Bank of New York Mellon Corp Lowers Stock Holdings in Stag Industrial, Inc. $STAG

Bank of New York Mellon Corp lowered its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,592,928 shares of the real estate investment trust’s stock after selling 87,446 shares during the period. Bank of New York Mellon Corp owned about 0.83% of Stag Industrial worth $57,441,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of STAG. Sanctuary Advisors LLC raised its position in Stag Industrial by 16.7% in the 1st quarter. Sanctuary Advisors LLC now owns 32,453 shares of the real estate investment trust’s stock worth $1,170,000 after purchasing an additional 4,646 shares during the period. State of Michigan Retirement System boosted its holdings in Stag Industrial by 4.3% during the 1st quarter. State of Michigan Retirement System now owns 46,000 shares of the real estate investment trust’s stock valued at $1,659,000 after acquiring an additional 1,900 shares during the period. Principal Financial Group Inc. boosted its holdings in Stag Industrial by 6.2% during the 1st quarter. Principal Financial Group Inc. now owns 426,483 shares of the real estate investment trust’s stock valued at $15,379,000 after acquiring an additional 24,740 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Stag Industrial by 22.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 132,741 shares of the real estate investment trust’s stock worth $4,787,000 after acquiring an additional 24,771 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in Stag Industrial by 47.7% during the 1st quarter. Fifth Third Bancorp now owns 2,484 shares of the real estate investment trust’s stock worth $90,000 after acquiring an additional 802 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Stag Industrial Stock Performance

NYSE:STAG opened at $40.48 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.87. The firm’s fifty day simple moving average is $38.67 and its 200 day simple moving average is $38.28. The stock has a market cap of $7.74 billion, a P/E ratio of 31.38 and a beta of 0.97. Stag Industrial, Inc. has a twelve month low of $33.72 and a twelve month high of $42.61.

Stag Industrial (NYSE:STAG) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. Stag Industrial had a net margin of 28.25% and a return on equity of 6.80%. The company had revenue of $224.21 million for the quarter, compared to analysts’ expectations of $221.51 million. During the same quarter in the previous year, the company earned $0.61 earnings per share. Stag Industrial’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts predict that Stag Industrial, Inc. will post 2.64 EPS for the current year.

Stag Industrial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 30th. Stag Industrial’s dividend payout ratio (DPR) is presently 120.16%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Evercore reissued an “outperform” rating and set a $44.00 price objective on shares of Stag Industrial in a research note on Wednesday, April 29th. Wells Fargo & Company decreased their target price on shares of Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Weiss Ratings lowered shares of Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Barclays raised their price target on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Finally, Raymond James Financial assumed coverage on shares of Stag Industrial in a research note on Wednesday, June 17th. They set an “outperform” rating and a $44.00 price objective for the company. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Stag Industrial has a consensus rating of “Hold” and an average target price of $40.70.

About Stag Industrial

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.