Gabelli Funds LLC Takes Position in Stag Industrial, Inc. $STAG

Gabelli Funds LLC acquired a new position in Stag Industrial, Inc. (NYSE:STAG) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 153,777 shares of the real estate investment trust’s stock, valued at approximately $5,579,000. Gabelli Funds LLC owned 0.08% of Stag Industrial at the end of the most recent reporting period.

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

Analysts Set New Price Targets

STAG has been the subject of several recent research reports. Robert W. Baird boosted their price target on Stag Industrial from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Cantor Fitzgerald assumed coverage on Stag Industrial in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 target price on the stock. Wall Street Zen raised shares of Stag Industrial from a “sell” rating to a “hold” rating in a research report on Saturday. Industrial Alliance Securities set a $37.00 price objective on shares of Stag Industrial in a research report on Wednesday, October 1st. Finally, Citigroup boosted their price objective on shares of Stag Industrial from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Stag Industrial has an average rating of “Hold” and an average target price of $38.89.

Insiders Place Their Bets

In related news, Director Larry T. Guillemette sold 2,004 shares of the company’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $35.20, for a total value of $70,540.80. Following the transaction, the director directly owned 38,666 shares of the company’s stock, valued at $1,361,043.20. This represents a 4.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Chase sold 13,144 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $38.75, for a total value of $509,330.00. Following the completion of the transaction, the executive vice president owned 9,422 shares of the company’s stock, valued at $365,102.50. This trade represents a 58.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.

Stag Industrial Price Performance

Shares of STAG stock opened at $38.37 on Wednesday. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $39.73. 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 capitalization of $7.17 billion, a price-to-earnings ratio of 29.52 and a beta of 1.06. The stock’s 50-day simple moving average is $38.16 and its 200-day simple moving average is $36.65.

Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $211.12 million during the quarter, compared to analyst estimates of $210.26 million. Stag Industrial had a net margin of 29.24% and a return on equity of 6.84%. Stag Industrial’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. As a group, equities analysts forecast that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.1242 per share. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, December 31st. Stag Industrial’s payout ratio is presently 114.62%.

Stag Industrial Company 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.