Corebridge Financial Inc. lessened its stake in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 206,170 shares of the real estate investment trust's stock after selling 9,173 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of STAG Industrial worth $6,973,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its holdings in STAG Industrial by 145.5% in the 3rd quarter. FMR LLC now owns 6,936,107 shares of the real estate investment trust's stock worth $271,132,000 after buying an additional 4,111,268 shares during the period. Raymond James Financial Inc. purchased a new stake in STAG Industrial in the fourth quarter worth $57,561,000. Heitman Real Estate Securities LLC boosted its holdings in STAG Industrial by 19.8% in the third quarter. Heitman Real Estate Securities LLC now owns 1,063,909 shares of the real estate investment trust's stock valued at $41,588,000 after acquiring an additional 175,993 shares in the last quarter. Channing Capital Management LLC increased its position in STAG Industrial by 7.8% during the 4th quarter. Channing Capital Management LLC now owns 2,259,638 shares of the real estate investment trust's stock valued at $76,421,000 after purchasing an additional 164,284 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in STAG Industrial by 15.7% in the 4th quarter. New York State Common Retirement Fund now owns 1,084,284 shares of the real estate investment trust's stock worth $36,670,000 after purchasing an additional 146,942 shares in the last quarter. Institutional investors own 88.67% of the company's stock.
Insider Transactions at STAG Industrial
In related 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 transaction, the director now directly owns 9,632 shares of the company's stock, valued at approximately $338,083.20. This represents a 83.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company's stock.
STAG Industrial Stock Down 0.8 %
Shares of STAG traded down $0.29 during mid-day trading on Wednesday, reaching $35.94. The company had a trading volume of 292,458 shares, compared to its average volume of 1,426,208. STAG Industrial, Inc. has a 52 week low of $32.27 and a 52 week high of $41.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 34.60 and a beta of 1.05. The firm has a 50-day moving average price of $35.24 and a 200 day moving average price of $36.01.
STAG Industrial (NYSE:STAG - Get Free Report) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 EPS for the quarter, topping analysts' consensus estimates 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 forecast that STAG Industrial, Inc. will post 2.47 EPS for the current year.
STAG Industrial Increases Dividend
The company also recently announced a dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.1242 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from STAG Industrial's previous dividend of $0.12. This represents a yield of 4.25%. STAG Industrial's payout ratio is 143.27%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on STAG. Raymond James lifted 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. Barclays cut their price objective on STAG Industrial from $40.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada decreased their target price 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. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, STAG Industrial has an average rating of "Moderate Buy" and a consensus price target of $40.38.
Read Our Latest Stock Analysis on STAG
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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