Insider Selling: STAG Industrial, Inc. (NYSE:STAG) Director Sells 28,843 Shares of Stock

STAG Industrial, Inc. (NYSE:STAG - Get Free Report) Director Benjamin S. Butcher sold 28,843 shares of STAG Industrial stock in a transaction on Friday, June 6th. The stock was sold at an average price of $36.90, for a total transaction of $1,064,306.70. Following the completion of the sale, the director now owns 7,115 shares of the company's stock, valued at approximately $262,543.50. This trade represents a 80.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

STAG Industrial Stock Performance

NYSE STAG traded up $0.12 during trading hours on Thursday, reaching $36.57. The company's stock had a trading volume of 404,517 shares, compared to its average volume of 1,264,529. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.86. The business has a 50-day simple moving average of $33.97 and a 200 day simple moving average of $34.65. STAG Industrial, Inc. has a 52 week low of $28.61 and a 52 week high of $41.63. The stock has a market cap of $6.82 billion, a PE ratio of 35.16 and a beta of 0.94.

STAG Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. The business had revenue of $205.57 million for the quarter, compared to analysts' expectations of $202.04 million. During the same period in the prior year, the firm earned $0.59 EPS. The business's quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts predict that STAG Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

STAG Industrial Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.1242 dividend. This represents a yield of 4.37%. The ex-dividend date of this dividend is Friday, May 30th. STAG Industrial's payout ratio is 112.03%.

Hedge Funds Weigh In On STAG Industrial

Several hedge funds and other institutional investors have recently modified their holdings of STAG. Janney Montgomery Scott LLC bought a new stake in STAG Industrial in the 4th quarter valued at about $411,000. abrdn plc increased its stake in shares of STAG Industrial by 7.8% in the fourth quarter. abrdn plc now owns 56,872 shares of the real estate investment trust's stock valued at $1,920,000 after purchasing an additional 4,091 shares during the period. Choreo LLC raised its holdings in shares of STAG Industrial by 42.1% during the fourth quarter. Choreo LLC now owns 16,944 shares of the real estate investment trust's stock valued at $572,000 after buying an additional 5,018 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of STAG Industrial by 8.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,556 shares of the real estate investment trust's stock worth $1,676,000 after buying an additional 3,950 shares during the period. Finally, Values First Advisors Inc. boosted its position in shares of STAG Industrial by 2.2% during the fourth quarter. Values First Advisors Inc. now owns 14,562 shares of the real estate investment trust's stock worth $492,000 after buying an additional 307 shares during the period. Institutional investors and hedge funds own 88.67% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $38.00 price target on shares of STAG Industrial in a research note on Monday, May 19th. Robert W. Baird reduced their target price on STAG Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Raymond James boosted their price target on STAG Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $39.71.

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.