Allspring Global Investments Holdings LLC Buys 47,360 Shares of Stag Industrial, Inc. (NYSE:STAG)

Allspring Global Investments Holdings LLC raised its stake in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,926 shares of the real estate investment trust's stock after buying an additional 47,360 shares during the period. Allspring Global Investments Holdings LLC owned about 0.12% of Stag Industrial worth $7,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in STAG. Versant Capital Management Inc lifted its stake in Stag Industrial by 204.9% in the first quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 506 shares during the period. Garde Capital Inc. purchased a new stake in shares of Stag Industrial in the 1st quarter worth approximately $33,000. Proathlete Wealth Management LLC bought a new position in shares of Stag Industrial during the first quarter valued at approximately $47,000. Quarry LP purchased a new position in Stag Industrial during the fourth quarter valued at approximately $62,000. Finally, UMB Bank n.a. increased its holdings in Stag Industrial by 175.3% during the first quarter. UMB Bank n.a. now owns 2,907 shares of the real estate investment trust's stock valued at $105,000 after buying an additional 1,851 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 $36.95 on Friday. Stag Industrial, Inc. has a 52 week low of $28.61 and a 52 week high of $41.63. The business's 50 day moving average price is $35.45 and its 200 day moving average price is $34.66. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.86. The firm has a market cap of $6.90 billion, a P/E ratio of 27.78 and a beta of 0.93.

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. Stag Industrial had a net margin of 31.05% and a return on equity of 7.04%. The business had revenue of $205.57 million for the quarter, compared to the consensus estimate of $202.04 million. During the same period in the prior year, the firm earned $0.59 EPS. The business's revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Announces Dividend

The business also recently declared a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.1242 per share. This represents a yield of 4.37%. The ex-dividend date was Friday, May 30th. Stag Industrial's dividend payout ratio is currently 112.03%.

Insider Buying and Selling at Stag Industrial

In other news, Director Benjamin S. Butcher sold 28,843 shares of the company's stock in a transaction dated Friday, June 6th. The stock was 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 $262,543.50. This represents a 80.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on STAG. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $38.00 target price on shares of Stag Industrial in a research report on Monday, May 19th. Raymond James Financial lifted their target price on Stag Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird decreased their price target on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Stag Industrial has a consensus rating of "Hold" and an average target price of $39.71.

About Stag Industrial

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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