The Vanguard Group, Inc. recently announced the acquisition of new stake in STAG Industrial Inc. (NYSE:STAG). The institutional investor has increased its shareholding in the Real Estate company by 1.96% to 26.06 million shares with purchase of 0.5 million shares. This fresh investment now brings its stake to 14.53% valued currently at $882.76 million. In addition, BlackRock Fund Advisors raised its holdings by 9502.0 to 14.23 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.98% or 84576.0 shares – to 8.69 million shares.
With over 1.26 million STAG Industrial Inc. (STAG) shares trading Tuesday and a closing price of $34.10 on the day, the dollar volume was approximately $43.03 million. The shares have shown a positive half year performance of 4.09% and its price on 05/23/23 lost nearly -1.39%. Currently, there are 179.20M common shares owned by the public and among those 178.93M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for STAG have a consensus price objective of $37.10. The analysts have set the share’s price value over the next 12 months at a high of $42.00 and a low of $33.00. The average price target is 7.96% above its recent price level and a downside to the estimated low will see the stock lose -3.33% over that period. But an upside of 18.81% will see the stock hit the forecast high price target while median target price for the stock is $37.00.
Insiders at the company have transacted a total of 41 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 51,498 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 75,018 shares.
The top 3 mutual fund holders in STAG Industrial Inc. are Vanguard Real Estate Index Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF. Vanguard Real Estate Index Fund owns 7.9 million shares of the company’s stock, all valued at over $267.41 million. The company sold 68461.0 shares recently to bring their total holdings to about 4.40% of the shares outstanding. Vanguard Total Stock Market ETF bought 41768.0 shares to bring its total holdings to over 5.54 million shares at a value of $187.51 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.09% of the shares outstanding.
Shares of STAG Industrial Inc. (NYSE: STAG) opened at $34.40, down -$0.18 from a prior closing price of $34.58. However, the script later moved the day high at 34.77, down -1.39%. The company’s stock has a 5-day price change of -0.38% and -1.22% over the past three months. STAG shares are trading 5.54% year to date (YTD), with the 12-month market performance up to 5.41% higher. It has a 12-month low price of $26.56 and touched a high of $37.15 over the same period. STAG has an average intraday trading volume of 1.98 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.09%, 1.71%, and 4.25% respectively.
Institutional ownership of STAG Industrial Inc. (NYSE: STAG) shares accounts for 88.40% of the company’s 179.20M shares outstanding. Mutual fund holders own 32.45%, while other institutional holders and individual stakeholders account for 56.98% and 0.27% respectively.
It has a market capitalization of $6.12B and a beta (3y monthly) value of 1.01. The stock’s trailing 12-month PE ratio is 34.97, while the earnings-per-share (ttm) stands at $0.97. The company has a PEG of 5.00 and the debt-to-equity ratio at 0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.68% over the week and 1.96% over the month.
Analysts forecast that STAG Industrial Inc. (STAG) will achieve an EPS of $0.17 for the current quarter, $0.18 for the next quarter and $0.72 for 2024. The lowest estimate earnings-per-share for the quarter is $0.17 while analysts give the company a high EPS estimate of $0.17. Comparatively, EPS for the current quarter was $0.18 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.20%, and -9.38% over the next financial year. EPS should shrink at an annualized rate of 7.00% over the next five years, compared to 33.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate STAG Industrial Inc. (STAG) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
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