Balyasny Asset Management L.P. Sells 299,101 Shares of STAG Industrial, Inc. (NYSE:STAG)

Balyasny Asset Management L.P. cut its position in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 36.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 513,678 shares of the real estate investment trust's stock after selling 299,101 shares during the period. Balyasny Asset Management L.P. owned about 0.28% of STAG Industrial worth $17,373,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of STAG. Norges Bank bought a new stake in STAG Industrial in the fourth quarter valued at $75,471,000. FMR LLC grew its holdings in shares of STAG Industrial by 30.1% during the fourth quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust's stock worth $305,224,000 after purchasing an additional 2,088,839 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of STAG Industrial during the fourth quarter worth $57,561,000. Northern Trust Corp lifted its holdings in STAG Industrial by 33.3% during the 4th quarter. Northern Trust Corp now owns 2,090,046 shares of the real estate investment trust's stock worth $70,685,000 after buying an additional 522,568 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in STAG Industrial by 114.3% in the fourth quarter. Franklin Resources Inc. now owns 797,457 shares of the real estate investment trust's stock valued at $26,970,000 after acquiring an additional 425,362 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STAG. Royal Bank of Canada decreased their price target on STAG Industrial from $40.00 to $38.00 and set a "sector perform" rating on the stock in a report on Monday, January 27th. Robert W. Baird cut their target price on STAG Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Raymond James raised their price target on STAG Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Barclays dropped their target price on STAG Industrial from $40.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $39.63.

STAG Industrial Trading Down 0.4%

Shares of NYSE:STAG traded down $0.15 during mid-day trading on Tuesday, reaching $35.28. 659,715 shares of the company's stock were exchanged, compared to its average volume of 1,208,473. STAG Industrial, Inc. has a twelve month low of $28.61 and a twelve month high of $41.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 33.92 and a beta of 0.93. The business's fifty day moving average price is $33.91 and its 200-day moving average price is $34.81.

STAG Industrial (NYSE:STAG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $205.57 million during the quarter, compared to the consensus estimate of $202.04 million. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. The company's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, research analysts predict that STAG Industrial, Inc. will post 2.47 EPS for the current fiscal year.

STAG Industrial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Investors 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 dividend on an annualized basis and a dividend yield of 4.22%. STAG Industrial's dividend payout ratio is 112.03%.

Insider Activity at STAG Industrial

In other news, Director Benjamin S. Butcher sold 50,000 shares of STAG Industrial stock in a transaction that occurred 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 sale, the director now directly owns 9,632 shares in the company, valued at approximately $338,083.20. This trade represents a 83.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

STAG Industrial Company 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.