Stag Industrial, Inc. $STAG Shares Bought by Channing Capital Management LLC

Channing Capital Management LLC grew its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,186,846 shares of the real estate investment trust’s stock after purchasing an additional 167,093 shares during the quarter. Stag Industrial makes up about 2.0% of Channing Capital Management LLC’s holdings, making the stock its 21st largest position. Channing Capital Management LLC owned 1.17% of Stag Industrial worth $77,174,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in Stag Industrial by 1.5% during the 2nd quarter. State Street Corp now owns 9,539,842 shares of the real estate investment trust’s stock worth $347,261,000 after buying an additional 142,132 shares during the last quarter. Norges Bank acquired a new stake in shares of Stag Industrial in the second quarter valued at approximately $282,893,000. Alliancebernstein L.P. grew its position in shares of Stag Industrial by 4.3% during the second quarter. Alliancebernstein L.P. now owns 3,950,923 shares of the real estate investment trust’s stock worth $143,339,000 after acquiring an additional 162,887 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Stag Industrial by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,684,395 shares of the real estate investment trust’s stock valued at $133,690,000 after acquiring an additional 46,713 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC raised its position in Stag Industrial by 82.3% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,533,588 shares of the real estate investment trust’s stock valued at $128,199,000 after purchasing an additional 1,595,238 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on STAG shares. Barclays reiterated an “underweight” rating and set a $39.00 price target (down previously from $40.00) on shares of Stag Industrial in a research note on Tuesday, January 13th. Wells Fargo & Company upped their target price on shares of Stag Industrial from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Royal Bank Of Canada raised their price target on Stag Industrial from $38.00 to $42.00 and gave the stock a “sector perform” rating in a report on Thursday, November 6th. Robert W. Baird set a $40.00 price target on Stag Industrial in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on Stag Industrial from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.50.

Stag Industrial Stock Up 2.6%

Shares of NYSE:STAG opened at $39.54 on Friday. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $39.88. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.89. The firm’s 50-day simple moving average is $37.70 and its 200-day simple moving average is $37.30. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 27.08 and a beta of 1.06.

Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Stag Industrial had a net margin of 32.35% and a return on equity of 7.68%. The firm had revenue of $220.90 million during the quarter, compared to the consensus estimate of $213.66 million. During the same quarter last year, the firm earned $0.61 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts predict that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stag Industrial’s dividend payout ratio (DPR) is currently 102.05%.

Stag Industrial Profile

Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company’s portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.

Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.