Millennium Management LLC reduced its position in Stag Industrial Inc (NYSE:STAG) by 78.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,523 shares of the real estate investment trust’s stock after selling 518,514 shares during the quarter. Millennium Management LLC owned approximately 0.13% of Stag Industrial worth $3,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc raised its stake in Stag Industrial by 5.8% during the third quarter. Vanguard Group Inc now owns 14,841,260 shares of the real estate investment trust’s stock valued at $408,135,000 after purchasing an additional 813,941 shares in the last quarter. Zimmer Partners LP bought a new position in Stag Industrial during the fourth quarter valued at $63,247,000. Chartwell Investment Partners LLC bought a new position in Stag Industrial during the fourth quarter valued at $13,202,000. Geode Capital Management LLC grew its holdings in shares of Stag Industrial by 11.4% in the fourth quarter. Geode Capital Management LLC now owns 1,121,785 shares of the real estate investment trust’s stock worth $27,909,000 after purchasing an additional 114,578 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Stag Industrial by 8.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 35,229 shares of the real estate investment trust’s stock worth $876,000 after purchasing an additional 2,613 shares during the last quarter. Institutional investors and hedge funds own 82.26% of the company’s stock.
A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of Stag Industrial from a “hold” rating to a “sell” rating in a report on Saturday. DA Davidson increased their target price on shares of Stag Industrial to $32.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. TheStreet upgraded shares of Stag Industrial from a “c+” rating to a “b” rating in a report on Thursday, February 21st. ValuEngine cut shares of Stag Industrial from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, LADENBURG THALM/SH SH increased their target price on shares of Stag Industrial from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, February 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Stag Industrial has an average rating of “Hold” and a consensus price target of $29.25.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.39). The company had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $95.19 million. Stag Industrial had a net margin of 19.44% and a return on equity of 4.63%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. As a group, equities analysts predict that Stag Industrial Inc will post 1.83 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.1192 dividend. This represents a $1.43 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Thursday, June 27th. Stag Industrial’s payout ratio is currently 79.89%.
Stag Industrial Profile
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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