Thrivent Financial for Lutherans Increases Stock Position in STAG Industrial, Inc. (NYSE:STAG)

Thrivent Financial for Lutherans lifted its holdings in STAG Industrial, Inc. (NYSE:STAG) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 605,217 shares of the real estate investment trust’s stock after buying an additional 64,148 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.33% of STAG Industrial worth $21,825,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in STAG Industrial during the fourth quarter valued at $69,990,000. Cohen & Steers Inc. boosted its stake in STAG Industrial by 944.0% in the 4th quarter. Cohen & Steers Inc. now owns 1,121,330 shares of the real estate investment trust’s stock worth $44,023,000 after purchasing an additional 1,013,926 shares in the last quarter. Daiwa Securities Group Inc. grew its position in STAG Industrial by 89.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 1,268,181 shares of the real estate investment trust’s stock valued at $48,749,000 after purchasing an additional 598,788 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in STAG Industrial during the 2nd quarter valued at about $13,188,000. Finally, Bessemer Group Inc. increased its stake in STAG Industrial by 69.3% during the 1st quarter. Bessemer Group Inc. now owns 785,916 shares of the real estate investment trust’s stock valued at $30,211,000 after purchasing an additional 321,785 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

STAG Industrial Price Performance

NYSE STAG opened at $39.44 on Tuesday. The company has a 50-day moving average price of $39.77 and a 200-day moving average price of $37.37. STAG Industrial, Inc. has a 52 week low of $31.69 and a 52 week high of $41.63. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $7.18 billion, a P/E ratio of 39.44, a PEG ratio of 4.15 and a beta of 1.09.

STAG Industrial Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.1233 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This is an increase from STAG Industrial’s previous dividend of $0.12. This represents a yield of 3.63%. STAG Industrial’s dividend payout ratio (DPR) is presently 148.00%.

Insider Transactions at STAG Industrial

In other news, Director Benjamin S. Butcher sold 34,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $40.78, for a total value of $1,386,520.00. Following the completion of the sale, the director now directly owns 8,758 shares in the company, valued at approximately $357,151.24. The transaction 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

A number of research firms have recently commented on STAG. Wedbush increased their price target on shares of STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company lifted their target price on STAG Industrial from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Barclays boosted their price target on STAG Industrial from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. BNP Paribas began coverage on STAG Industrial in a research report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 price objective on the stock. Finally, Evercore ISI boosted their target price on STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, STAG Industrial has an average rating of “Hold” and an average price target of $41.22.

STAG Industrial Profile

We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.