STAG Industrial, Inc. (NYSE:STAG) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its stake in STAG Industrial, Inc. (NYSE:STAG) by 4.3% during the 4th quarter, Holdings Channel reports. The fund owned 206,170 shares of the real estate investment trust’s stock after selling 9,173 shares during the quarter. Corebridge Financial Inc.’s holdings in STAG Industrial were worth $6,973,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC raised its position in STAG Industrial by 10.3% in the 4th quarter. LPL Financial LLC now owns 136,261 shares of the real estate investment trust’s stock valued at $4,608,000 after purchasing an additional 12,735 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in STAG Industrial in the fourth quarter valued at approximately $351,000. KLP Kapitalforvaltning AS acquired a new stake in STAG Industrial in the fourth quarter valued at approximately $1,276,000. Sei Investments Co. lifted its stake in STAG Industrial by 10.8% in the fourth quarter. Sei Investments Co. now owns 586,930 shares of the real estate investment trust’s stock worth $19,850,000 after acquiring an additional 57,341 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in STAG Industrial by 3.4% during the 4th quarter. American Century Companies Inc. now owns 63,082 shares of the real estate investment trust’s stock worth $2,133,000 after acquiring an additional 2,045 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on STAG shares. Royal Bank of Canada decreased their price objective on shares of STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday, January 27th. Raymond James lifted their price target on STAG Industrial from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Barclays dropped their price objective on STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.38.

STAG Industrial Stock Performance

Shares of STAG stock opened at $35.58 on Friday. The stock’s 50-day moving average is $35.17 and its two-hundred day moving average is $36.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. STAG Industrial, Inc. has a 1 year low of $32.27 and a 1 year high of $41.63. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 34.21 and a beta of 1.05.

STAG Industrial (NYSE:STAG) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.43. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. Analysts predict that STAG Industrial, Inc. will post 2.47 earnings per share for the current year.

STAG Industrial Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.1242 dividend. This represents a dividend yield of 4.25%. This is a boost from STAG Industrial’s previous dividend of $0.12. The ex-dividend date was Friday, February 28th. STAG Industrial’s payout ratio is presently 143.27%.

Insider Activity at STAG Industrial

In related news, Director Benjamin S. Butcher sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $35.10, for a total value of $1,755,000.00. Following the transaction, the director now owns 9,632 shares in the company, valued at $338,083.20. The trade was a 83.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.

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.