Stag Industrial, Inc. $STAG Shares Sold by Channing Capital Management LLC

Key Points

• Channing Capital Management LLC reduced its stake in Stag Industrial, Inc. by 9.8%, holding 2,039,159 shares after selling 220,479 shares in the first quarter.
• Other hedge funds increased their positions in Stag Industrial, with CW Advisors LLC and Cascade Financial Partners LLC raising their stakes significantly by 63.8% and 261.6%, respectively.
• The company recently declared a dividend of $0.1242 per share, resulting in a yield of 422.0%, though the payout ratio is noted at 117.32%.

Channing Capital Management LLC trimmed its holdings in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,039,159 shares of the real estate investment trust's stock after selling 220,479 shares during the quarter. Stag Industrial makes up about 2.2% of Channing Capital Management LLC's portfolio, making the stock its 14th biggest position. Channing Capital Management LLC owned 1.09% of Stag Industrial worth $73,654,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of STAG. CW Advisors LLC lifted its position in shares of Stag Industrial by 63.8% during the first quarter. CW Advisors LLC now owns 15,135 shares of the real estate investment trust's stock worth $547,000 after purchasing an additional 5,895 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Stag Industrial by 6.5% during the 1st quarter. Hsbc Holdings PLC now owns 147,526 shares of the real estate investment trust's stock valued at $5,328,000 after buying an additional 9,053 shares in the last quarter. Keystone Global Partners LLC purchased a new stake in shares of Stag Industrial in the first quarter valued at approximately $41,000. Cascade Financial Partners LLC grew its position in shares of Stag Industrial by 261.6% during the 1st quarter. Cascade Financial Partners LLC now owns 23,098 shares of the real estate investment trust's stock worth $834,000 after buying an additional 16,711 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in Stag Industrial by 8.9% during the 1st quarter. Raymond James Financial Inc. now owns 1,853,187 shares of the real estate investment trust's stock worth $66,937,000 after acquiring an additional 151,192 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on STAG shares. Raymond James Financial lifted 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. Royal Bank Of Canada reissued a "sector perform" rating and set a $38.00 target price on shares of Stag Industrial in a research report on Monday, May 19th. Evercore ISI lifted their price target 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. Finally, Robert W. Baird decreased their price objective on Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $38.17.

Stag Industrial Stock Performance

Shares of STAG traded up $1.1640 during trading hours on Friday, reaching $36.7440. 1,054,545 shares of the company traded hands, compared to its average volume of 1,434,720. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average price of $35.70 and a 200-day moving average price of $35.04. Stag Industrial, Inc. has a 12-month low of $28.61 and a 12-month high of $40.75. The stock has a market capitalization of $6.86 billion, a P/E ratio of 28.93 and a beta of 0.91.

Stag Industrial (NYSE:STAG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. The business had revenue of $207.44 million for the quarter, compared to the consensus estimate of $206.37 million. Stag Industrial had a return on equity of 6.71% and a net margin of 29.14%.During the same quarter in the previous year, the business earned $0.61 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts anticipate that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.1242 per share. This represents a yield of 429.0%. The ex-dividend date is Friday, August 29th. Stag Industrial's payout ratio is presently 117.32%.

Insider Buying and Selling

In related news, Director Benjamin S. Butcher sold 28,843 shares of the business's stock in a transaction on 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 completion of the transaction, the director directly owned 7,115 shares in the company, valued at $262,543.50. The trade was a 80.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.