IndexIQ Advisors LLC trimmed its holdings in Stag Industrial Inc (NYSE:STAG) by 4.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 72,656 shares of the real estate investment trust’s stock after selling 3,367 shares during the period. IndexIQ Advisors LLC owned approximately 0.05% of Stag Industrial worth $2,294,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of STAG. Quest Capital Management Inc. ADV acquired a new stake in Stag Industrial during the third quarter worth approximately $25,000. CWM LLC acquired a new stake in shares of Stag Industrial in the 3rd quarter worth approximately $31,000. Evoke Wealth LLC purchased a new position in shares of Stag Industrial in the third quarter valued at $32,000. Marshall Wace North America L.P. purchased a new position in shares of Stag Industrial during the 1st quarter worth approximately $36,000. Finally, First Bank & Trust increased its position in Stag Industrial by 365.5% during the fourth quarter. First Bank & Trust now owns 2,174 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 1,707 shares in the last quarter. 86.59% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. JMP Securities reissued an “outperform” rating and issued a $35.00 price target (up from $34.00) on shares of Stag Industrial in a research note on Tuesday, January 14th. Wells Fargo & Co upgraded Stag Industrial from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Tuesday, December 10th. Royal Bank of Canada raised shares of Stag Industrial from an “outperform” rating to a “top pick” rating and lifted their price target for the stock from $33.00 to $34.00 in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised Stag Industrial from a “neutral” rating to an “overweight” rating and upped their target price for the company from $33.00 to $34.00 in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $33.14.
In other news, CEO Benjamin S. Butcher sold 95,067 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $31.32, for a total transaction of $2,977,498.44. Following the completion of the transaction, the chief executive officer now owns 62,088 shares of the company’s stock, valued at $1,944,596.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Stephen C. Mecke sold 51,212 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $31.32, for a total transaction of $1,603,959.84. Following the transaction, the chief operating officer now directly owns 46,549 shares of the company’s stock, valued at approximately $1,457,914.68. The disclosure for this sale can be found here. Insiders have sold a total of 203,231 shares of company stock worth $6,365,195 over the last quarter. Insiders own 1.50% of the company’s stock.
Shares of STAG stock opened at $33.02 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average of $32.14 and a two-hundred day moving average of $30.59. Stag Industrial Inc has a 52 week low of $27.14 and a 52 week high of $33.48. The company has a market cap of $4.71 billion, a P/E ratio of 53.26, a PEG ratio of 4.42 and a beta of 0.92.
The business also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Monday, March 30th. Stag Industrial’s dividend payout ratio (DPR) is presently 80.45%.
Stag Industrial Company Profile
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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