Fisher Asset Management LLC Reduces Holdings in Stag Industrial, Inc. $STAG

Fisher Asset Management LLC lessened its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 10.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 182,502 shares of the real estate investment trust’s stock after selling 22,315 shares during the quarter. Fisher Asset Management LLC owned about 0.10% of Stag Industrial worth $6,621,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Stag Industrial during the second quarter worth $282,893,000. Nuveen LLC acquired a new position in shares of Stag Industrial in the 1st quarter valued at $129,972,000. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Stag Industrial by 82.3% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,533,588 shares of the real estate investment trust’s stock worth $128,199,000 after purchasing an additional 1,595,238 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Stag Industrial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock worth $60,391,000 after purchasing an additional 451,355 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Stag Industrial by 57.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,147,243 shares of the real estate investment trust’s stock worth $41,622,000 after purchasing an additional 416,415 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STAG. Evercore ISI increased their target price on shares of Stag Industrial from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Wall Street Zen downgraded shares of Stag Industrial from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Cantor Fitzgerald initiated coverage on shares of Stag Industrial in a research report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective for the company. Industrial Alliance Securities set a $37.00 target price on shares of Stag Industrial in a report on Wednesday, October 1st. Finally, Robert W. Baird boosted their target price on Stag Industrial from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $38.89.

Insiders Place Their Bets

In other Stag Industrial news, EVP Michael Chase sold 13,144 shares of Stag Industrial stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $38.75, for a total transaction of $509,330.00. Following the completion of the sale, the executive vice president directly owned 9,422 shares of the company’s stock, valued at $365,102.50. The trade was a 58.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Larry T. Guillemette sold 2,004 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $35.20, for a total value of $70,540.80. Following the completion of the transaction, the director owned 38,666 shares in the company, valued at approximately $1,361,043.20. The trade was a 4.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Stag Industrial Trading Down 0.7%

NYSE STAG opened at $38.83 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 29.87 and a beta of 1.06. The firm has a 50 day simple moving average of $37.95 and a 200-day simple moving average of $36.55. Stag Industrial, Inc. has a one year low of $28.61 and a one year high of $39.73.

Stag Industrial (NYSE:STAG) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $211.12 million during the quarter, compared to the consensus estimate of $210.26 million. Stag Industrial had a net margin of 29.24% and a return on equity of 6.84%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities research analysts anticipate that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

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

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.