Surevest LLC lifted its position in STAG Industrial, Inc. (NYSE:STAG – Get Rating) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,670 shares of the real estate investment trust’s stock after buying an additional 4,039 shares during the period. Surevest LLC’s holdings in STAG Industrial were worth $1,981,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. SRS Capital Advisors Inc. boosted its stake in STAG Industrial by 2,252.3% in the 2nd quarter. SRS Capital Advisors Inc. now owns 1,035 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 991 shares during the period. Bessemer Group Inc. raised its holdings in shares of STAG Industrial by 43.7% in the 3rd quarter. Bessemer Group Inc. now owns 312,724 shares of the real estate investment trust’s stock valued at $8,891,000 after purchasing an additional 95,113 shares during the period. IFP Advisors Inc raised its holdings in STAG Industrial by 87.7% in the 3rd quarter. IFP Advisors Inc now owns 3,457 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 1,615 shares during the period. Y Intercept Hong Kong Ltd bought a new position in STAG Industrial in the 2nd quarter valued at about $320,000. Finally, Northern Oak Wealth Management Inc. increased its holdings in shares of STAG Industrial by 165.3% during the second quarter. Northern Oak Wealth Management Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,273 shares during the period. Institutional investors own 85.21% of the company’s stock.
Insider Buying and Selling at STAG Industrial
In other news, insider Benjamin S. Butcher sold 19,923 shares of STAG Industrial stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $34.69, for a total transaction of $691,128.87. Following the sale, the insider now owns 7,088 shares in the company, valued at $245,882.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.
STAG Industrial Stock Performance
Shares of STAG traded up $0.41 on Wednesday, reaching $33.71. The company’s stock had a trading volume of 266,406 shares, compared to its average volume of 986,938. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.45 and a quick ratio of 1.45. STAG Industrial, Inc. has a 12-month low of $26.56 and a 12-month high of $42.49. The stock has a market capitalization of $6.05 billion, a P/E ratio of 33.30, a PEG ratio of 5.17 and a beta of 1.01. The stock’s 50 day simple moving average is $34.57 and its two-hundred day simple moving average is $32.35.
STAG Industrial Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be issued a dividend of $0.1225 per share. This represents a $1.47 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Thursday, March 30th. STAG Industrial’s dividend payout ratio is currently 147.00%.
Analysts Set New Price Targets
Several analysts recently issued reports on STAG shares. Wells Fargo & Company lowered shares of STAG Industrial from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $36.00 to $34.00 in a research report on Tuesday, November 22nd. BMO Capital Markets started coverage on shares of STAG Industrial in a research note on Monday, February 6th. They issued an “outperform” rating and a $41.00 price target for the company. TheStreet upgraded shares of STAG Industrial from a “c+” rating to a “b” rating in a report on Wednesday, November 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of STAG Industrial from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.83.
About STAG Industrial
STAG Industrial, Inc is a real estate investment trust, which focuses on acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.