Principal Financial Group Inc. Has $21.86 Million Stock Holdings in STAG Industrial, Inc. (NYSE:STAG)

Principal Financial Group Inc. reduced its holdings in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606,252 shares of the real estate investment trust's stock after selling 77,445 shares during the period. Principal Financial Group Inc. owned approximately 0.33% of STAG Industrial worth $21,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. J.Safra Asset Management Corp increased its holdings in shares of STAG Industrial by 708.5% during the first quarter. J.Safra Asset Management Corp now owns 663 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 581 shares in the last quarter. Spire Wealth Management raised its holdings in shares of STAG Industrial by 124.1% in the fourth quarter. Spire Wealth Management now owns 688 shares of the real estate investment trust's stock worth $26,000 after buying an additional 381 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of STAG Industrial in the first quarter worth $29,000. GAMMA Investing LLC lifted its stake in shares of STAG Industrial by 56.1% during the second quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust's stock worth $33,000 after buying an additional 326 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of STAG Industrial during the fourth quarter valued at $38,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Benjamin S. Butcher sold 34,000 shares of the company's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $40.78, for a total value of $1,386,520.00. Following the completion of the transaction, the director now owns 8,758 shares of the company's stock, valued at approximately $357,151.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other STAG Industrial news, Director Benjamin S. Butcher sold 30,000 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $34.81, for a total transaction of $1,044,300.00. Following the transaction, the director now directly owns 8,304 shares of the company's stock, valued at $289,062.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Benjamin S. Butcher sold 34,000 shares of the business's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $40.78, for a total transaction of $1,386,520.00. Following the sale, the director now directly owns 8,758 shares of the company's stock, valued at approximately $357,151.24. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

STAG Industrial Stock Performance

STAG Industrial stock traded down $0.27 during mid-day trading on Tuesday, hitting $40.31. The company had a trading volume of 896,202 shares, compared to its average volume of 1,090,695. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 40.31, a P/E/G ratio of 4.20 and a beta of 1.09. STAG Industrial, Inc. has a 12-month low of $31.69 and a 12-month high of $41.63. The company's fifty day moving average is $38.80 and its 200-day moving average is $37.19. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.82.

STAG Industrial Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.1233 per share. This is a positive change from STAG Industrial's previous dividend of $0.12. This represents a dividend yield of 3.63%. The ex-dividend date was Wednesday, July 31st. STAG Industrial's dividend payout ratio is presently 148.00%.

Analyst Ratings Changes

A number of brokerages recently issued reports on STAG. Wedbush raised their target price on STAG Industrial from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. Evercore ISI raised their price objective on STAG Industrial from $43.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 28th. Wells Fargo & Company upped their target price on STAG Industrial from $37.00 to $41.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 28th. BNP Paribas started coverage on shares of STAG Industrial in a report on Tuesday, June 4th. They issued a "neutral" rating and a $39.00 price target on the stock. Finally, Barclays lifted their price objective on shares of STAG Industrial from $38.00 to $42.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 14th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, STAG Industrial has an average rating of "Hold" and an average price target of $41.22.

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.