Franklin Resources Inc. lowered its holdings in STAG Industrial, Inc. (NYSE:STAG - Free Report) by 31.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 372,095 shares of the real estate investment trust's stock after selling 171,482 shares during the quarter. Franklin Resources Inc. owned 0.20% of STAG Industrial worth $13,909,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC grew its holdings in shares of STAG Industrial by 122.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,583 shares of the real estate investment trust's stock worth $787,000 after purchasing an additional 11,859 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in STAG Industrial by 4.4% during the third quarter. Coldstream Capital Management Inc. now owns 54,517 shares of the real estate investment trust's stock worth $2,131,000 after buying an additional 2,306 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of STAG Industrial by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,403,540 shares of the real estate investment trust's stock worth $133,077,000 after buying an additional 21,925 shares in the last quarter. Guardian Wealth Management Inc. raised its stake in shares of STAG Industrial by 2.1% in the third quarter. Guardian Wealth Management Inc. now owns 46,446 shares of the real estate investment trust's stock valued at $1,816,000 after acquiring an additional 965 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of STAG Industrial by 1.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 331,990 shares of the real estate investment trust's stock worth $12,977,000 after acquiring an additional 3,944 shares in the last quarter. Institutional investors own 88.67% of the company's stock.
STAG Industrial Trading Up 2.2 %
NYSE:STAG traded up $0.72 during mid-day trading on Friday, hitting $33.94. The company had a trading volume of 3,790,766 shares, compared to its average volume of 1,084,531. The firm has a market cap of $6.18 billion, a P/E ratio of 34.28 and a beta of 1.07. STAG Industrial, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.63. The business's fifty day moving average is $36.74 and its two-hundred day moving average is $37.71. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.42 and a current ratio of 1.42.
STAG Industrial Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.1233 dividend. This represents a $1.48 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Tuesday, December 31st. STAG Industrial's payout ratio is presently 149.49%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on STAG shares. Barclays reduced their price objective on STAG Industrial from $42.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Raymond James upped 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. Evercore ISI lifted their target price on STAG Industrial from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company decreased their price target on STAG Industrial from $41.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, STAG Industrial has a consensus rating of "Hold" and a consensus price target of $41.00.
Check Out Our Latest Stock Analysis on STAG Industrial
About STAG Industrial
(
Free Report)
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.
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