Raymond James Financial Inc. acquired a new position in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,701,996 shares of the real estate investment trust's stock, valued at approximately $57,561,000. Raymond James Financial Inc. owned about 0.93% of STAG Industrial as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its position in shares of STAG Industrial by 0.8% in the fourth quarter. Arizona State Retirement System now owns 52,852 shares of the real estate investment trust's stock valued at $1,787,000 after acquiring an additional 423 shares during the period. Verdence Capital Advisors LLC boosted its holdings in STAG Industrial by 7.0% in the 4th quarter. Verdence Capital Advisors LLC now owns 10,324 shares of the real estate investment trust's stock valued at $349,000 after purchasing an additional 676 shares during the period. Aigen Investment Management LP grew its position in STAG Industrial by 180.6% during the fourth quarter. Aigen Investment Management LP now owns 23,929 shares of the real estate investment trust's stock worth $809,000 after buying an additional 15,401 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in STAG Industrial in the 4th quarter valued at approximately $470,000. Finally, M&T Bank Corp raised its holdings in STAG Industrial by 1.6% in the 4th quarter. M&T Bank Corp now owns 28,345 shares of the real estate investment trust's stock valued at $959,000 after acquiring an additional 440 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Barclays lowered their price objective on STAG Industrial from $40.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Royal Bank of Canada dropped their price objective on STAG Industrial from $40.00 to $38.00 and set a "sector perform" rating for the company in a research note on Monday, January 27th. Finally, Raymond James lifted their price target on shares of STAG Industrial from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, STAG Industrial has an average rating of "Moderate Buy" and a consensus price target of $40.38.
View Our Latest Research Report on STAG Industrial
STAG Industrial Price Performance
STAG traded up $0.50 during midday trading on Friday, hitting $35.47. The company had a trading volume of 1,700,094 shares, compared to its average volume of 1,065,892. STAG Industrial, Inc. has a twelve month low of $32.27 and a twelve month high of $41.63. The company has a market capitalization of $6.62 billion, a PE ratio of 34.11 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. The firm's 50-day simple moving average is $34.75 and its 200-day simple moving average is $36.49.
STAG Industrial (NYSE:STAG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.43. STAG Industrial had a net margin of 24.64% and a return on equity of 5.51%. Equities research analysts predict that STAG Industrial, Inc. will post 2.47 EPS for the current fiscal year.
STAG Industrial Increases Dividend
The company also recently disclosed a dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.1242 per share. This is a boost from STAG Industrial's previous dividend of $0.12. This represents a yield of 4.25%. The ex-dividend date of this dividend is Friday, February 28th. STAG Industrial's payout ratio is currently 143.27%.
Insiders Place Their Bets
In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $35.10, for a total value of $1,755,000.00. Following the transaction, the director now owns 9,632 shares of the company's stock, valued at approximately $338,083.20. This represents a 83.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.
STAG Industrial Company Profile
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Free Report)
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.
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