Pacific Heights Asset Management LLC Makes New Investment in Stag Industrial, Inc. $STAG

Pacific Heights Asset Management LLC bought a new stake in shares of Stag Industrial, Inc. (NYSE:STAG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 500,000 shares of the real estate investment trust’s stock, valued at approximately $19,030,000. Pacific Heights Asset Management LLC owned 0.26% of Stag Industrial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in Stag Industrial by 17.6% in the first quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust’s stock worth $359,000 after purchasing an additional 1,491 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Stag Industrial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust’s stock valued at $60,391,000 after buying an additional 451,355 shares during the period. Empowered Funds LLC purchased a new position in shares of Stag Industrial in the 1st quarter worth $229,000. EverSource Wealth Advisors LLC boosted its stake in shares of Stag Industrial by 270.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 1,048 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Stag Industrial by 173.4% in the second quarter. First Trust Advisors LP now owns 177,756 shares of the real estate investment trust’s stock worth $6,449,000 after acquiring an additional 112,747 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on STAG shares. Wall Street Zen cut Stag Industrial from a “hold” rating to a “sell” rating in a research report on Monday. Robert W. Baird set a $138.00 price target on Stag Industrial in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stag Industrial in a research report on Friday, July 31st. Raymond James Financial started coverage on shares of Stag Industrial in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $44.00 price objective on the stock. Finally, Barclays increased their price objective on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Three investment 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’s stock. Based on data from MarketBeat.com, Stag Industrial presently has an average rating of “Hold” and a consensus target price of $50.50.

Stag Industrial Price Performance

Shares of Stag Industrial stock opened at $37.10 on Friday. The stock has a market cap of $7.15 billion, a P/E ratio of 28.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.76 and a current ratio of 1.76. The stock’s fifty day moving average is $38.60 and its 200 day moving average is $38.28. Stag Industrial, Inc. has a one year low of $34.40 and a one year high of $42.61.

Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.37). Stag Industrial had a net margin of 28.04% and a return on equity of 6.79%. The company had revenue of $224.37 million for the quarter, compared to the consensus estimate of $223.04 million. During the same period in the prior year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that Stag Industrial, Inc. will post 2.63 earnings per share for the current year.

Stag Industrial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.3875 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.55 dividend on an annualized basis and a yield of 4.2%. Stag Industrial’s dividend payout ratio (DPR) is presently 119.23%.

Stag Industrial 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.