Renaissance Technologies LLC decreased its holdings in Stag Industrial Inc (NYSE:STAG) by 7.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 229,100 shares of the real estate investment trust’s stock after selling 17,500 shares during the period. Renaissance Technologies LLC’s holdings in Stag Industrial were worth $6,300,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Stag Industrial by 51.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 262,271 shares of the real estate investment trust’s stock valued at $7,212,000 after buying an additional 88,854 shares in the last quarter. Texas Yale Capital Corp. grew its holdings in shares of Stag Industrial by 6.2% during the 3rd quarter. Texas Yale Capital Corp. now owns 48,000 shares of the real estate investment trust’s stock valued at $1,320,000 after purchasing an additional 2,800 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Stag Industrial during the 3rd quarter valued at approximately $1,222,000. Hsbc Holdings PLC grew its holdings in shares of Stag Industrial by 717.5% during the 3rd quarter. Hsbc Holdings PLC now owns 132,401 shares of the real estate investment trust’s stock valued at $3,642,000 after purchasing an additional 116,206 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Stag Industrial during the 3rd quarter valued at approximately $1,284,000. Institutional investors and hedge funds own 83.61% of the company’s stock.
In other Stag Industrial news, COO Stephen C. Mecke sold 13,452 shares of the business’s stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $24.28, for a total transaction of $326,614.56. Following the sale, the chief operating officer now directly owns 15,452 shares of the company’s stock, valued at approximately $375,174.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter S. Fearey sold 6,595 shares of the business’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $24.46, for a total transaction of $161,313.70. The disclosure for this sale can be found here. Insiders have sold a total of 252,334 shares of company stock worth $6,138,541 over the last three months. Insiders own 1.70% of the company’s stock.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.38). The company had revenue of $89.00 million for the quarter, compared to the consensus estimate of $87.49 million. Stag Industrial had a net margin of 14.96% and a return on equity of 3.74%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. Equities research analysts forecast that Stag Industrial Inc will post 1.77 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 28th will be issued a dividend of $0.1192 per share. This represents a $1.43 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Wednesday, February 27th. Stag Industrial’s payout ratio is 84.02%.
STAG has been the topic of several research reports. Zacks Investment Research raised shares of Stag Industrial from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. DA Davidson decreased their price target on shares of Stag Industrial to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, January 1st. Raymond James decreased their price target on shares of Stag Industrial from $29.50 to $28.50 and set an “outperform” rating on the stock in a report on Monday, November 5th. Finally, JMP Securities reaffirmed an “outperform” rating on shares of Stag Industrial in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Stag Industrial has a consensus rating of “Hold” and a consensus price target of $28.07.
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Stag Industrial Profile
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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