Massachusetts Financial Services Co. MA Sells 4,014,022 Shares of Stag Industrial, Inc. (NYSE:STAG)

Massachusetts Financial Services Co. MA decreased its holdings in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 86.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 0.33% of Stag Industrial worth $22,332,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of Stag Industrial by 14.0% during the 1st quarter. Signaturefd LLC now owns 2,586 shares of the real estate investment trust's stock worth $93,000 after acquiring an additional 317 shares during the last quarter. Synovus Financial Corp grew its holdings in Stag Industrial by 1.8% in the fourth quarter. Synovus Financial Corp now owns 21,695 shares of the real estate investment trust's stock worth $734,000 after purchasing an additional 377 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Stag Industrial by 6.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,773 shares of the real estate investment trust's stock worth $229,000 after purchasing an additional 387 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Stag Industrial by 2.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,808 shares of the real estate investment trust's stock valued at $535,000 after buying an additional 394 shares during the last quarter. Finally, Securian Asset Management Inc. grew its holdings in shares of Stag Industrial by 2.9% during the first quarter. Securian Asset Management Inc. now owns 14,169 shares of the real estate investment trust's stock valued at $512,000 after buying an additional 395 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

Wall Street Analyst Weigh In

STAG has been the topic of several recent research reports. Raymond James Financial increased their price target 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. Royal Bank Of Canada reiterated 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 decreased their price target on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Stag Industrial presently has a consensus rating of "Hold" and an average price target of $39.71.

Insider Activity 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Stag Industrial Stock Up 1.3%

Shares of NYSE STAG traded up $0.46 during trading hours on Tuesday, hitting $36.09. 1,032,753 shares of the stock were exchanged, compared to its average volume of 1,280,291. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.86. The company has a market cap of $6.73 billion, a PE ratio of 27.13 and a beta of 0.93. The firm has a fifty day moving average price of $35.95 and a 200-day moving average price of $34.82. Stag Industrial, Inc. has a 12 month low of $28.61 and a 12 month high of $41.63.

Stag Industrial (NYSE:STAG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $205.57 million for the quarter, compared to analyst estimates of $202.04 million. Stag Industrial had a net margin of 31.05% and a return on equity of 7.04%. The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, sell-side analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, July 31st. This represents a yield of 4.22%. Stag Industrial's payout ratio is currently 112.03%.

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.