Vestcor Inc Acquires 12,561 Shares of STAG Industrial, Inc. (NYSE:STAG)

Vestcor Inc raised its position in STAG Industrial, Inc. (NYSE:STAG - Free Report) by 592.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,680 shares of the real estate investment trust's stock after purchasing an additional 12,561 shares during the quarter. Vestcor Inc's holdings in STAG Industrial were worth $496,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of STAG Industrial in the fourth quarter worth about $43,000. Coastline Trust Co acquired a new stake in shares of STAG Industrial in the third quarter worth about $55,000. Hilltop National Bank lifted its position in shares of 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 buying an additional 362 shares during the last quarter. Principal Securities Inc. lifted its position in shares of STAG Industrial by 20.7% in the fourth quarter. Principal Securities Inc. now owns 2,977 shares of the real estate investment trust's stock worth $101,000 after buying an additional 510 shares during the last quarter. Finally, Aew Capital Management L P lifted its position in shares of STAG Industrial by 52.4% in the fourth quarter. Aew Capital Management L P now owns 3,200 shares of the real estate investment trust's stock worth $108,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

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Insider Activity at STAG Industrial

In other news, Director Benjamin S. Butcher sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $35.10, for a total value of $1,755,000.00. Following the sale, the director now directly owns 9,632 shares in the company, valued at approximately $338,083.20. This represents a 83.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Raymond James boosted their price target on STAG Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Royal Bank of Canada reduced their price target on STAG Industrial from $40.00 to $38.00 and set a "sector perform" rating for the company in a research report on Monday, January 27th. Finally, Barclays cut their price objective 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, STAG Industrial presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.38.

STAG Industrial Stock Performance

Shares of NYSE STAG traded down $0.39 during trading hours on Wednesday, hitting $35.08. 387,869 shares of the company's stock were exchanged, compared to its average volume of 1,061,852. STAG Industrial, Inc. has a 1-year low of $32.27 and a 1-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. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 33.79 and a beta of 1.05. The company's 50-day moving average price is $34.92 and its 200-day moving average price is $36.32.

STAG Industrial (NYSE:STAG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that STAG Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

STAG Industrial Increases Dividend

The company also recently declared a dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.1242 per share. This represents a yield of 4.25%. This is a positive change from STAG Industrial's previous dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. STAG Industrial's payout ratio is currently 143.27%.

STAG Industrial Company 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.