Northern Trust Corp Decreases Position 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 reduced its stake in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 10.9% during the 1st quarter, according to its most recent filing 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 1.00% of Stag Industrial worth $67,259,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of STAG. Versant Capital Management Inc boosted 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 valued at $27,000 after buying an additional 506 shares in the last quarter. Tsfg LLC purchased a new stake in shares of Stag Industrial in the first quarter valued at approximately $32,000. Garde Capital Inc. purchased a new stake in shares of Stag Industrial in the first quarter valued at approximately $33,000. Avalon Trust Co purchased a new stake in shares of Stag Industrial in the first quarter valued at approximately $36,000. Finally, Keystone Global Partners LLC purchased a new stake in shares of Stag Industrial in the first quarter valued at approximately $41,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions 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 stock was sold at an average price of $36.90, for a total transaction of $1,064,306.70. Following the completion of the sale, the director owned 7,115 shares of the company's stock, valued at approximately $262,543.50. The trade was a 80.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

Stag Industrial Price Performance

Shares of NYSE STAG traded up $0.13 during trading on Friday, reaching $36.89. The company had a trading volume of 1,069,479 shares, compared to its average volume of 1,259,448. Stag Industrial, Inc. has a twelve month low of $28.61 and a twelve month high of $40.62. The stock has a market capitalization of $6.89 billion, a PE ratio of 29.05 and a beta of 0.91. The stock has a 50-day moving average price of $35.75 and a two-hundred day moving average price 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 released its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. The firm had revenue of $207.44 million during the quarter, compared to analyst estimates of $206.37 million. Stag Industrial had a return on equity of 6.71% and a net margin of 29.14%.The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. As a group, sell-side analysts predict that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.1242 per share. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 29th. Stag Industrial's payout ratio is 117.32%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Royal Bank Of Canada restated a "sector perform" rating and issued a $38.00 price target on shares of Stag Industrial in a research note on Monday, May 19th. Robert W. Baird decreased their target price on Stag Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Raymond James Financial boosted their target price on Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Evercore ISI boosted their target price on Stag Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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.