PNC Financial Services Group Inc. lessened its position in STAG Industrial, Inc. (NYSE:STAG – Free Report) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,933 shares of the real estate investment trust’s stock after selling 862 shares during the quarter. PNC Financial Services Group Inc.’s holdings in STAG Industrial were worth $900,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in shares of STAG Industrial by 3.7% during the 4th quarter. Principal Financial Group Inc. now owns 748,765 shares of the real estate investment trust’s stock worth $29,397,000 after acquiring an additional 26,700 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of STAG Industrial during the 4th quarter worth approximately $2,002,000. International Assets Investment Management LLC boosted its stake in shares of STAG Industrial by 3,860.5% during the 4th quarter. International Assets Investment Management LLC now owns 114,816 shares of the real estate investment trust’s stock worth $4,508,000 after acquiring an additional 111,917 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of STAG Industrial by 22.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,248,373 shares of the real estate investment trust’s stock worth $206,051,000 after acquiring an additional 961,420 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of STAG Industrial by 11.8% during the 3rd quarter. Sei Investments Co. now owns 501,596 shares of the real estate investment trust’s stock worth $17,310,000 after acquiring an additional 53,109 shares during the period. 88.67% of the stock is currently owned by institutional investors.
STAG Industrial Price Performance
Shares of NYSE STAG opened at $34.64 on Friday. The stock has a market capitalization of $6.31 billion, a PE ratio of 34.64, a P/E/G ratio of 4.91 and a beta of 1.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.75 and a quick ratio of 1.75. The business has a fifty day moving average price of $36.03 and a two-hundred day moving average price of $37.06. STAG Industrial, Inc. has a fifty-two week low of $31.69 and a fifty-two week high of $39.61.
STAG Industrial Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.1233 per share. The ex-dividend date is Friday, June 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.27%. STAG Industrial’s dividend payout ratio (DPR) is currently 148.00%.
Analysts Set New Price Targets
STAG has been the subject of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $42.00 target price (up from $41.00) on shares of STAG Industrial in a research note on Monday, April 8th. Royal Bank of Canada boosted their price target on STAG Industrial from $39.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Finally, Barclays reduced their price target on STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, May 24th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $39.00.
Check Out Our Latest Research Report on STAG Industrial
About STAG Industrial
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.
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Source: defenseworld.net
