Bank of New York Mellon Corp Sells 181,984 Shares of Stag Industrial, Inc. (NYSE:STAG)

Bank of New York Mellon Corp trimmed its holdings in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,661,535 shares of the real estate investment trust's stock after selling 181,984 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.89% of Stag Industrial worth $60,015,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its position in shares of 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 purchasing an additional 506 shares during the period. Tsfg LLC purchased a new position in shares of Stag Industrial in the first quarter worth $32,000. Garde Capital Inc. purchased a new position in shares of Stag Industrial in the first quarter worth $33,000. Proathlete Wealth Management LLC purchased a new position in shares of Stag Industrial in the first quarter worth $47,000. Finally, Quarry LP purchased a new position in shares of Stag Industrial in the fourth quarter worth $62,000. 88.67% of the stock is currently owned by institutional investors.

Stag Industrial Stock Up 0.5%

STAG stock opened at $36.12 on Friday. The firm has a 50 day moving average of $35.76 and a 200 day moving average of $34.74. The stock has a market capitalization of $6.74 billion, a PE ratio of 27.16 and a beta of 0.93. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.86. Stag Industrial, Inc. has a 52 week low of $28.61 and a 52 week high of $41.63.

Stag Industrial (NYSE:STAG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Stag Industrial had a net margin of 31.05% and a return on equity of 7.04%. The company had revenue of $205.57 million during the quarter, compared to analyst estimates of $202.04 million. During the same period last year, the firm posted $0.59 EPS. Stag Industrial's revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.1242 per share. This represents a $1.49 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Tuesday, September 30th. Stag Industrial's dividend payout ratio (DPR) is 112.03%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. 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. Robert W. Baird decreased 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 note on Wednesday, May 7th. Finally, Raymond James Financial upped their price target on shares of Stag Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Stag Industrial currently has an average rating of "Hold" and a consensus price target of $39.71.

Insider Transactions at Stag Industrial

In related news, Director Benjamin S. Butcher sold 28,843 shares of Stag Industrial stock in a transaction 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 of the company's stock, valued at approximately $262,543.50. This trade represents a 80.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.

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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