Canton Hathaway LLC Purchases New Stake in Stag Industrial Inc (NYSE:STAG)

Canton Hathaway LLC acquired a new stake in Stag Industrial Inc (NYSE:STAG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,100 shares of the real estate investment trust’s stock, valued at approximately $140,000.

A number of other institutional investors and hedge funds have also made changes to their positions in STAG. Schroder Investment Management Group boosted its stake in shares of Stag Industrial by 418.2% during the 2nd quarter. Schroder Investment Management Group now owns 64,205 shares of the real estate investment trust’s stock worth $1,751,000 after acquiring an additional 51,816 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of Stag Industrial by 7.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 44,891 shares of the real estate investment trust’s stock worth $1,222,000 after acquiring an additional 3,018 shares in the last quarter. Standard Life Aberdeen plc purchased a new stake in shares of Stag Industrial during the 2nd quarter worth approximately $1,151,000. Nisa Investment Advisors LLC boosted its stake in shares of Stag Industrial by 15.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 29,670 shares of the real estate investment trust’s stock worth $808,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Stag Industrial by 16.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 527,931 shares of the real estate investment trust’s stock worth $14,376,000 after acquiring an additional 73,424 shares in the last quarter. 84.24% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research lowered Stag Industrial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.20.

STAG traded down $0.53 during trading on Friday, hitting $26.37. The company’s stock had a trading volume of 777,034 shares, compared to its average volume of 705,419. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $2.81 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 2.99 and a beta of 1.08. Stag Industrial Inc has a twelve month low of $22.42 and a twelve month high of $29.07.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company had revenue of $85.47 million during the quarter, compared to the consensus estimate of $84.32 million. Stag Industrial had a return on equity of 5.08% and a net margin of 19.24%. As a group, equities research analysts forecast that Stag Industrial Inc will post 1.78 earnings per share for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.118 per share. The ex-dividend date is Tuesday, October 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.37%. Stag Industrial’s payout ratio is 84.02%.

About Stag Industrial

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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Institutional Ownership by Quarter for Stag Industrial (NYSE:STAG)

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