Stag Industrial (NYSE:STAG) Price Target Raised to $42.00

Stag Industrial (NYSE:STAG) had its price objective raised by Royal Bank Of Canada from $38.00 to $42.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

A number of other research analysts have also commented on STAG. Industrial Alliance Securities set a $37.00 price objective on Stag Industrial in a report on Wednesday, October 1st. Evercore ISI boosted their target price on shares of Stag Industrial from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of Stag Industrial in a research note on Wednesday, October 8th. Robert W. Baird lifted their price objective on shares of Stag Industrial from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Cantor Fitzgerald started coverage on shares of Stag Industrial in a report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $38.86.

Stag Industrial Stock Up 1.0%

Stag Industrial stock opened at $38.99 on Thursday. The company’s 50-day moving average price is $36.79 and its two-hundred day moving average price is $35.90. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The stock has a market cap of $7.28 billion, a P/E ratio of 29.99 and a beta of 0.95. Stag Industrial has a twelve month low of $28.61 and a twelve month high of $39.01.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $211.12 million during the quarter, compared to analysts’ expectations of $210.26 million. Stag Industrial had a return on equity of 6.82% and a net margin of 29.24%.The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, analysts expect that Stag Industrial will post 2.47 EPS for the current year.

Stag Industrial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.1242 dividend. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. Stag Industrial’s payout ratio is 114.62%.

Insider Buying and Selling

In other Stag Industrial news, EVP Michael Chase sold 13,144 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $38.75, for a total transaction of $509,330.00. Following the sale, the executive vice president directly owned 9,422 shares in the company, valued at $365,102.50. This represents a 58.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Benjamin S. Butcher sold 25,000 shares of the business’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 transaction of $922,750.00. Following the completion of the transaction, the director owned 7,562 shares of the company’s stock, valued at $279,113.42. The trade was a 76.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 40,148 shares of company stock valued at $1,502,621 over the last quarter. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in shares of 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 purchasing an additional 14,155 shares during the last quarter. Principal Financial Group Inc. boosted 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 buying an additional 11,408 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in Stag Industrial by 8.3% in the first quarter. Concurrent Investment Advisors LLC now owns 10,889 shares of the real estate investment trust’s stock valued at $393,000 after buying an additional 831 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Stag Industrial by 0.6% in the first quarter. Envestnet Asset Management Inc. now owns 483,595 shares of the real estate investment trust’s stock valued at $17,467,000 after acquiring an additional 3,005 shares during the last quarter. Finally, M&T Bank Corp raised its stake in Stag Industrial by 4.6% during the first quarter. M&T Bank Corp now owns 29,653 shares of the real estate investment trust’s stock worth $1,071,000 after acquiring an additional 1,308 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.