Stag Industrial, Inc. $STAG Shares Acquired by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. grew its holdings in Stag Industrial, Inc. (NYSE:STAG) by 9.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,388 shares of the real estate investment trust’s stock after buying an additional 4,393 shares during the period. Harvest Portfolios Group Inc.’s holdings in Stag Industrial were worth $1,892,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Stag Industrial by 204.9% in the first quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 506 shares during the last quarter. Tsfg LLC acquired a new stake in shares of Stag Industrial in the first quarter valued at about $32,000. Garde Capital Inc. acquired a new stake in shares of Stag Industrial in the first quarter valued at about $33,000. Avalon Trust Co acquired a new stake in shares of Stag Industrial in the first quarter valued at about $36,000. Finally, Keystone Global Partners LLC acquired a new stake in shares of Stag Industrial in the first quarter valued at about $41,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Stag Industrial Trading Down 0.3%

Shares of STAG stock opened at $36.29 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market cap of $6.78 billion, a PE ratio of 28.58 and a beta of 0.91. The company has a 50-day moving average of $35.72 and a two-hundred day moving average of $35.06. Stag Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $40.62.

Stag Industrial (NYSE:STAG) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. The company had revenue of $207.44 million during the quarter, compared to analyst estimates of $206.37 million. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. Stag Industrial’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 earnings per share. On average, analysts predict that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.1242 per share. This represents a yield of 429.0%. The ex-dividend date of this dividend is Friday, August 29th. Stag Industrial’s dividend payout ratio (DPR) is 117.32%.

Insiders Place Their Bets

In other news, Director Benjamin S. Butcher sold 28,843 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $36.90, for a total value of $1,064,306.70. Following the completion of the transaction, the director owned 7,115 shares of the company’s stock, valued at approximately $262,543.50. This trade represents a 80.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on STAG shares. Royal Bank Of Canada reissued a “sector perform” rating and issued a $38.00 price objective on shares of Stag Industrial in a report on Monday, May 19th. Raymond James Financial upped their price objective on shares of Stag Industrial from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Robert W. Baird dropped their price objective on shares of Stag Industrial from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Finally, Evercore ISI upped their price objective on shares of Stag Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.17.

Stag Industrial Profile

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.