Employees Retirement System of Texas lifted its holdings in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 426.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 216,000 shares of the real estate investment trust's stock after acquiring an additional 175,000 shares during the quarter. Employees Retirement System of Texas owned 0.12% of STAG Industrial worth $7,305,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the business. Sugar Maple Asset Management LLC bought a new position in STAG Industrial during the 4th quarter valued at $43,000. Hilltop National Bank raised its stake in shares of STAG Industrial by 19.2% in 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 in the last quarter. Principal Securities Inc. lifted its position in shares of STAG Industrial by 20.7% during the fourth quarter. Principal Securities Inc. now owns 2,977 shares of the real estate investment trust's stock worth $101,000 after purchasing an additional 510 shares during the last quarter. Aew Capital Management L P grew its stake in STAG Industrial by 52.4% in the fourth quarter. Aew Capital Management L P now owns 3,200 shares of the real estate investment trust's stock worth $108,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in STAG Industrial in the fourth quarter valued at about $109,000. Institutional investors and hedge funds own 88.67% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have commented on the company. Barclays reduced their target price on STAG Industrial from $40.00 to $37.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada reduced their price objective on STAG Industrial from $40.00 to $38.00 and set a "sector perform" rating on the stock in a research note on Monday, January 27th. Four investment 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, the stock currently has an average rating of "Hold" and an average target price of $40.14.
Read Our Latest Stock Analysis on STAG
Insider Activity
In related news, Director Benjamin S. Butcher sold 50,000 shares of the stock in a transaction dated 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 transaction, the director now owns 9,632 shares in the company, valued at $338,083.20. This represents a 83.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company's stock.
STAG Industrial Stock Performance
NYSE:STAG traded up $0.49 during midday trading on Friday, reaching $31.39. 1,612,296 shares of the company traded hands, compared to its average volume of 1,192,725. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 30.18 and a beta of 0.96. The company has a fifty day moving average price of $34.83 and a 200 day moving average price of $35.54. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.36 and a quick ratio of 1.36. STAG Industrial, Inc. has a twelve month low of $28.61 and a twelve month high of $41.63.
STAG Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.43. STAG Industrial had a net margin of 24.64% and a return on equity of 5.51%. On average, analysts expect that STAG Industrial, Inc. will post 2.47 EPS for the current fiscal year.
STAG Industrial Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.1242 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.49 annualized dividend and a dividend yield of 4.75%. STAG Industrial's payout ratio is currently 143.27%.
About STAG Industrial
(
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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