Harvest Portfolios Group Inc. Sells 18,030 Shares of Stag Industrial, Inc. $STAG

Harvest Portfolios Group Inc. lowered its holdings in shares of Stag Industrial, Inc. (NYSE:STAG) by 28.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 44,932 shares of the real estate investment trust’s stock after selling 18,030 shares during the period. Harvest Portfolios Group Inc.’s holdings in Stag Industrial were worth $1,652,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new position in Stag Industrial during the third quarter worth $27,000. Root Financial Partners LLC bought a new position in Stag Industrial during the third quarter worth $43,000. International Assets Investment Management LLC bought a new position in Stag Industrial during the fourth quarter worth $51,000. EverSource Wealth Advisors LLC raised its stake in Stag Industrial by 270.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 1,048 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Stag Industrial by 76.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 764 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Stag Industrial Trading Up 1.5%

STAG opened at $38.28 on Thursday. Stag Industrial, Inc. has a 1-year low of $33.72 and a 1-year high of $39.99. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.32 billion, a P/E ratio of 29.67 and a beta of 1.00. The company has a fifty day moving average price of $37.96 and a two-hundred day moving average price of $38.12.

Stag Industrial (NYSE:STAG) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. Stag Industrial had a net margin of 28.25% and a return on equity of 6.80%. The firm had revenue of $224.21 million during the quarter, compared to the consensus estimate of $221.52 million. During the same period in the previous year, the firm posted $0.61 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Analysts predict that Stag Industrial, Inc. will post 2.63 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Stag Industrial’s payout ratio is 120.16%.

Analysts Set New Price Targets

STAG has been the subject of a number of analyst reports. Wall Street Zen raised shares of Stag Industrial from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. JPMorgan Chase & Co. lifted their target price on shares of Stag Industrial from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Evercore reissued an “outperform” rating and set a $44.00 target price on shares of Stag Industrial in a research note on Wednesday, April 29th. Barclays lowered their target price on shares of Stag Industrial from $39.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, May 5th. Finally, Robert W. Baird set a $40.00 target price on shares of Stag Industrial in a research note on Tuesday, February 17th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Stag Industrial currently has an average rating of “Hold” and a consensus price target of $39.78.

Insider Buying and Selling at Stag Industrial

In other Stag Industrial news, CEO William R. Crooker sold 93,732 shares of Stag Industrial stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $39.17, for a total value of $3,671,482.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matts Pinard sold 25,242 shares of Stag Industrial stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $39.18, for a total transaction of $988,981.56. Following the completion of the sale, the executive vice president directly owned 951 shares of the company’s stock, valued at approximately $37,260.18. This trade represents a 96.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

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.