Bank of New York Mellon Corp Sells 56,536 Shares of STAG Industrial, Inc. (NYSE:STAG)

Bank of New York Mellon Corp reduced its position in STAG Industrial, Inc. (NYSE:STAG - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,843,519 shares of the real estate investment trust's stock after selling 56,536 shares during the quarter. Bank of New York Mellon Corp owned about 1.01% of STAG Industrial worth $62,348,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new stake in shares of STAG Industrial during the 4th quarter valued at approximately $43,000. Coastline Trust Co bought a new stake in shares of STAG Industrial during the 3rd quarter valued at approximately $55,000. Hilltop National Bank grew its holdings in shares of STAG Industrial by 19.2% during the 4th quarter. Hilltop National Bank now owns 2,243 shares of the real estate investment trust's stock valued at $76,000 after purchasing an additional 362 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of STAG Industrial by 20.7% during the 4th quarter. Principal Securities Inc. now owns 2,977 shares of the real estate investment trust's stock valued at $101,000 after purchasing an additional 510 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of STAG Industrial during the 4th quarter valued at approximately $109,000. 88.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STAG. Royal Bank of Canada decreased their price target on shares of STAG Industrial from $40.00 to $38.00 and set a "sector perform" rating on the stock in a report on Monday, January 27th. Raymond James lifted their target price on shares of STAG Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Finally, Barclays cut their target price on shares of 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, STAG Industrial has an average rating of "Moderate Buy" and a consensus target price of $40.38.

Remove Ads

STAG Industrial Trading Up 0.7 %

Shares of NYSE STAG traded up $0.25 during midday trading on Friday, reaching $36.81. The stock had a trading volume of 1,503,484 shares, compared to its average volume of 1,307,370. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 35.39 and a beta of 1.05. STAG Industrial, Inc. has a twelve month low of $32.27 and a twelve month high of $41.63. 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 company's 50 day moving average price is $34.53 and its 200 day moving average price is $36.60.

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 (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that STAG Industrial, Inc. will post 2.47 EPS for the current year.

STAG Industrial Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.1242 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 4.25%. This is an increase from STAG Industrial's previous dividend of $0.12. STAG Industrial's payout ratio is 143.27%.

Insider Transactions at STAG Industrial

In other news, Director Benjamin S. Butcher sold 50,000 shares of STAG Industrial stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $35.10, for a total value of $1,755,000.00. Following the completion of the sale, the director now owns 9,632 shares in the company, valued at $338,083.20. The trade was a 83.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company's stock.

STAG Industrial Profile

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.