Wedge Capital Management L L P NC Has $10.04 Million Position in Stag Industrial, Inc. $STAG

Key Points

• Wedge Capital Management has reduced its holdings in Stag Industrial, Inc. by 6.2%, now owning approximately 276,856 shares valued at about $10 million.
• In other recent activity, insider Benjamin S. Butcher sold 25,000 shares of the company, significantly reducing his ownership by 76.78%.
• Stag Industrial recently declared a monthly dividend of $0.1242 per share, providing an annualized yield of 4.3%, and has a current payout ratio of 117.32%.

Wedge Capital Management L L P NC cut its stake in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,856 shares of the real estate investment trust's stock after selling 18,146 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.15% of Stag Industrial worth $10,044,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Stag Industrial by 204.9% in the first quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 506 shares during the period. Tsfg LLC bought a new position in shares of Stag Industrial in the first quarter valued at about $32,000. Garde Capital Inc. bought a new position in shares of Stag Industrial in the first quarter valued at about $33,000. Avalon Trust Co bought a new position in shares of Stag Industrial in the first quarter valued at about $36,000. Finally, Keystone Global Partners LLC bought a new position in shares of Stag Industrial in the first quarter valued at about $41,000. 88.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI increased their price objective on shares of Stag Industrial from $40.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $38.33.

Insider Activity

In other news, Director Benjamin S. Butcher sold 25,000 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $36.91, for a total value of $922,750.00. Following the transaction, the director owned 7,562 shares in the company, valued at approximately $279,113.42. The trade was a 76.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company's stock.

Stag Industrial Trading Up 0.9%

NYSE:STAG traded up $0.31 during mid-day trading on Tuesday, hitting $35.20. 693,017 shares of the company's stock were exchanged, compared to its average volume of 1,464,502. The company has a 50 day simple moving average of $35.65 and a 200-day simple moving average of $35.13. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86. Stag Industrial, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $39.80. The firm has a market capitalization of $6.57 billion, a P/E ratio of 27.68 and a beta of 0.94.

Stag Industrial (NYSE:STAG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, hitting 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 period last year, the company earned $0.61 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. As a group, research analysts expect that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.1242 dividend. The ex-dividend date was Friday, August 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. Stag Industrial's payout ratio is 117.32%.

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.