Bank of Montreal Can Buys 1,033,485 Shares of STAG Industrial, Inc. (NYSE:STAG)

Bank of Montreal Can lifted its holdings in STAG Industrial, Inc. (NYSE:STAG - Free Report) by 330.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,346,149 shares of the real estate investment trust's stock after buying an additional 1,033,485 shares during the quarter. Bank of Montreal Can owned approximately 0.74% of STAG Industrial worth $52,823,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Earnest Partners LLC increased its stake in STAG Industrial by 2.2% during the 2nd quarter. Earnest Partners LLC now owns 3,652,984 shares of the real estate investment trust's stock valued at $131,727,000 after buying an additional 78,189 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of STAG Industrial by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,169,164 shares of the real estate investment trust's stock worth $123,883,000 after purchasing an additional 227,629 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of STAG Industrial by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,865,673 shares of the real estate investment trust's stock worth $103,333,000 after purchasing an additional 167,532 shares during the last quarter. Boston Trust Walden Corp grew its stake in shares of STAG Industrial by 1.0% in the 2nd quarter. Boston Trust Walden Corp now owns 2,552,752 shares of the real estate investment trust's stock worth $92,052,000 after purchasing an additional 25,779 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of STAG Industrial by 7.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,776,042 shares of the real estate investment trust's stock worth $64,045,000 after purchasing an additional 115,480 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

STAG Industrial Trading Up 0.9 %

STAG traded up $0.33 during mid-day trading on Thursday, hitting $37.34. The stock had a trading volume of 742,717 shares, compared to its average volume of 1,073,649. The stock's fifty day simple moving average is $37.65 and its 200-day simple moving average is $37.69. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 37.72 and a beta of 1.09. STAG Industrial, Inc. has a 1-year low of $34.09 and a 1-year high of $41.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42.

STAG Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.1233 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.96%. STAG Industrial's dividend payout ratio is presently 149.49%.

Wall Street Analyst Weigh In

Several brokerages have commented on STAG. Barclays decreased 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 report on Monday, October 28th. Wells Fargo & Company cut their price objective on STAG Industrial from $41.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, November 4th. Wedbush lifted their target price on shares of STAG Industrial from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Finally, Evercore ISI increased their price target on STAG Industrial from $43.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $41.13.

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.