Evercore ISI Group Downgrades Stag Industrial Inc to Hold

Brokerage firm Evercore ISI Group Downgrades its rating on Stag Industrial Inc(NYSE:STAG). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Evercore ISI Group was issued on Jun 13, 2016.

Stag Industrial Inc (STAG) shares turned negative on Fridays trading session with the shares closing down -0.13 points or -0.57% at a volume of 7,10,580. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $22.99. The peak price level was also seen at $22.99 while the days lowest was $22.66. Finally the shares closed at $22.85. The 52-week high of the shares is $22.99 while the 52-week low is $14.97. According to the latest information available, the market cap of the company is $1,558 M.

Stag Industrial Inc(STAG) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $60.87M. Analysts had an estimated revenue of $52.97M. Earnings per share were $0.39. Analysts had estimated an EPS of $0.38.

Several Insider Transactions has been reported to the SEC. On May 18, 2016, Francis X Iii Jacoby (director) sold 2,000 shares at $26.25 per share price.Also, On Dec 16, 2015, Benjamin S Butcher (CEO) purchased 10,000 shares at $18.68 per share price.On Oct 8, 2015, Stephen C Mecke (COO and EVP) sold 2,000 shares at $19.00 per share price, according to the Form-4 filing with the securities and exchange commission.

STAG Industrial Inc. is focused on the acquisition and operation of single-tenant industrial properties throughout the United States. As of December 31 2014 The Company owned 248 buildings in 36 states with approximately 47.0 million rentable square feet consisting of 178 warehouse/distribution buildings 50 light manufacturing buildings and 20 flex/office buildings. The Company owns two developable vacant land parcels adjacent to two of its buildings. As of December 31 2014 its buildings were 94.9% leased to 227 tenants with no single tenant accounting for more than 2.3% of its total annualized rent and no single industry accounting for more than 12.1% of its total annualized rent.

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