Stag Industrial (NYSE:STAG) Stock Gets Price Target Cut from Citigroup

Stag Industrial (NYSE:STAG) had its price objective trimmed by Citigroup from $40.00 to $39.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Stag Industrial from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 1st. Wall Street Zen raised shares of Stag Industrial from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Evercore reissued an “outperform” rating on shares of Stag Industrial in a report on Monday, September 14th. Weiss Ratings cut shares of Stag Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Finally, Robert W. Baird raised shares of Stag Industrial from a “neutral” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Monday, August 31st. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.00.

Stag Industrial Stock Performance

Shares of STAG opened at $36.87 on Thursday. The company has a market cap of $7.11 billion, a PE ratio of 26.15 and a beta of 0.95. The company has a current ratio of 1.13, a quick ratio of 1.76 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average price of $36.73 and a 200-day moving average price of $37.88. Stag Industrial has a 12-month low of $35.14 and a 12-month high of $42.61.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.29). The business had revenue of $231.05 million for the quarter, compared to analysts’ expectations of $227.16 million. Stag Industrial had a return on equity of 7.28% and a net margin of 29.88%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. As a group, equities analysts forecast that Stag Industrial will post 2.64 earnings per share for the current fiscal year.

Stag Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.3875 per share. The ex-dividend date is Thursday, December 31st. This represents a $1.55 annualized dividend and a dividend yield of 4.2%. Stag Industrial’s dividend payout ratio is 109.93%.

Hedge Funds Weigh In On Stag Industrial

Large investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC raised its position in Stag Industrial by 1.3% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 27,852 shares of the real estate investment trust’s stock worth $997,000 after buying an additional 344 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Stag Industrial by 1.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 39,931 shares of the real estate investment trust’s stock valued at $1,430,000 after acquiring an additional 400 shares during the period. Next Level Wealth Planning LLC bought a new position in Stag Industrial during the 3rd quarter valued at about $36,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in Stag Industrial by 574.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,382,316 shares of the real estate investment trust’s stock valued at $49,501,000 after acquiring an additional 1,177,250 shares during the period. Finally, Vise Technologies Inc. boosted its holdings in shares of Stag Industrial by 73.0% during the 3rd quarter. Vise Technologies Inc. now owns 10,396 shares of the real estate investment trust’s stock valued at $372,000 after acquiring an additional 4,387 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

About Stag Industrial

STAG Industrial, Inc is a real estate investment trust (REIT) that owns, operates and acquires industrial properties throughout the United States. The company focuses primarily on single-tenant properties, which it leases to businesses for uses such as warehousing, distribution, manufacturing and logistics.

Its portfolio includes a range of industrial facilities serving tenants across diverse industries and geographic markets. STAG Industrial’s business activities include property acquisition, leasing, management and development, with an emphasis on facilities that support supply-chain and operating requirements.

Founded in 2010 and headquartered in Boston, Massachusetts, STAG Industrial became a publicly traded company in 2011.