Stag Industrial Inc (STAG) Short Interest Update

Stag Industrial Inc (NYSE:STAG) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 2,499,234 shares, a decline of 47.9% from the February 28th total of 4,797,447 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 763,177 shares, the days-to-cover ratio is presently 3.3 days.

In related news, CEO Benjamin S. Butcher sold 68,180 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $26.41, for a total transaction of $1,800,633.80. Following the completion of the transaction, the chief executive officer now directly owns 140,268 shares in the company, valued at $3,704,477.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephen C. Mecke sold 30,000 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $26.41, for a total transaction of $792,300.00. Following the transaction, the chief operating officer now owns 32,000 shares of the company’s stock, valued at $845,120. The disclosure for this sale can be found here. Insiders have sold 165,069 shares of company stock worth $4,359,472 over the last three months. Corporate insiders own 2.00% of the company’s stock.

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Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Stag Industrial by 4.0% in the fourth quarter. BlackRock Inc. now owns 8,387,711 shares of the real estate investment trust’s stock worth $229,236,000 after acquiring an additional 326,056 shares during the period. Alliancebernstein L.P. raised its position in shares of Stag Industrial by 28.5% in the fourth quarter. Alliancebernstein L.P. now owns 4,635,191 shares of the real estate investment trust’s stock worth $126,680,000 after acquiring an additional 1,027,966 shares during the period. Westwood Holdings Group Inc. raised its position in shares of Stag Industrial by 3.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,543,789 shares of the real estate investment trust’s stock worth $69,522,000 after acquiring an additional 82,502 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Stag Industrial by 2.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,229,461 shares of the real estate investment trust’s stock worth $60,931,000 after acquiring an additional 59,861 shares during the period. Finally, Millennium Management LLC raised its position in shares of Stag Industrial by 80.8% in the fourth quarter. Millennium Management LLC now owns 1,305,671 shares of the real estate investment trust’s stock worth $35,684,000 after acquiring an additional 583,560 shares during the period. Institutional investors and hedge funds own 84.39% of the company’s stock.

A number of research firms recently issued reports on STAG. JPMorgan Chase decreased their target price on shares of Stag Industrial from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, March 19th. Royal Bank of Canada restated a “buy” rating and set a $27.00 target price on shares of Stag Industrial in a research report on Thursday. Cantor Fitzgerald set a $29.00 target price on shares of Stag Industrial and gave the company a “hold” rating in a research report on Thursday, February 15th. DA Davidson restated a “neutral” rating on shares of Stag Industrial in a research report on Friday, February 16th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating and set a $32.00 target price on shares of Stag Industrial in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Stag Industrial has an average rating of “Buy” and an average target price of $29.19.

Shares of Stag Industrial stock opened at $23.92 on Monday. The stock has a market capitalization of $2,325.86, a price-to-earnings ratio of 14.15, a PEG ratio of 2.86 and a beta of 1.14. Stag Industrial has a fifty-two week low of $22.42 and a fifty-two week high of $28.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.13 and a quick ratio of 0.13.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.42. The business had revenue of $81.30 million during the quarter, compared to the consensus estimate of $79.83 million. Stag Industrial had a net margin of 10.38% and a return on equity of 2.92%. The company’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share. sell-side analysts predict that Stag Industrial will post 1.81 earnings per share for the current year.

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Stag Industrial Company Profile

STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.

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