STAG Industrial, Inc. (NYSE:STAG) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,030,727 shares of the real estate investment trust’s stock after selling 99,398 shares during the period. New York State Common Retirement Fund owned about 0.57% of STAG Industrial worth $40,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STAG. AE Wealth Management LLC lifted its position in shares of STAG Industrial by 44.2% during the third quarter. AE Wealth Management LLC now owns 54,618 shares of the real estate investment trust’s stock worth $1,885,000 after purchasing an additional 16,735 shares in the last quarter. SG Americas Securities LLC raised its holdings in STAG Industrial by 87.3% in the third quarter. SG Americas Securities LLC now owns 34,856 shares of the real estate investment trust’s stock valued at $1,203,000 after acquiring an additional 16,247 shares in the last quarter. Tectonic Advisors LLC bought a new stake in STAG Industrial during the third quarter valued at $267,000. Raymond James & Associates increased its stake in STAG Industrial by 0.7% during the third quarter. Raymond James & Associates now owns 243,077 shares of the real estate investment trust’s stock valued at $8,389,000 after purchasing an additional 1,755 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in STAG Industrial by 1.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 90,891 shares of the real estate investment trust’s stock valued at $3,137,000 after purchasing an additional 1,374 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and set a $41.00 target price (up previously from $38.00) on shares of STAG Industrial in a research note on Friday, January 5th. Royal Bank of Canada upped their price target on shares of STAG Industrial from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. Barclays began coverage on shares of STAG Industrial in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target for the company. Finally, BMO Capital Markets restated an “outperform” rating and set a $42.00 price target (up previously from $41.00) on shares of STAG Industrial in a research report on Monday, April 8th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $39.13.

STAG Industrial Price Performance

STAG stock opened at $34.74 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76. STAG Industrial, Inc. has a one year low of $31.69 and a one year high of $39.61. The firm has a market capitalization of $6.32 billion, a PE ratio of 32.17, a P/E/G ratio of 5.00 and a beta of 1.02. The firm has a 50-day moving average of $37.45 and a two-hundred day moving average of $36.84.

STAG Industrial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.1233 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.26%. STAG Industrial’s dividend payout ratio is 137.04%.

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.