STAG Industrial (NYSE:STAG) Reaches New 52-Week Low at $31.12

STAG Industrial, Inc. (NYSE:STAGGet Rating) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $31.12 and last traded at $31.27, with a volume of 2982 shares changing hands. The stock had previously closed at $32.09.

Several research analysts have issued reports on STAG shares. Wells Fargo & Company lowered their price target on shares of STAG Industrial from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, June 6th. StockNews.com began coverage on STAG Industrial in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Raymond James dropped their price objective on STAG Industrial from $50.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, February 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, STAG Industrial currently has a consensus rating of “Buy” and a consensus target price of $46.00.

The firm has a market cap of $5.57 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $36.51 and a 200-day simple moving average of $40.30.

STAG Industrial (NYSE:STAGGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.22). STAG Industrial had a return on equity of 7.01% and a net margin of 37.63%. The business had revenue of $159.21 million during the quarter, compared to analysts’ expectations of $156.38 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, research analysts forecast that STAG Industrial, Inc. will post 2.15 EPS for the current year.

The company also recently announced a monthly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a $0.1217 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.46 dividend on an annualized basis and a yield of 4.70%. STAG Industrial’s dividend payout ratio (DPR) is 112.31%.

In related news, CEO Benjamin S. Butcher sold 15,000 shares of STAG Industrial stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $41.98, for a total value of $629,700.00. Following the sale, the chief executive officer now directly owns 22,088 shares in the company, valued at approximately $927,254.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace North America L.P. acquired a new position in shares of STAG Industrial during the first quarter worth $36,000. First Trust Advisors LP grew its position in shares of STAG Industrial by 88.7% in the first quarter. First Trust Advisors LP now owns 82,198 shares of the real estate investment trust’s stock valued at $2,437,000 after purchasing an additional 38,645 shares during the last quarter. Morgan Stanley grew its position in shares of STAG Industrial by 33.9% in the second quarter. Morgan Stanley now owns 594,942 shares of the real estate investment trust’s stock valued at $22,269,000 after purchasing an additional 150,632 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in STAG Industrial during the third quarter worth approximately $2,269,000. Finally, HighTower Advisors LLC raised its stake in STAG Industrial by 73.8% during the third quarter. HighTower Advisors LLC now owns 31,485 shares of the real estate investment trust’s stock worth $1,233,000 after purchasing an additional 13,371 shares during the period. 84.18% of the stock is currently owned by institutional investors.

About STAG Industrial (NYSE:STAG)

STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.

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