California Public Employees Retirement System Raises Holdings in Stag Industrial, Inc. $STAG

California Public Employees Retirement System grew its holdings in Stag Industrial, Inc. (NYSE:STAG) by 5.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 385,548 shares of the real estate investment trust’s stock after buying an additional 21,088 shares during the quarter. California Public Employees Retirement System’s holdings in Stag Industrial were worth $13,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. raised its position in Stag Industrial by 3.4% in the first quarter. Assetmark Inc. now owns 43,506 shares of the real estate investment trust’s stock worth $1,569,000 after acquiring an additional 1,443 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Stag Industrial by 74.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 235,938 shares of the real estate investment trust’s stock worth $8,543,000 after purchasing an additional 100,482 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of 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 valued at $1,170,000 after purchasing an additional 4,646 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of Stag Industrial by 4.3% in the first 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 purchasing an additional 1,900 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Stag Industrial by 6.2% in the first quarter. Principal Financial Group Inc. now owns 426,483 shares of the real estate investment trust’s stock valued at $15,379,000 after purchasing an additional 24,740 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analyst Ratings Changes

STAG has been the topic of several recent analyst reports. Evercore restated an “outperform” rating and set a $44.00 target price on shares of Stag Industrial in a research report on Wednesday, April 29th. Barclays boosted their price target on Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Raymond James Financial began coverage on Stag Industrial in a report on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 price target on the stock. Wells Fargo & Company dropped their price objective on Stag Industrial from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Finally, Weiss Ratings downgraded Stag Industrial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.70.

Stag Industrial Trading Up 1.5%

Shares of STAG opened at $41.11 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.57 and a quick ratio of 1.57. Stag Industrial, Inc. has a 1-year low of $33.72 and a 1-year high of $42.61. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 31.87 and a beta of 0.97. The firm has a 50 day simple moving average of $38.74 and a 200-day simple moving average of $38.30.

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

Stag Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 30th. Stag Industrial’s dividend payout ratio is currently 120.16%.

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.