FY2024 EPS Estimates for STAG Industrial Lifted by Analyst

STAG Industrial, Inc. (NYSE:STAG) – Equities researchers at Wedbush lifted their FY2024 earnings estimates for STAG Industrial in a report released on Monday, January 27th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings per share of $2.45 for the year, up from their previous forecast of $2.40. The consensus estimate for STAG Industrial’s current full-year earnings is $2.40 per share.

STAG has been the topic of several other reports. Barclays reduced their target price on STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Royal Bank of Canada decreased their price objective on shares of STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday. Raymond James lifted their target price on shares of STAG Industrial from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price target on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

STAG Industrial Stock Performance

Shares of STAG stock opened at $33.91 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.87. The company has a market cap of $6.18 billion, a PE ratio of 34.26 and a beta of 1.09. STAG Industrial has a 12-month low of $32.27 and a 12-month high of $41.63. The business’s fifty day simple moving average is $34.77 and its 200-day simple moving average is $37.38.

Hedge Funds Weigh In On STAG Industrial

Several institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. lifted its holdings in STAG Industrial by 54.1% in the third quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 306 shares during the period. Sugar Maple Asset Management LLC acquired a new position in shares of STAG Industrial in the 4th quarter valued at $43,000. Coastline Trust Co purchased a new stake in STAG Industrial during the third quarter worth $55,000. GAMMA Investing LLC grew its position in STAG Industrial by 72.7% during the third quarter. GAMMA Investing LLC now owns 1,566 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 659 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in STAG Industrial in the second quarter valued at $57,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

STAG Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.1242 per share. The ex-dividend date is Monday, March 31st. This represents a $1.49 annualized dividend and a dividend yield of 4.39%. STAG Industrial’s dividend payout ratio (DPR) is presently 149.49%.

About STAG Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.