William Blair Investment Management LLC bought a new position in shares of STAG Industrial, Inc. (NYSE:STAG – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,022,017 shares of the real estate investment trust’s stock, valued at approximately $34,565,000. William Blair Investment Management LLC owned about 0.57% of STAG Industrial as of its most recent SEC filing.
A number of other large investors have also modified their holdings of STAG. Eagle Bay Advisors LLC purchased a new stake in shares of STAG Industrial in the second quarter valued at approximately $27,000. Sound Income Strategies LLC boosted its stake in STAG Industrial by 45.0% during the first quarter. Sound Income Strategies LLC now owns 1,006 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 312 shares during the last quarter. HM Payson & Co. purchased a new stake in STAG Industrial in the 1st quarter valued at $34,000. Itau Unibanco Holding S.A. purchased a new stake in STAG Industrial in the 4th quarter valued at $36,000. Finally, Institutional & Family Asset Management LLC increased its stake in shares of STAG Industrial by 48.5% in the 1st quarter. Institutional & Family Asset Management LLC now owns 1,391 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 454 shares during the last quarter. Hedge funds and other institutional investors own 88.68% of the company’s stock.
Insider Transactions at STAG Industrial
In related news, Director Benjamin S. Butcher sold 30,000 shares of STAG Industrial stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $36.47, for a total value of $1,094,100.00. Following the completion of the transaction, the director now owns 7,088 shares in the company, valued at $258,499.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.
Analyst Ratings Changes
STAG has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of STAG Industrial from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 11th. StockNews.com started coverage on shares of STAG Industrial in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Wells Fargo & Company lifted their price target on shares of STAG Industrial from $33.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of STAG Industrial in a research report on Thursday, August 17th. Finally, Raymond James lifted their target price on STAG Industrial from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.43.
STAG Industrial Stock Down 0.7 %
NYSE:STAG opened at $36.53 on Friday. The stock’s fifty day moving average is $36.33 and its two-hundred day moving average is $34.90. STAG Industrial, Inc. has a 52 week low of $26.56 and a 52 week high of $38.83. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 5.19 and a beta of 1.01.
STAG Industrial Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.1225 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.47 annualized dividend and a dividend yield of 4.02%. STAG Industrial’s dividend payout ratio is presently 134.86%.
STAG Industrial Profile
We are a REIT focused on the acquisition, ownership and operation of industrial properties throughout the United States. We seek to (i) identify properties for acquisition that offer relative value across all locations, industrial property types, and tenants through the principled application of our proprietary risk assessment model, (ii) operate our properties in an efficient, cost-effective manner, and (iii) capitalize our business appropriately given the characteristics of our assets.
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