STAG Industrial FY2024 EPS Forecast Increased by Wedbush

STAG Industrial, Inc. (NYSE:STAG) – Equities researchers at Wedbush lifted their FY2024 EPS estimates for shares of STAG Industrial in a research note issued on Monday, November 11th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $2.40 per share for the year, up from their prior forecast of $2.38. Wedbush has a “Outperform” rating and a $45.00 price target 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.

STAG has been the topic of a number of other reports. Wells Fargo & Company cut their target price on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Evercore ISI upped their price objective on shares of STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Finally, Barclays dropped their target price on shares of STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.13.

STAG Industrial Price Performance

Shares of NYSE STAG opened at $36.13 on Wednesday. The firm has a 50-day moving average of $38.20 and a two-hundred day moving average of $37.58. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 36.49 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. STAG Industrial has a twelve month low of $34.09 and a twelve month high of $41.63.

STAG Industrial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.1233 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, December 31st. STAG Industrial’s dividend payout ratio is currently 149.49%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of STAG Industrial by 145.5% during the 3rd quarter. FMR LLC now owns 6,936,107 shares of the real estate investment trust’s stock valued at $271,132,000 after acquiring an additional 4,111,268 shares in the last quarter. Bank of Montreal Can increased its position in STAG Industrial by 330.5% in the 3rd quarter. Bank of Montreal Can now owns 1,346,149 shares of the real estate investment trust’s stock worth $52,823,000 after purchasing an additional 1,033,485 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of STAG Industrial by 36.0% during the 3rd 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 in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of STAG Industrial during the 2nd quarter valued at about $13,188,000. Finally, Bessemer Group Inc. increased its holdings in STAG Industrial by 69.3% in the first quarter. Bessemer Group Inc. now owns 785,916 shares of the real estate investment trust’s stock worth $30,211,000 after buying an additional 321,785 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

STAG Industrial Company Profile

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.