Principal Financial Group Inc. raised its stake in Stag Industrial by 2.7% in the first quarter. Principal Financial Group Inc. now owns 429,045 shares of the real estate investment trust’s stock valued at $15,497,000 after purchasing an additional 11,408 shares in the last quarter. Janney Montgomery Scott LLC lifted its position 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 purchasing an additional 571 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Stag Industrial by 8.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,255 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 1,295 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in Stag Industrial in the 2nd quarter valued at about $268,000. 88.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STAG. Evercore ISI upped their price target 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. Industrial Alliance Securities set a $37.00 target price on Stag Industrial in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stag Industrial in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald initiated coverage on Stag Industrial in a research report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Stag Industrial currently has a consensus rating of “Hold” and an average target price of $38.00.

Stag Industrial Stock Performance

NYSE STAG opened at $38.58 on Wednesday. The firm’s fifty day moving average price is $36.12 and its two-hundred day moving average price is $35.27. The stock has a market cap of $7.20 billion, a PE ratio of 30.38 and a beta of 0.92. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.98. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 1.31.

Stag Industrial (NYSE:STAG) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, meeting analysts’ consensus estimates of $0.63. Stag Industrial had a return on equity of 6.71% and a net margin of 29.14%.The company had revenue of $207.44 million during the quarter, compared to analysts’ expectations of $206.37 million. During the same period in the prior year, the company earned $0.61 EPS. Stag Industrial’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

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

Insider Activity at Stag Industrial

In related news, Director Benjamin S. Butcher sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $36.91, for a total value of $922,750.00. Following the completion of the transaction, the director owned 7,562 shares in the company, valued at $279,113.42. This trade represents a 76.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Larry T. Guillemette sold 2,004 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $35.20, for a total transaction of $70,540.80. Following the sale, the director directly owned 38,666 shares in the company, valued at $1,361,043.20. The trade was a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.