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

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in Stag Industrial by 25.2% during the first quarter by selling 27,820 shares, now holding a total of 82,707 shares valued at approximately $2,987,000.
• Institutional investors own 88.67% of Stag Industrial's stock, indicating strong institutional backing, with several hedge funds increasing their positions in the fourth quarter.
• The company recently announced a dividend of $0.1242, with an impressive yield of 422.0%, although the payout ratio stands at 117.32%.

OVERSEA CHINESE BANKING Corp Ltd cut its position in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 25.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC lifted its position in Stag Industrial by 30.1% in the fourth quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust's stock worth $305,224,000 after buying an additional 2,088,839 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Stag Industrial by 6.6% in the 4th quarter. Earnest Partners LLC now owns 3,795,425 shares of the real estate investment trust's stock valued at $128,361,000 after purchasing an additional 235,622 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Stag Industrial by 5.9% in the fourth quarter. Nuveen Asset Management LLC now owns 3,679,641 shares of the real estate investment trust's stock valued at $124,445,000 after purchasing an additional 204,948 shares during the period. Geode Capital Management LLC lifted its stake in shares of Stag Industrial by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,421,549 shares of the real estate investment trust's stock worth $115,748,000 after acquiring an additional 18,009 shares in the last quarter. Finally, Boston Trust Walden Corp grew its holdings in Stag Industrial by 17.5% in the 1st quarter. Boston Trust Walden Corp now owns 2,942,495 shares of the real estate investment trust's stock worth $106,283,000 after buying an additional 437,527 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

Stag Industrial Trading Down 0.9%

NYSE:STAG traded down $0.33 on Wednesday, hitting $34.84. 297,724 shares of the stock were exchanged, compared to its average volume of 1,505,509. Stag Industrial, Inc. has a 52 week low of $28.61 and a 52 week high of $40.75. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 27.43 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 1.31. The company's 50-day moving average price is $36.01 and its 200 day moving average price is $34.96.

Stag Industrial (NYSE:STAG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, hitting the consensus estimate of $0.63. The firm 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%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. On average, equities research analysts forecast that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $0.1242 dividend. The ex-dividend date is Thursday, July 31st. This represents a dividend yield of 422.0%. Stag Industrial's dividend payout ratio (DPR) is 117.32%.

Insider Activity at Stag Industrial

In other news, Director Benjamin S. Butcher sold 28,843 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $36.90, for a total value of $1,064,306.70. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Robert W. Baird lowered their target price on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Royal Bank Of Canada restated a "sector perform" rating and issued a $38.00 target price on shares of Stag Industrial in a report on Monday, May 19th. Raymond James Financial upped their price objective on shares of 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 lifted their price objective 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $38.17.

Stag Industrial Company 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.