OVERSEA CHINESE BANKING Corp Ltd Sells 27,820 Shares of Stag Industrial, Inc. (NYSE:STAG)

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 25.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,707 shares of the real estate investment trust's stock after selling 27,820 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Stag Industrial were worth $2,987,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in Stag Industrial by 204.9% during the 1st 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 acquired a new position in Stag Industrial during the 1st quarter worth approximately $32,000. Garde Capital Inc. acquired a new position in Stag Industrial during the 1st quarter worth approximately $33,000. Proathlete Wealth Management LLC acquired a new position in Stag Industrial during the 1st quarter worth approximately $47,000. Finally, Quarry LP acquired a new position in Stag Industrial during the 4th quarter worth approximately $62,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Stag Industrial Stock Performance

Stag Industrial stock traded up $0.28 during mid-day trading on Wednesday, hitting $35.85. 1,515,697 shares of the company's stock traded hands, compared to its average volume of 1,286,185. The firm has a 50 day simple moving average of $35.90 and a two-hundred day simple moving average of $34.77. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $41.63. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 26.96 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.25 and a quick ratio of 1.25.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings results 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 return on equity of 7.04% and a net margin of 31.05%. The business had revenue of $205.57 million during the quarter, compared to the consensus estimate of $202.04 million. During the same quarter last year, the firm posted $0.59 EPS. The company's quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.1242 per share. This represents a $1.49 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Tuesday, September 30th. Stag Industrial's payout ratio is 112.03%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. 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 reissued 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, Robert W. Baird decreased their target price on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $39.71.

Insiders Place Their Bets

In other Stag Industrial news, Director Benjamin S. Butcher sold 28,843 shares of the 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 in the company, valued at $262,543.50. This trade represents a 80.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

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.