Massachusetts Financial Services Co. MA Trims Stock Position in Stag Industrial, Inc. (NYSE:STAG)

Massachusetts Financial Services Co. MA cut its stake in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 86.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 618,285 shares of the real estate investment trust's stock after selling 4,014,022 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.33% of Stag Industrial worth $22,332,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its position in Stag Industrial by 30.1% during the fourth quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust's stock valued at $305,224,000 after purchasing an additional 2,088,839 shares during the period. Earnest Partners LLC lifted its position in Stag Industrial by 6.6% during the fourth 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 period. Nuveen Asset Management LLC lifted its position in Stag Industrial by 5.9% during 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 position in Stag Industrial by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,421,549 shares of the real estate investment trust's stock valued at $115,748,000 after purchasing an additional 18,009 shares during the period. Finally, Boston Trust Walden Corp lifted its position in Stag Industrial by 17.5% during the first quarter. Boston Trust Walden Corp now owns 2,942,495 shares of the real estate investment trust's stock valued at $106,283,000 after purchasing an additional 437,527 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stag Industrial

In other Stag Industrial 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 transaction of $1,064,306.70. Following the sale, the director directly owned 7,115 shares in the company, valued at $262,543.50. This represents a 80.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

STAG has been the subject of a number of research reports. Royal Bank Of Canada restated a "sector perform" rating and set a $38.00 target price on shares of Stag Industrial in a research 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, Robert W. Baird decreased their price objective on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Four 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 stock presently has an average rating of "Hold" and a consensus price target of $39.71.

Stag Industrial Price Performance

Shares of STAG traded up $0.35 during mid-day trading on Friday, hitting $35.63. 1,254,624 shares of the company were exchanged, compared to its average volume of 1,282,627. Stag Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $41.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.25 and a current ratio of 1.25. The company has a 50 day moving average of $35.95 and a 200-day moving average of $34.80. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 26.79 and a beta of 0.93.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings data 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 net margin of 31.05% and a return on equity of 7.04%. The company had revenue of $205.57 million during the quarter, compared to analysts' expectations of $202.04 million. During the same quarter in the prior year, the company earned $0.59 EPS. Stag Industrial's revenue was up 9.7% compared to the same quarter last year. Analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $0.1242 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a dividend yield of 4.22%. Stag Industrial's payout ratio is currently 112.03%.

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.