FY2024 EPS Estimates for STAG Industrial Boosted by Wedbush

STAG Industrial, Inc. (NYSE:STAG) – Equities researchers at Wedbush increased their FY2024 EPS estimates for STAG Industrial in a research report issued to clients and investors on Monday, November 11th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $2.40 for the year, up from their prior estimate of $2.38. Wedbush currently has a “Outperform” rating and a $45.00 target price on the stock. The consensus estimate for STAG Industrial’s current full-year earnings is $2.39 per share. Wedbush also issued estimates for STAG Industrial’s Q4 2024 earnings at $0.60 EPS.

Several other equities research analysts have also issued reports on the stock. Barclays dropped their target price on shares of STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. 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 research report on Monday, November 4th. Finally, Evercore ISI lifted their target price on shares of STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, STAG Industrial has an average rating of “Hold” and a consensus price target of $41.13.

STAG Industrial Price Performance

STAG stock opened at $37.14 on Wednesday. STAG Industrial has a 12 month low of $34.09 and a 12 month high of $41.63. The firm has a market capitalization of $6.77 billion, a P/E ratio of 37.52 and a beta of 1.09. 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 firm has a 50 day moving average of $38.27 and a 200-day moving average of $37.59.

Institutional Investors Weigh In On STAG Industrial

A number of hedge funds have recently made changes to their positions in STAG. BNP Paribas Financial Markets increased its stake in shares of STAG Industrial by 169.6% in the third quarter. BNP Paribas Financial Markets now owns 132,412 shares of the real estate investment trust’s stock worth $5,176,000 after buying an additional 83,296 shares during the period. FMR LLC increased its stake in shares of STAG Industrial by 145.5% in the third 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 period. Bank of Montreal Can increased its stake in shares of STAG Industrial by 330.5% in the third quarter. Bank of Montreal Can now owns 1,346,149 shares of the real estate investment trust’s stock worth $52,823,000 after buying an additional 1,033,485 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of STAG Industrial in the third quarter worth $244,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of STAG Industrial by 16.0% in the third quarter. Daiwa Securities Group Inc. now owns 242,533 shares of the real estate investment trust’s stock worth $9,481,000 after buying an additional 33,531 shares during the period. 88.67% of the stock is currently owned by institutional investors.

STAG Industrial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.1233 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.98%. STAG Industrial’s payout ratio is 149.49%.

About STAG Industrial

We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.