Prudential Financial Inc. Buys 292,252 Shares of STAG Industrial, Inc. (NYSE:STAG)

Prudential Financial Inc. lifted its stake in STAG Industrial, Inc. (NYSE:STAG - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,809,679 shares of the real estate investment trust's stock after buying an additional 292,252 shares during the period. Prudential Financial Inc. owned approximately 0.99% of STAG Industrial worth $61,203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in STAG Industrial in the 3rd quarter worth approximately $717,000. Geode Capital Management LLC increased its holdings in STAG Industrial by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,403,540 shares of the real estate investment trust's stock valued at $133,077,000 after purchasing an additional 21,925 shares during the period. BNP Paribas Financial Markets raised its position in STAG Industrial by 169.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 132,412 shares of the real estate investment trust's stock valued at $5,176,000 after purchasing an additional 83,296 shares during the last quarter. Swiss National Bank raised its holdings in shares of STAG Industrial by 0.8% during the fourth quarter. Swiss National Bank now owns 358,200 shares of the real estate investment trust's stock valued at $12,114,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in STAG Industrial by 5.6% in the third quarter. Stifel Financial Corp now owns 52,278 shares of the real estate investment trust's stock valued at $2,044,000 after acquiring an additional 2,795 shares in the last quarter. Institutional investors own 88.67% of the company's stock.

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STAG Industrial Stock Performance

NYSE STAG traded up $0.14 during trading hours on Friday, hitting $35.58. 1,649,468 shares of the company's stock traded hands, compared to its average volume of 1,131,497. STAG Industrial, Inc. has a 52 week low of $32.27 and a 52 week high of $41.63. The firm has a market capitalization of $6.64 billion, a P/E ratio of 34.21 and a beta of 1.05. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.86. The business's fifty day moving average price is $35.17 and its two-hundred day moving average price is $36.08.

STAG Industrial (NYSE:STAG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.61 EPS for the quarter, topping the consensus estimate of $0.18 by $0.43. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. Equities research analysts predict that STAG Industrial, Inc. will post 2.47 EPS for the current year.

STAG Industrial Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.1242 per share. This is a boost from STAG Industrial's previous dividend of $0.12. This represents a dividend yield of 4.25%. The ex-dividend date was Friday, February 28th. STAG Industrial's payout ratio is presently 143.27%.

Analysts Set New Price Targets

Several research firms recently commented on STAG. Barclays dropped their price objective on shares of STAG Industrial from $40.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada reduced their price objective on STAG Industrial from $40.00 to $38.00 and set a "sector perform" rating for the company in a report on Monday, January 27th. Finally, Raymond James upped their target price on shares of STAG Industrial from $39.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $40.38.

Insider Activity at STAG Industrial

In related news, Director Benjamin S. Butcher sold 50,000 shares of STAG Industrial stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $35.10, for a total transaction of $1,755,000.00. Following the transaction, the director now owns 9,632 shares in the company, valued at approximately $338,083.20. The trade was a 83.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

STAG Industrial Profile

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.