Zacks Investment Research Upgrades STAG Industrial (NYSE:STAG) to “Buy”

Zacks Investment Research upgraded shares of STAG Industrial (NYSE:STAG) from a hold rating to a buy rating in a research report report published on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $47.00 price target on the real estate investment trust’s stock.

According to Zacks, “STAG Industrial, Inc. operates as a real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States. STAG Industrial, Inc. is based in United States. “

STAG has been the subject of a number of other research reports. Wells Fargo & Company boosted their price target on STAG Industrial from $37.00 to $40.00 and gave the company an overweight rating in a research note on Monday, June 7th. Raymond James boosted their price target on STAG Industrial from $41.00 to $45.00 and gave the company an outperform rating in a research note on Thursday, July 29th. Capital One Financial reaffirmed a buy rating and issued a $44.00 price target on shares of STAG Industrial in a research note on Friday, July 16th. Finally, Royal Bank of Canada boosted their price target on STAG Industrial from $42.00 to $46.00 and gave the company an outperform rating in a research note on Tuesday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, STAG Industrial presently has a consensus rating of Hold and an average price target of $40.00.

STAG opened at $41.60 on Friday. STAG Industrial has a fifty-two week low of $29.34 and a fifty-two week high of $43.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $6.74 billion, a P/E ratio of 37.48, a P/E/G ratio of 4.45 and a beta of 0.90. The stock has a fifty day moving average of $41.11 and a 200-day moving average of $37.59.

STAG Industrial (NYSE:STAG) last posted its quarterly earnings results on Tuesday, July 27th. The real estate investment trust reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.30). The company had revenue of $138.43 million during the quarter, compared to analyst estimates of $134.36 million. STAG Industrial had a net margin of 34.24% and a return on equity of 6.78%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. On average, equities research analysts predict that STAG Industrial will post 2.01 earnings per share for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be paid a dividend of $0.1208 per share. This represents a $1.45 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, September 29th. STAG Industrial’s payout ratio is 76.72%.

In other STAG Industrial news, CEO Benjamin S. Butcher sold 35,000 shares of the business’s stock in a transaction dated Tuesday, August 24th. The stock was sold at an average price of $41.14, for a total transaction of $1,439,900.00. Following the completion of the transaction, the chief executive officer now owns 82,088 shares of the company’s stock, valued at $3,377,100.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its holdings in shares of STAG Industrial by 14.0% during the second quarter. Parametric Portfolio Associates LLC now owns 234,286 shares of the real estate investment trust’s stock worth $8,769,000 after purchasing an additional 28,729 shares during the last quarter. Mariner LLC bought a new stake in shares of STAG Industrial during the second quarter worth about $442,000. Morgan Stanley grew its holdings in shares of STAG Industrial by 33.9% during the second quarter. Morgan Stanley now owns 594,942 shares of the real estate investment trust’s stock worth $22,269,000 after purchasing an additional 150,632 shares during the last quarter. Ibex Wealth Advisors grew its holdings in shares of STAG Industrial by 5.0% during the second quarter. Ibex Wealth Advisors now owns 94,838 shares of the real estate investment trust’s stock worth $3,550,000 after purchasing an additional 4,520 shares during the last quarter. Finally, Waddell & Associates LLC bought a new stake in shares of STAG Industrial during the second quarter worth about $353,000. Institutional investors own 86.35% of the company’s stock.

About STAG Industrial

STAG Industrial, Inc is a real estate investment trust, which focuses on acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.

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