Legal & General Group Plc cut its stake in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,139,142 shares of the real estate investment trust's stock after selling 114,851 shares during the period. Legal & General Group Plc owned 0.63% of STAG Industrial worth $38,526,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of STAG Industrial during the fourth quarter worth approximately $75,471,000. FMR LLC raised its holdings in STAG Industrial by 30.1% in the 4th quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust's stock valued at $305,224,000 after acquiring an additional 2,088,839 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of STAG Industrial during the 4th quarter valued at $57,561,000. Franklin Resources Inc. grew its holdings in shares of STAG Industrial by 114.3% during the 4th quarter. Franklin Resources Inc. now owns 797,457 shares of the real estate investment trust's stock worth $26,970,000 after purchasing an additional 425,362 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of STAG Industrial by 19.3% in the fourth quarter. Prudential Financial Inc. now owns 1,809,679 shares of the real estate investment trust's stock worth $61,203,000 after purchasing an additional 292,252 shares during the period. Institutional investors own 88.67% of the company's stock.
Insider Buying and Selling
In other news, Director Benjamin S. Butcher sold 50,000 shares of STAG Industrial stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $35.10, for a total transaction of $1,755,000.00. Following the completion of the sale, the director now owns 9,632 shares in the company, valued at approximately $338,083.20. This trade represents a 83.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.
STAG Industrial Stock Performance
Shares of STAG Industrial stock traded up $0.64 during mid-day trading on Thursday, hitting $33.15. 1,047,100 shares of the stock were exchanged, compared to its average volume of 1,198,017. The company has a 50-day simple moving average of $34.68 and a 200 day simple moving average of $35.42. The company has a market capitalization of $6.19 billion, a P/E ratio of 31.88 and a beta of 0.96. STAG Industrial, Inc. has a 12 month low of $28.61 and a 12 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.
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, 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%. Sell-side analysts anticipate that STAG Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.
STAG Industrial Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.1242 per share. The ex-dividend date is Monday, June 30th. This represents a $1.49 annualized dividend and a yield of 4.49%. STAG Industrial's dividend payout ratio is currently 143.27%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on STAG. Royal Bank of Canada decreased their price objective on shares of 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. Barclays dropped their price objective on STAG Industrial from $40.00 to $37.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Finally, Raymond James lowered their target price on STAG Industrial from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, STAG Industrial presently has a consensus rating of "Hold" and an average target price of $39.57.
Check Out Our Latest Stock Analysis on STAG
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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