FY2024 EPS Estimates for STAG Industrial Boosted by Wedbush

STAG Industrial, Inc. (NYSE:STAG) – Research analysts at Wedbush upped their FY2024 EPS estimates for shares of STAG Industrial in a note issued to investors on Monday, November 11th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings of $2.40 per share for the year, up from their prior forecast of $2.38. Wedbush has a “Outperform” rating and a $45.00 price objective on the stock. The consensus estimate for STAG Industrial’s current full-year earnings is $2.39 per share. Wedbush also issued estimates for STAG Industrial’s Q4 2024 earnings at $0.60 EPS.

Several other equities analysts have also recently issued reports on STAG. Evercore ISI upped their price target on shares of STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Barclays decreased their price target on shares of STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company decreased their price target on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, STAG Industrial currently has a consensus rating of “Hold” and an average target price of $41.13.

STAG Industrial Price Performance

STAG stock opened at $37.14 on Wednesday. The company has a 50 day simple moving average of $38.27 and a 200 day simple moving average of $37.59. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 37.52 and a beta of 1.09. STAG Industrial has a 1 year low of $34.09 and a 1 year high of $41.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42.

Institutional Trading of STAG Industrial

Several institutional investors and hedge funds have recently made changes to their positions in the company. J.Safra Asset Management Corp increased its holdings in STAG Industrial by 708.5% during the first quarter. J.Safra Asset Management Corp now owns 663 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 581 shares during the last quarter. Centerpoint Advisors LLC purchased a new stake in STAG Industrial during the second quarter worth about $25,000. GAMMA Investing LLC increased its holdings in STAG Industrial by 56.1% during the second quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 326 shares during the last quarter. UMB Bank n.a. increased its holdings in STAG Industrial by 54.1% during the third quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 306 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in STAG Industrial during the second quarter worth about $38,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

STAG Industrial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.1233 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.98%. STAG Industrial’s dividend payout ratio is currently 149.49%.

STAG Industrial Company Profile

We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.