Aigen Investment Management LP decreased its stake in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 76.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,621 shares of the real estate investment trust's stock after selling 18,308 shares during the period. Aigen Investment Management LP's holdings in Stag Industrial were worth $203,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Versant Capital Management Inc lifted its position in shares of Stag Industrial by 204.9% during the first quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 506 shares during the last quarter. Tsfg LLC bought a new position in shares of Stag Industrial during the first quarter worth about $32,000. Garde Capital Inc. bought a new position in shares of Stag Industrial during the first quarter worth about $33,000. Avalon Trust Co bought a new position in shares of Stag Industrial during the first quarter worth about $36,000. Finally, Harbour Investments Inc. lifted its position in shares of Stag Industrial by 187.7% during the first quarter. Harbour Investments Inc. now owns 1,260 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 822 shares during the last quarter. Institutional investors own 88.67% of the company's stock.
Insider Activity at Stag Industrial
In other Stag Industrial news, Director Benjamin S. Butcher sold 28,843 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $36.90, for a total value of $1,064,306.70. Following the sale, the director owned 7,115 shares in the company, valued at approximately $262,543.50. This trade represents a 80.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on STAG. Robert W. Baird reduced their price target on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Evercore ISI raised their target price on shares of Stag Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $38.00 target price on shares of Stag Industrial in a report on Monday, May 19th. Finally, Raymond James Financial raised their target price on shares of Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Stag Industrial presently has a consensus rating of "Hold" and an average price target of $38.17.
View Our Latest Analysis on STAG
Stag Industrial Stock Performance
Shares of NYSE:STAG traded down $0.2750 during trading hours on Thursday, hitting $35.5750. The stock had a trading volume of 918,082 shares, compared to its average volume of 1,451,228. The stock's fifty day simple moving average is $35.70 and its 200 day simple moving average is $35.02. Stag Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $40.75. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 28.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 1.31.
Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The company had revenue of $207.44 million for the quarter, compared to analyst estimates of $206.37 million. During the same quarter last year, the business earned $0.61 earnings per share. Stag Industrial's revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.
Stag Industrial Announces Dividend
The company also recently declared a dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $0.1242 dividend. The ex-dividend date was Thursday, July 31st. This represents a dividend yield of 422.0%. Stag Industrial's dividend payout ratio (DPR) is presently 117.32%.
About Stag Industrial
(
Free Report)
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.
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