Mirae Asset Global Investments Co. Ltd. Lowers Stock Holdings in STAG Industrial, Inc. (NYSE:STAG)

Mirae Asset Global Investments Co. Ltd. lowered its position in STAG Industrial, Inc. (NYSE:STAG) by 28.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,082 shares of the real estate investment trust’s stock after selling 1,985 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in STAG Industrial were worth $172,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Virginia Wealth Management Group Inc. boosted its stake in shares of STAG Industrial by 1.8% in the fourth quarter. Virginia Wealth Management Group Inc. now owns 83,975 shares of the real estate investment trust’s stock worth $2,840,000 after acquiring an additional 1,522 shares during the period. abrdn plc lifted its holdings in STAG Industrial by 7.8% in the 4th quarter. abrdn plc now owns 56,872 shares of the real estate investment trust’s stock worth $1,920,000 after purchasing an additional 4,091 shares in the last quarter. Ibex Wealth Advisors purchased a new position in STAG Industrial in the 4th quarter worth approximately $4,562,000. Hantz Financial Services Inc. boosted its stake in STAG Industrial by 13.9% in the 4th quarter. Hantz Financial Services Inc. now owns 8,898 shares of the real estate investment trust’s stock worth $301,000 after purchasing an additional 1,085 shares during the period. Finally, Vert Asset Management LLC grew its holdings in STAG Industrial by 5.2% during the 4th quarter. Vert Asset Management LLC now owns 79,516 shares of the real estate investment trust’s stock valued at $2,689,000 after buying an additional 3,948 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

STAG Industrial Stock Performance

STAG Industrial stock opened at $35.34 on Friday. The company’s 50-day moving average price is $34.33 and its 200-day moving average price is $37.03. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.87. The company has a market cap of $6.44 billion, a PE ratio of 35.69 and a beta of 1.09. STAG Industrial, Inc. has a twelve month low of $32.27 and a twelve month high of $41.63.

STAG Industrial (NYSE:STAG) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.43. STAG Industrial had a return on equity of 5.27% and a net margin of 23.94%. On average, equities research analysts forecast that STAG Industrial, Inc. will post 2.41 EPS for the current fiscal year.

STAG Industrial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.1242 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.49 annualized dividend and a yield of 4.22%. STAG Industrial’s payout ratio is presently 150.51%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada dropped 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. Wells Fargo & Company decreased their price target on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Raymond James raised their price objective on STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Barclays decreased their target price on STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.38.

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.