Stag Industrial (NYSE:STAG) Posts Earnings Results, Misses Expectations By $0.37 EPS

Stag Industrial (NYSE:STAG) announced its earnings results on Tuesday. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.37), FiscalAI reports. The business had revenue of $224.37 million for the quarter, compared to analysts’ expectations of $223.04 million. Stag Industrial had a net margin of 28.04% and a return on equity of 6.84%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share.

Stag Industrial Trading Down 2.2%

NYSE:STAG traded down $0.86 during midday trading on Thursday, hitting $38.05. The stock had a trading volume of 272,375 shares, compared to its average volume of 1,442,736. The stock has a 50-day moving average of $38.86 and a 200 day moving average of $38.36. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 29.28 and a beta of 0.97. Stag Industrial has a one year low of $33.72 and a one year high of $42.61. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.87.

Stag Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.3875 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.55 annualized dividend and a yield of 4.1%. Stag Industrial’s dividend payout ratio is 120.16%.

Hedge Funds Weigh In On Stag Industrial

Several institutional investors have recently made changes to their positions in STAG. Virtu Financial LLC purchased a new position in Stag Industrial during the 4th quarter valued at about $239,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of Stag Industrial by 1.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,515 shares of the real estate investment trust’s stock valued at $1,122,000 after purchasing an additional 367 shares in the last quarter. Beacon Pointe Advisors LLC bought a new position in shares of Stag Industrial during the fourth quarter valued at approximately $237,000. State of Tennessee Department of Treasury increased its holdings in Stag Industrial by 4.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 477,763 shares of the real estate investment trust’s stock valued at $17,921,000 after buying an additional 18,738 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in Stag Industrial during the fourth quarter valued at approximately $25,459,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Raymond James Financial assumed coverage on Stag Industrial in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 price objective for the company. Evercore restated an “outperform” rating and set a $44.00 price target on shares of Stag Industrial in a report on Wednesday, April 29th. Wells Fargo & Company lowered their price target on Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Weiss Ratings lowered shares of Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Finally, Barclays boosted their price objective on shares of Stag Industrial from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.70.

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.