Rhumbline Advisers grew its holdings in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 529,046 shares of the real estate investment trust's stock after buying an additional 15,198 shares during the period. Rhumbline Advisers owned 0.29% of STAG Industrial worth $17,892,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sugar Maple Asset Management LLC acquired a new position in STAG Industrial during the 4th quarter valued at about $43,000. Coastline Trust Co acquired a new position in shares of STAG Industrial during the third quarter valued at approximately $55,000. Hilltop National Bank lifted its position in STAG Industrial by 19.2% in the fourth quarter. Hilltop National Bank now owns 2,243 shares of the real estate investment trust's stock worth $76,000 after purchasing an additional 362 shares during the period. Signaturefd LLC boosted its stake in STAG Industrial by 27.0% during the 3rd quarter. Signaturefd LLC now owns 2,995 shares of the real estate investment trust's stock valued at $117,000 after purchasing an additional 636 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of STAG Industrial by 133.5% during the 3rd quarter. Blue Trust Inc. now owns 3,159 shares of the real estate investment trust's stock valued at $114,000 after purchasing an additional 1,806 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages recently weighed in on STAG. Wells Fargo & Company decreased their target price on STAG Industrial from $41.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, November 4th. Barclays decreased their price target 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. Royal Bank of Canada cut their price objective on STAG Industrial from $40.00 to $38.00 and set a "sector perform" rating on the stock in a report on Monday, January 27th. Finally, Raymond James lifted their target price on shares of STAG Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.38.
View Our Latest Analysis on STAG Industrial
STAG Industrial Stock Up 1.0 %
NYSE:STAG traded up $0.35 during trading hours on Tuesday, reaching $35.67. The company's stock had a trading volume of 1,587,247 shares, compared to its average volume of 1,262,851. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 34.29 and a beta of 1.09. The business's 50-day moving average is $34.22 and its 200-day moving average is $36.72. STAG Industrial, Inc. has a one year low of $32.27 and a one year high of $41.63. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.36 and a quick ratio of 1.36.
STAG Industrial (NYSE:STAG - Get Free Report) last issued its quarterly earnings data 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%. Equities research analysts predict that STAG Industrial, Inc. will post 2.47 EPS for the current year.
STAG Industrial Increases Dividend
The firm also recently declared a dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.1242 dividend. This is an increase from STAG Industrial's previous dividend of $0.12. This represents a yield of 4.25%. The ex-dividend date of this dividend is Friday, February 28th. STAG Industrial's payout ratio is currently 143.27%.
Insider Transactions at STAG Industrial
In related news, Director Benjamin S. Butcher sold 50,000 shares of the business's 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 transaction, the director now directly owns 9,632 shares in the company, valued at $338,083.20. The trade was a 83.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company's stock.
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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