Northern Trust Corp Has $67.26 Million Holdings in Stag Industrial, Inc. $STAG

Key Points

• Northern Trust Corp has reduced its holdings in Stag Industrial by 10.9%, owning approximately 1.00% of the company after selling 227,949 shares.
• Stag Industrial announced a quarterly dividend of $0.1242, with a yield of 429.0%, scheduled for payment on September 15th.
• The stock's price target has been adjusted by several analysts, with Evercore ISI increasing their target from $39.00 to $40.00, while others set targets around $38.00.

Northern Trust Corp cut its stake in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 10.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,862,097 shares of the real estate investment trust's stock after selling 227,949 shares during the quarter. Northern Trust Corp owned approximately 1.00% of Stag Industrial worth $67,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of STAG. Versant Capital Management Inc increased its stake 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 acquiring an additional 506 shares during the last quarter. Tsfg LLC bought a new position in shares of Stag Industrial in the 1st quarter valued at approximately $32,000. Garde Capital Inc. bought a new position in shares of Stag Industrial in the 1st quarter valued at approximately $33,000. Avalon Trust Co bought a new position in shares of Stag Industrial in the 1st quarter valued at approximately $36,000. Finally, Keystone Global Partners LLC bought a new position in shares of Stag Industrial in the 1st quarter valued at approximately $41,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Stag Industrial Stock Performance

NYSE:STAG traded up $0.13 during trading hours on Friday, hitting $36.89. 1,069,479 shares of the company traded hands, compared to its average volume of 1,196,667. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 29.05 and a beta of 0.94. Stag Industrial, Inc. has a twelve month low of $28.61 and a twelve month high of $40.62. The firm has a 50-day moving average of $35.75 and a 200 day moving average of $35.10. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86.

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, hitting analysts' consensus estimates of $0.63. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The firm had revenue of $207.44 million for the quarter, compared to the consensus estimate of $206.37 million. During the same quarter in the previous year, the company earned $0.61 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.1242 dividend. The ex-dividend date is Friday, August 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. Stag Industrial's dividend payout ratio (DPR) is 117.32%.

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 on Friday, June 6th. The stock was sold at an average price of $36.90, for a total transaction of $1,064,306.70. Following the transaction, the director owned 7,115 shares of the company's stock, valued at $262,543.50. This represents a 80.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on STAG shares. Robert W. Baird lowered their target price 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. Raymond James Financial raised their target price 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. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $38.00 target price on shares of Stag Industrial in a research note on Monday, May 19th. Finally, Evercore ISI raised their target price on shares of Stag Industrial from $39.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $38.17.

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.