Federated Hermes Inc. Sells 175,377 Shares of STAG Industrial, Inc. (NYSE:STAG)

Federated Hermes Inc. lowered its stake in STAG Industrial, Inc. (NYSE:STAG - Free Report) by 59.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,052 shares of the real estate investment trust's stock after selling 175,377 shares during the period. Federated Hermes Inc. owned approximately 0.07% of STAG Industrial worth $4,026,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in STAG Industrial in the 4th quarter worth approximately $75,471,000. Raymond James Financial Inc. acquired a new position in STAG Industrial during the 4th quarter valued at $57,561,000. Franklin Resources Inc. grew its position in STAG Industrial by 114.3% in the 4th quarter. Franklin Resources Inc. now owns 797,457 shares of the real estate investment trust's stock worth $26,970,000 after purchasing an additional 425,362 shares during the last quarter. Prudential Financial Inc. raised its position in shares of STAG Industrial by 19.3% during the fourth quarter. Prudential Financial Inc. now owns 1,809,679 shares of the real estate investment trust's stock valued at $61,203,000 after buying an additional 292,252 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in STAG Industrial by 33.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,004,562 shares of the real estate investment trust's stock worth $33,974,000 after buying an additional 251,992 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

STAG Industrial Price Performance

Shares of STAG Industrial stock traded up $0.64 during trading on Thursday, reaching $33.15. The company's stock had a trading volume of 1,047,089 shares, compared to its average volume of 1,198,017. STAG Industrial, Inc. has a one year low of $28.61 and a one year high of $41.63. The stock has a 50-day moving average price of $34.68 and a two-hundred day moving average price of $35.42. 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 stock has a market capitalization of $6.19 billion, a P/E ratio of 31.88 and a beta of 0.96.

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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 for the quarter, beating 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%. As a group, sell-side analysts anticipate that STAG Industrial, Inc. will post 2.47 EPS for the current fiscal year.

STAG Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.1242 per share. The ex-dividend date is Monday, June 30th. This represents a $1.49 annualized dividend and a yield of 4.49%. STAG Industrial's dividend payout ratio is currently 143.27%.

Insider Buying and Selling at STAG Industrial

In other news, Director Benjamin S. Butcher sold 50,000 shares of the stock in a transaction 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 owns 9,632 shares of the company's stock, valued at $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 available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

STAG has been the subject of a number of research reports. 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 research report on Monday, January 27th. Barclays reduced their price objective on shares of STAG Industrial from $40.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Finally, Raymond James decreased their price objective on STAG Industrial from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Monday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $39.57.

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.