Victory Capital Management Inc. Sells 144,170 Shares of STAG Industrial, Inc. (NYSE:STAG)

Victory Capital Management Inc. trimmed its position in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 29.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 339,570 shares of the real estate investment trust's stock after selling 144,170 shares during the period. Victory Capital Management Inc. owned about 0.19% of STAG Industrial worth $13,274,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Centerpoint Advisors LLC purchased a new stake in shares of STAG Industrial during the second quarter worth approximately $25,000. UMB Bank n.a. increased its stake in STAG Industrial by 54.1% in the third quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 306 shares during the last quarter. GAMMA Investing LLC increased its stake in STAG Industrial by 56.1% in the second quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 326 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in STAG Industrial in the second quarter valued at approximately $38,000. Finally, Covestor Ltd increased its stake in STAG Industrial by 237.6% in the first quarter. Covestor Ltd now owns 1,148 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 808 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

STAG Industrial Stock Up 0.6 %

NYSE:STAG traded up $0.20 during trading hours on Thursday, hitting $36.19. 493,421 shares of the stock traded hands, compared to its average volume of 1,070,299. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 36.35 and a beta of 1.09. The firm has a 50 day moving average price of $37.94 and a 200 day moving average price of $37.63. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.87. STAG Industrial, Inc. has a fifty-two week low of $34.09 and a fifty-two week high of $41.63.

STAG Industrial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.1233 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Tuesday, December 31st. STAG Industrial's payout ratio is presently 149.49%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STAG. Evercore ISI increased their price target on shares of STAG Industrial from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, August 28th. Barclays reduced their target price on STAG Industrial from $42.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Wedbush raised their price target on STAG Industrial from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company dropped their price target on STAG Industrial from $41.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $41.13.

STAG Industrial Company Profile

We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.