Wedge Capital Management L L P NC cut its position in shares of Stag Industrial Inc. (NYSE:STAG) by 85.4% during the second quarter, Holdings Channel reports. The firm owned 287,240 shares of the company’s stock after selling 1,676,807 shares during the period. Wedge Capital Management L L P NC’s holdings in Stag Industrial were worth $12,888,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Bridge Creek Capital Management LLC raised its stake in shares of Stag Industrial by 1.2% in the second quarter. Bridge Creek Capital Management LLC now owns 231,904 shares of the company’s stock worth $5,522,000 after buying an additional 2,842 shares during the period. Advisory Services Network LLC raised its stake in shares of Stag Industrial by 47.5% in the second quarter. Advisory Services Network LLC now owns 6,294 shares of the company’s stock worth $150,000 after buying an additional 2,027 shares during the period. Monarch Partners Asset Management LLC raised its stake in shares of Stag Industrial by 17.1% in the second quarter. Monarch Partners Asset Management LLC now owns 830,400 shares of the company’s stock worth $19,772,000 after buying an additional 121,160 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Stag Industrial during the second quarter worth $192,000. Finally, Prospera Financial Services Inc raised its stake in shares of Stag Industrial by 10.9% in the second quarter. Prospera Financial Services Inc now owns 18,745 shares of the company’s stock worth $446,000 after buying an additional 1,845 shares during the period. Institutional investors and hedge funds own 76.99% of the company’s stock.
Shares of Stag Industrial Inc. (NYSE:STAG) traded up 0.39% during mid-day trading on Friday, hitting $23.15. The company had a trading volume of 595,044 shares. The firm’s 50 day moving average is $23.89 and its 200-day moving average is $22.80. Stag Industrial Inc. has a 12-month low of $14.97 and a 12-month high of $25.51. The firm’s market cap is $1.65 billion.
Stag Industrial (NYSE:STAG) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. Stag Industrial had a negative return on equity of 3.09% and a negative net margin of 9.21%. The business earned $60.24 million during the quarter, compared to analysts’ expectations of $54.24 million. During the same quarter in the previous year, the firm earned $0.36 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. On average, equities analysts expect that Stag Industrial Inc. will post $1.56 EPS for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be given a dividend of $0.1158 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.39 annualized dividend and a dividend yield of 6.00%. Stag Industrial’s dividend payout ratio is presently -272.55%.
A number of equities research analysts have weighed in on the company. Capital One Financial Corp. upgraded Stag Industrial from an “equal weight” rating to an “overweight” rating in a research note on Friday. Cantor Fitzgerald set a $24.00 price objective on Stag Industrial and gave the company a “hold” rating in a research note on Thursday. Robert W. Baird reiterated an “outperform” rating and issued a $26.00 target price on shares of Stag Industrial in a research report on Friday, August 26th. Jefferies Group reiterated a “hold” rating on shares of Stag Industrial in a research report on Thursday, August 18th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $26.00 target price (up previously from $22.00) on shares of Stag Industrial in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $24.05.
In other Stag Industrial news, CEO Benjamin S. Butcher acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average price of $23.81 per share, with a total value of $47,620.00. Following the transaction, the chief executive officer now owns 72,088 shares of the company’s stock, valued at $1,716,415.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Larry T. Guillemette acquired 10,500 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were acquired at an average cost of $24.91 per share, with a total value of $261,555.00. Following the transaction, the director now directly owns 11,882 shares in the company, valued at approximately $295,980.62. The disclosure for this purchase can be found here. Corporate insiders own 2.10% of the company’s stock.
Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company focuses on the acquisition and operation of single-tenant industrial properties across the United States. The Company owns approximately 290 buildings in over 40 states with approximately 54.7 million rentable square feet, consisting of over 220 warehouse/distribution buildings, approximately 50 light manufacturing buildings and over 20 flex/office buildings.