Nuveen Asset Management LLC Raises Stake in STAG Industrial, Inc. (NYSE:STAG)

Nuveen Asset Management LLC boosted its position in STAG Industrial, Inc. (NYSE:STAG) by 5.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,679,641 shares of the real estate investment trust’s stock after purchasing an additional 204,948 shares during the period. Nuveen Asset Management LLC’s holdings in STAG Industrial were worth $124,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of STAG. Norges Bank purchased a new stake in STAG Industrial in the fourth quarter worth approximately $75,471,000. FMR LLC boosted its stake in STAG Industrial by 30.1% in the fourth quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust’s stock worth $305,224,000 after buying an additional 2,088,839 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in STAG Industrial in the fourth quarter worth approximately $57,561,000. Northern Trust Corp boosted its stake in STAG Industrial by 33.3% in the fourth quarter. Northern Trust Corp now owns 2,090,046 shares of the real estate investment trust’s stock worth $70,685,000 after buying an additional 522,568 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake 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 buying an additional 425,362 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

STAG Industrial Price Performance

Shares of STAG Industrial stock opened at $35.86 on Friday. 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 has a market cap of $6.69 billion, a PE ratio of 34.48 and a beta of 0.93. The business has a 50 day moving average of $33.81 and a 200 day moving average of $34.80. STAG Industrial, Inc. has a 52 week low of $28.61 and a 52 week high of $41.63.

STAG Industrial (NYSE:STAG) 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. The company had revenue of $205.57 million during the quarter, compared to the consensus estimate of $202.04 million. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. As a group, equities research analysts forecast that STAG Industrial, Inc. will post 2.47 earnings per share for the current year.

STAG Industrial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.1242 per share. The ex-dividend date is Monday, June 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.16%. STAG Industrial’s dividend payout ratio is presently 112.03%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STAG. Raymond James increased their price objective on STAG Industrial from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Royal Bank of Canada dropped their price objective on STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating for the company in a research note on Monday, January 27th. Barclays dropped their price objective on STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Finally, Robert W. Baird dropped their price objective on STAG Industrial from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, STAG Industrial currently has a consensus rating of “Hold” and an average price target of $39.63.

Insider Activity at STAG Industrial

In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 9,632 shares in the company, valued at approximately $338,083.20. This represents a 83.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

STAG Industrial 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.