Stag Industrial (NYSE:STAG) Posts Earnings Results, Beats Estimates By $0.01 EPS

Stag Industrial (NYSE:STAG) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01, FiscalAI reports. Stag Industrial had a net margin of 28.25% and a return on equity of 6.80%. The company had revenue of $224.37 million during the quarter, compared to analysts’ expectations of $223.04 million.

Stag Industrial Price Performance

NYSE:STAG traded up $0.05 during mid-day trading on Tuesday, hitting $40.69. 2,842,930 shares of the company’s stock traded hands, compared to its average volume of 1,431,532. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market cap of $7.78 billion, a PE ratio of 31.54 and a beta of 0.97. The firm’s 50 day simple moving average is $38.79 and its 200 day simple moving average is $38.34. Stag Industrial has a 1 year low of $33.72 and a 1 year high of $42.61.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Stag Industrial

Several hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of 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 purchasing an additional 142,132 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Stag Industrial by 4.3% in the second quarter. Alliancebernstein L.P. now owns 3,950,923 shares of the real estate investment trust’s stock valued at $143,339,000 after buying an additional 162,887 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Stag Industrial by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,418,556 shares of the real estate investment trust’s stock valued at $125,666,000 after buying an additional 120,460 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Stag Industrial by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,869,553 shares of the real estate investment trust’s stock valued at $105,488,000 after buying an additional 37,888 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Stag Industrial by 27.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,901,227 shares of the real estate investment trust’s stock worth $69,889,000 after acquiring an additional 405,716 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Stag Industrial Company 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.