Public Employees Retirement System of Ohio Cuts Stock Position in STAG Industrial, Inc. (NYSE:STAG)

Public Employees Retirement System of Ohio lessened its holdings in STAG Industrial, Inc. (NYSE:STAG) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 329,987 shares of the real estate investment trust’s stock after selling 8,051 shares during the period. Public Employees Retirement System of Ohio owned about 0.18% of STAG Industrial worth $12,685,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in STAG. J.Safra Asset Management Corp grew its holdings in STAG Industrial by 708.5% during the 1st quarter. J.Safra Asset Management Corp now owns 663 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 581 shares in the last quarter. Spire Wealth Management grew its holdings in STAG Industrial by 124.1% during the 4th quarter. Spire Wealth Management now owns 688 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 381 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in STAG Industrial during the 1st quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new stake in STAG Industrial during the 4th quarter valued at $31,000. Finally, ICA Group Wealth Management LLC acquired a new stake in STAG Industrial during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $42.00 price target (up from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. BNP Paribas began coverage on shares of STAG Industrial in a report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 price target for the company. Wedbush raised shares of STAG Industrial from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $38.00 to $44.00 in a report on Monday, July 22nd. Finally, Barclays decreased their price objective on shares of STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, May 24th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, STAG Industrial presently has a consensus rating of “Hold” and a consensus target price of $39.50.

Insider Activity

In other news, Director Benjamin S. Butcher sold 30,000 shares of STAG Industrial stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $34.81, for a total value of $1,044,300.00. Following the completion of the transaction, the director now directly owns 8,304 shares of the company’s stock, valued at approximately $289,062.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

STAG Industrial Stock Performance

Shares of NYSE STAG traded down $0.03 during midday trading on Monday, hitting $40.40. The company’s stock had a trading volume of 673,131 shares, compared to its average volume of 1,130,603. STAG Industrial, Inc. has a 1-year low of $31.69 and a 1-year high of $40.68. The firm’s fifty day moving average price is $36.25 and its 200-day moving average price is $36.79. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market cap of $7.36 billion, a P/E ratio of 40.43, a P/E/G ratio of 5.71 and a beta of 1.09.

STAG Industrial Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.1233 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, September 30th. STAG Industrial’s dividend payout ratio (DPR) is presently 148.00%.

STAG Industrial Company Profile

We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.