Wedge Capital Management L L P NC Sells 64,559 Shares of STAG Industrial, Inc. (NYSE:STAG)

Wedge Capital Management L L P NC cut its holdings in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 18.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 295,002 shares of the real estate investment trust's stock after selling 64,559 shares during the quarter. Wedge Capital Management L L P NC owned 0.16% of STAG Industrial worth $10,655,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in STAG. Janney Montgomery Scott LLC purchased a new position in shares of STAG Industrial during the fourth quarter worth approximately $411,000. abrdn plc grew its holdings in shares of STAG Industrial by 7.8% in the fourth quarter. abrdn plc now owns 56,872 shares of the real estate investment trust's stock worth $1,920,000 after purchasing an additional 4,091 shares during the last quarter. Choreo LLC grew its holdings in shares of STAG Industrial by 42.1% in the fourth quarter. Choreo LLC now owns 16,944 shares of the real estate investment trust's stock worth $572,000 after purchasing an additional 5,018 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of STAG Industrial by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 108,059 shares of the real estate investment trust's stock worth $3,653,000 after purchasing an additional 488 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of STAG Industrial by 8.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,556 shares of the real estate investment trust's stock worth $1,676,000 after purchasing an additional 3,950 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STAG has been the topic of several recent analyst reports. Royal Bank of Canada restated a "sector perform" rating and issued a $38.00 target price on shares of STAG Industrial in a report on Monday, May 19th. Robert W. Baird cut 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. Finally, Raymond James lifted their price target on shares of STAG Industrial from $36.00 to $38.00 and gave the company an "outperform" rating in a 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 MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $39.71.

Insider Activity

In related 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 now owns 7,115 shares in the company, valued at $262,543.50. The trade was a 80.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

STAG Industrial Stock Up 0.0%

Shares of STAG stock traded up $0.00 during mid-day trading on Tuesday, reaching $37.01. 1,618,730 shares of the company's stock traded hands, compared to its average volume of 1,264,401. STAG Industrial, Inc. has a 12 month low of $28.61 and a 12 month high of $41.63. The company has a market cap of $6.91 billion, a P/E ratio of 35.59 and a beta of 0.94. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.86. The company's 50-day moving average price is $33.84 and its 200-day moving average price is $34.62.

STAG Industrial (NYSE:STAG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. STAG Industrial had a net margin of 24.64% and a return on equity of 5.51%. The firm had revenue of $205.57 million for the quarter, compared to analysts' expectations of $202.04 million. During the same quarter in the previous year, the business posted $0.59 EPS. The company's quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that STAG Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

STAG Industrial Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.1242 per share. This represents a dividend yield of 4.37%. The ex-dividend date of this dividend is Friday, May 30th. STAG Industrial's dividend payout ratio (DPR) is presently 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.