Principal Financial Group Inc. Decreases Stock Position in STAG Industrial, Inc. (NYSE:STAG)

Principal Financial Group Inc. trimmed its position in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 30.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 421,491 shares of the real estate investment trust's stock after selling 184,761 shares during the period. Principal Financial Group Inc. owned 0.23% of STAG Industrial worth $16,476,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Westfield Capital Management Co. LP boosted its holdings in shares of STAG Industrial by 12.3% in the first quarter. Westfield Capital Management Co. LP now owns 967,485 shares of the real estate investment trust's stock worth $37,190,000 after acquiring an additional 106,217 shares during the period. Cetera Investment Advisers boosted its holdings in shares of STAG Industrial by 763.9% in the first quarter. Cetera Investment Advisers now owns 70,788 shares of the real estate investment trust's stock worth $2,721,000 after acquiring an additional 62,594 shares during the period. Earnest Partners LLC boosted its holdings in shares of STAG Industrial by 2.2% in the second quarter. Earnest Partners LLC now owns 3,652,984 shares of the real estate investment trust's stock worth $131,727,000 after acquiring an additional 78,189 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of STAG Industrial by 317.6% in the second quarter. Harbor Capital Advisors Inc. now owns 34,067 shares of the real estate investment trust's stock worth $1,228,000 after acquiring an additional 25,909 shares during the period. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of STAG Industrial in the first quarter worth $710,000. 88.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on STAG Industrial from $42.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Monday, October 28th. Evercore ISI increased their price objective on STAG Industrial from $43.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 28th. Wedbush increased their price objective on STAG Industrial from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company lowered their price objective on STAG Industrial from $41.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, November 4th. Five equities research 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.com, the stock presently has a consensus rating of "Hold" and an average price target of $41.13.

STAG Industrial Price Performance

NYSE STAG traded up $0.08 during trading hours on Friday, reaching $36.21. 1,038,096 shares of the stock traded hands, compared to its average volume of 1,073,282. The stock has a 50 day simple moving average of $38.14 and a two-hundred day simple moving average of $37.59. STAG Industrial, Inc. has a 1 year low of $34.09 and a 1 year high of $41.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 36.58 and a beta of 1.09.

STAG Industrial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.1233 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 4.09%. STAG Industrial's payout ratio is 149.49%.

STAG Industrial Company Profile

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.