STAG Industrial, Inc. (NYSE:STAG) Shares Bought by Mesirow Institutional Investment Management Inc.

Mesirow Institutional Investment Management Inc. boosted its holdings in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 22.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 464,358 shares of the real estate investment trust's stock after purchasing an additional 84,826 shares during the period. STAG Industrial comprises approximately 1.5% of Mesirow Institutional Investment Management Inc.'s holdings, making the stock its 12th largest holding. Mesirow Institutional Investment Management Inc. owned about 0.25% of STAG Industrial worth $16,745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Convergence Investment Partners LLC increased its stake in shares of STAG Industrial by 35.0% during the second quarter. Convergence Investment Partners LLC now owns 44,216 shares of the real estate investment trust's stock valued at $1,594,000 after buying an additional 11,467 shares during the period. Commonwealth Equity Services LLC boosted its holdings in STAG Industrial by 3.1% in the second quarter. Commonwealth Equity Services LLC now owns 91,400 shares of the real estate investment trust's stock valued at $3,296,000 after acquiring an additional 2,783 shares in the last quarter. IFG Advisory LLC purchased a new position in STAG Industrial during the 2nd quarter valued at $339,000. Hantz Financial Services Inc. bought a new position in STAG Industrial in the 2nd quarter worth $295,000. Finally, Centerpoint Advisors LLC bought a new position in STAG Industrial in the 2nd quarter worth $25,000. Institutional investors own 88.67% of the company's stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

STAG Industrial Stock Performance

STAG traded down $0.23 during trading on Wednesday, reaching $40.08. 796,665 shares of the company's stock were exchanged, compared to its average volume of 1,088,967. The stock has a market capitalization of $7.30 billion, a P/E ratio of 40.31, a price-to-earnings-growth ratio of 4.20 and a beta of 1.09. The company's fifty day simple moving average is $38.80 and its 200-day simple moving average is $37.19. STAG Industrial, Inc. has a 1 year low of $31.69 and a 1 year high of $41.63. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.60.

STAG Industrial Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.1233 dividend. This is a boost from STAG Industrial's previous dividend of $0.12. The ex-dividend date was Wednesday, July 31st. This represents a yield of 3.63%. STAG Industrial's dividend payout ratio is presently 148.00%.

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.