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

A number of other institutional investors have also made changes to their positions in STAG. Versant Capital Management Inc boosted its stake in Stag Industrial by 204.9% during the first quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust's stock worth $27,000 after buying an additional 506 shares in the last quarter. Tsfg LLC bought a new position in Stag Industrial during the first quarter worth about $32,000. Garde Capital Inc. acquired a new stake in Stag Industrial during the first quarter valued at approximately $33,000. Harbour Investments Inc. grew its stake in shares of Stag Industrial by 187.7% in the 1st quarter. Harbour Investments Inc. now owns 1,260 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 822 shares during the period. Finally, Proathlete Wealth Management LLC acquired a new position in shares of Stag Industrial in the 1st quarter worth approximately $47,000. 88.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STAG has been the subject of a number of analyst reports. Raymond James Financial lifted their price objective on Stag Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Evercore ISI lifted their price target on shares of Stag Industrial from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Royal Bank Of Canada restated a "sector perform" rating and issued a $38.00 price target on shares of Stag Industrial in a research report on Monday, May 19th. Finally, Robert W. Baird dropped their price objective 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $38.17.

Insider Transactions at Stag Industrial

In other news, Director Benjamin S. Butcher sold 28,843 shares of the stock in a transaction dated 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 owned 7,115 shares in the company, valued at $262,543.50. This represents a 80.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Stag Industrial Price Performance

NYSE:STAG traded down $0.17 during trading hours on Thursday, reaching $34.53. 84,914 shares of the company were exchanged, compared to its average volume of 1,504,306. The business has a 50 day moving average of $35.99 and a 200 day moving average of $34.96. Stag Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $40.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $6.45 billion, a P/E ratio of 27.14 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, hitting analysts' consensus estimates of $0.63. Stag Industrial had a return on equity of 6.71% and a net margin of 29.14%. The business had revenue of $207.44 million for the quarter, compared to the consensus estimate of $206.37 million. During the same period in the prior year, the business earned $0.61 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts forecast that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.1242 per share. This represents a yield of 422.0%. The ex-dividend date of this dividend is Thursday, July 31st. Stag Industrial's payout ratio is currently 117.32%.

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.