Pinebridge Investments L.P. Acquires 1,001 Shares of STAG Industrial, Inc. (NYSE:STAG)

Pinebridge Investments L.P. raised its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 4.3% during the fourth quarter, HoldingsChannel reports. The fund owned 24,200 shares of the real estate investment trust’s stock after purchasing an additional 1,001 shares during the quarter. Pinebridge Investments L.P.’s holdings in STAG Industrial were worth $818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of STAG. Norges Bank purchased a new position in shares of STAG Industrial during the 4th quarter valued at $75,471,000. FMR LLC grew its position in shares of STAG Industrial by 30.1% during the 4th quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust’s stock valued at $305,224,000 after purchasing an additional 2,088,839 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of STAG Industrial during the 4th quarter valued at $57,561,000. Franklin Resources Inc. grew its position in STAG Industrial by 114.3% in the fourth quarter. Franklin Resources Inc. now owns 797,457 shares of the real estate investment trust’s stock worth $26,970,000 after acquiring an additional 425,362 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in STAG Industrial by 19.3% in the fourth quarter. Prudential Financial Inc. now owns 1,809,679 shares of the real estate investment trust’s stock worth $61,203,000 after acquiring an additional 292,252 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Insider Activity

In related news, Director Benjamin S. Butcher sold 50,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $35.10, for a total value of $1,755,000.00. Following the completion of the transaction, the director now directly owns 9,632 shares of the company’s stock, valued at $338,083.20. This represents a 83.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

STAG has been the subject of several research reports. Barclays cut their target price on shares of STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Raymond James cut their target price on shares of STAG Industrial from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Royal Bank of Canada cut their target price 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.57.

STAG Industrial Stock Performance

NYSE STAG opened at $32.84 on Tuesday. The company has a 50-day simple moving average of $34.32 and a two-hundred day simple moving average of $35.11. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.86. STAG Industrial, Inc. has a 12-month low of $28.61 and a 12-month high of $41.63. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 31.58 and a beta of 0.96.

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

STAG Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.1242 per share. This represents a $1.49 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, June 30th. STAG Industrial’s dividend payout ratio (DPR) is 143.27%.

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.