STAG Industrial FY2024 EPS Forecast Increased by Wedbush

STAG Industrial, Inc. (NYSE:STAG) – Investment analysts at Wedbush raised their FY2024 EPS estimates for shares of STAG Industrial in a research report issued to clients and investors on Monday, January 27th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $2.45 per share for the year, up from their prior forecast of $2.40. The consensus estimate for STAG Industrial’s current full-year earnings is $2.40 per share.

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

STAG Industrial Stock Up 1.8 %

Shares of NYSE STAG opened at $34.49 on Wednesday. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 34.83 and a beta of 1.09. STAG Industrial has a 52 week low of $32.27 and a 52 week high of $41.63. The firm has a 50-day moving average price of $34.74 and a 200 day moving average price of $37.36. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.87.

Institutional Investors Weigh In On STAG Industrial

Hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in STAG Industrial by 145.5% in the 3rd quarter. FMR LLC now owns 6,936,107 shares of the real estate investment trust’s stock worth $271,132,000 after buying an additional 4,111,268 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of STAG Industrial by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,403,540 shares of the real estate investment trust’s stock worth $133,077,000 after acquiring an additional 21,925 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in STAG Industrial by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,169,164 shares of the real estate investment trust’s stock valued at $123,883,000 after purchasing an additional 227,629 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in STAG Industrial by 4.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,830,394 shares of the real estate investment trust’s stock worth $61,905,000 after purchasing an additional 79,762 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in STAG Industrial by 36.0% during the third quarter. Westfield Capital Management Co. LP now owns 1,670,586 shares of the real estate investment trust’s stock worth $65,303,000 after purchasing an additional 442,618 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

STAG Industrial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.1242 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.49 annualized dividend and a dividend yield of 4.32%. STAG Industrial’s dividend payout ratio is currently 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.