Ontario Teachers Pension Plan Board Sells 25,986 Shares of Stag Industrial, Inc. (NYSE:STAG)

Key Points

• The Ontario Teachers Pension Plan Board significantly reduced its holdings in Stag Industrial by 70%, now owning 11,138 shares valued at approximately $402,000.
• Insider trading activity included Director Benjamin S. Butcher selling 28,843 shares of Stag Industrial, representing an 80.21% decrease in his ownership, totaling over $1 million.
• Stag Industrial recently announced a dividend of $0.1242 per share, with a payout ratio of 117.32% and a dividend yield of 422.0%.

Ontario Teachers Pension Plan Board reduced its position in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 70.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,138 shares of the real estate investment trust's stock after selling 25,986 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Stag Industrial were worth $402,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of STAG. Versant Capital Management Inc grew its position 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 valued at $27,000 after buying an additional 506 shares during the period. Tsfg LLC bought a new position in shares of Stag Industrial in the first quarter worth approximately $32,000. Garde Capital Inc. bought a new position in shares of Stag Industrial in the first quarter worth approximately $33,000. Avalon Trust Co bought a new position in shares of Stag Industrial in the first quarter worth approximately $36,000. Finally, Harbour Investments Inc. boosted its position in shares of Stag Industrial by 187.7% in the first quarter. Harbour Investments Inc. now owns 1,260 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 822 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Stag Industrial Price Performance

Stag Industrial stock traded up $0.42 during mid-day trading on Wednesday, reaching $35.18. 946,620 shares of the company's stock traded hands, compared to its average volume of 1,497,748. Stag Industrial, Inc. has a 12-month low of $28.61 and a 12-month high of $40.75. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 27.70 and a beta of 0.91. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average of $35.89 and a two-hundred day moving average of $34.97.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The business had revenue of $207.44 million for the quarter, compared to the consensus estimate of $206.37 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Equities 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 declared a dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued 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 is presently 117.32%.

Analysts Set New Price Targets

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

Insider Activity at Stag Industrial

In other news, Director Benjamin S. Butcher sold 28,843 shares of the company's 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 transaction, the director directly owned 7,115 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

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.