Stag Industrial, Inc. $STAG Shares Sold by GW&K Investment Management LLC

Key Points

• GW&K Investment Management trimmed its stake in Stag Industrial by 11% in Q3 to 1,129,375 shares (≈$39.86M), and institutional investors now hold 88.67% of the stock.
• Insider selling accelerated recently: EVP Matts Pinard and CEO William Crooker sold 25,242 and 93,732 shares on Feb 23, and insiders have disposed of 136,974 shares (~$5.35M) in the past 90 days, leaving insiders with ~1.10% ownership.
• Stag beat quarterly estimates with $0.66 EPS vs $0.63 expected and revenue of $220.9M (up 10.8% YoY), and announced a quarterly dividend of $0.3875 ($1.55 annualized) for a yield of 3.9% (payout ratio 102%).

GW&K Investment Management LLC lowered its stake in shares of Stag Industrial, Inc. (NYSE:STAG - Free Report) by 11.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,129,375 shares of the real estate investment trust's stock after selling 139,225 shares during the period. GW&K Investment Management LLC owned 0.60% of Stag Industrial worth $39,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Root Financial Partners LLC acquired a new stake in Stag Industrial during the third quarter worth $43,000. EverSource Wealth Advisors LLC lifted its stake in shares of Stag Industrial by 270.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,436 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 1,048 shares during the last quarter. Covestor Ltd grew its holdings in shares of Stag Industrial by 98.5% during the 3rd quarter. Covestor Ltd now owns 1,769 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 878 shares during the period. Huntington National Bank increased its position in shares of Stag Industrial by 23.2% during the 2nd quarter. Huntington National Bank now owns 3,495 shares of the real estate investment trust's stock worth $127,000 after purchasing an additional 659 shares during the last quarter. Finally, Aew Capital Management L P raised its holdings in Stag Industrial by 19.4% in the 3rd quarter. Aew Capital Management L P now owns 4,300 shares of the real estate investment trust's stock valued at $152,000 after buying an additional 700 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on STAG shares. Wall Street Zen raised Stag Industrial from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Wells Fargo & Company boosted their price objective on Stag Industrial from $37.00 to $38.00 and gave the company an "equal weight" rating in a report on Monday, November 10th. Citigroup increased their target price on Stag Industrial from $35.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 11th. Robert W. Baird set a $40.00 target price on Stag Industrial in a report on Tuesday, February 17th. Finally, iA Financial set a $39.00 price target on shares of Stag Industrial in a research note on Tuesday, January 13th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Stag Industrial has a consensus rating of "Hold" and an average price target of $39.50.

Insider Transactions at Stag Industrial

In related news, EVP Matts Pinard sold 25,242 shares of the business's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $39.18, for a total transaction of $988,981.56. Following the sale, the executive vice president owned 951 shares of the company's stock, valued at approximately $37,260.18. The trade was a 96.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William R. Crooker sold 93,732 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $39.17, for a total value of $3,671,482.44. The SEC filing for this sale provides additional information. Insiders have sold a total of 136,974 shares of company stock worth $5,345,904 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Stag Industrial Trading Up 0.4%

STAG opened at $39.51 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.90 and a current ratio of 1.90. Stag Industrial, Inc. has a one year low of $28.61 and a one year high of $39.98. The company has a market cap of $7.55 billion, a P/E ratio of 27.06 and a beta of 1.04. The business's 50-day simple moving average is $38.00 and its 200-day simple moving average is $37.55.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. Stag Industrial had a net margin of 32.35% and a return on equity of 7.68%. The firm had revenue of $220.90 million for the quarter, compared to analyst estimates of $213.66 million. During the same period last year, the business earned $0.61 EPS. Stag Industrial's revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stag Industrial's payout ratio is currently 102.05%.

About Stag Industrial

Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company's portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.

Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.

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