Bank of New York Mellon Corp Decreases Stock Holdings in Stag Industrial, Inc. (NYSE:STAG)

Bank of New York Mellon Corp cut its holdings in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 9.9% in the first quarter, according to the company in its most recent 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 about 0.89% of Stag Industrial worth $60,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Synovus Financial Corp increased its stake in Stag Industrial by 1.8% in the fourth quarter. Synovus Financial Corp now owns 21,695 shares of the real estate investment trust's stock valued at $734,000 after purchasing an additional 377 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Stag Industrial by 6.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 6,773 shares of the real estate investment trust's stock valued at $229,000 after acquiring an additional 387 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Stag Industrial by 2.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,808 shares of the real estate investment trust's stock worth $535,000 after buying an additional 394 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Stag Industrial by 3.5% in the 4th quarter. Integrated Advisors Network LLC now owns 11,673 shares of the real estate investment trust's stock worth $395,000 after acquiring an additional 398 shares during the last quarter. Finally, PFG Investments LLC lifted its position in shares of Stag Industrial by 5.4% in the first quarter. PFG Investments LLC now owns 8,302 shares of the real estate investment trust's stock worth $300,000 after buying an additional 429 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stag Industrial

In other Stag Industrial news, Director Benjamin S. Butcher sold 28,843 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $36.90, for a total transaction of $1,064,306.70. Following the sale, the director directly owned 7,115 shares of the company's stock, valued at $262,543.50. The trade was a 80.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on STAG. Raymond James Financial upped their price objective on Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $38.00 price objective on shares of Stag Industrial in a research note on Monday, May 19th. Finally, Robert W. Baird cut 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Stag Industrial has an average rating of "Hold" and an average price target of $39.71.

Stag Industrial Stock Down 1.4%

Shares of NYSE:STAG traded down $0.52 during trading on Tuesday, hitting $35.58. The company's stock had a trading volume of 922,890 shares, compared to its average volume of 1,286,314. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.25 and a current ratio of 1.25. The business has a 50 day moving average price of $35.76 and a two-hundred day moving average price of $34.75. The company has a market capitalization of $6.64 billion, a PE ratio of 26.75 and a beta of 0.93. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $41.63.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.61 earnings per share (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 company had revenue of $205.57 million during the quarter, compared to analysts' expectations of $202.04 million. During the same period in the previous year, the company earned $0.59 EPS. The business's quarterly revenue was up 9.7% compared to the same quarter last year. As a group, research analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, September 30th. Stag Industrial's payout ratio is 112.03%.

Stag Industrial 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.