Zacks Investment Research Upgrades Stag Industrial Inc. (STAG) to Buy
Stag Industrial Inc. (NYSE:STAG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $26.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 10.12% from the company’s current price.
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. “
A number of other equities analysts also recently weighed in on STAG. DA Davidson increased their price target on shares of Stag Industrial from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Royal Bank Of Canada increased their price target on shares of Stag Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. RBC Capital Markets reaffirmed an “outperform” rating and set a $26.00 price target (up previously from $22.00) on shares of Stag Industrial in a research note on Friday, August 5th. Jefferies Group reaffirmed a “hold” rating on shares of Stag Industrial in a research note on Thursday, August 18th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $23.50 price target on shares of Stag Industrial in a research note on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Stag Industrial currently has a consensus rating of “Buy” and a consensus price target of $24.77.
Stag Industrial (NYSE:STAG) opened at 23.61 on Tuesday. The firm’s market cap is $1.78 billion. The company’s 50 day moving average is $22.83 and its 200-day moving average is $23.41. Stag Industrial has a 52 week low of $14.97 and a 52 week high of $25.51.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $62.60 million for the quarter, compared to the consensus estimate of $11.01 million. Stag Industrial had a negative net margin of 7.25% and a negative return on equity of 2.54%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Equities analysts expect that Stag Industrial will post $1.56 earnings per share for the current year.
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In other news, CEO Benjamin S. Butcher purchased 2,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average cost of $23.81 per share, with a total value of $47,620.00. Following the acquisition, the chief executive officer now owns 72,088 shares in the company, valued at $1,716,415.28. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Larry T. Guillemette purchased 10,500 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were purchased at an average cost of $24.91 per share, with a total value of $261,555.00. Following the completion of the acquisition, the director now 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.
A number of large investors have recently added to or reduced their stakes in STAG. US Bancorp DE raised its stake in Stag Industrial by 20.9% in the third quarter. US Bancorp DE now owns 6,184 shares of the company’s stock worth $152,000 after buying an additional 1,071 shares during the last quarter. Advisory Services Network LLC raised its position 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 valued at $150,000 after buying an additional 2,027 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Stag Industrial by 110.0% in the third quarter. BNP Paribas Arbitrage SA now owns 6,445 shares of the company’s stock valued at $158,000 after buying an additional 3,376 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Stag Industrial during the second quarter valued at $192,000. Finally, ProShare Advisors LLC bought a new position in shares of Stag Industrial during the second quarter valued at $200,000. 76.84% of the stock is owned by institutional investors and hedge funds.
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.
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