The Manufacturers Life Insurance Company Has $6.66 Million Stake in STAG Industrial, Inc. (NYSE:STAG)

The Manufacturers Life Insurance Company boosted its holdings in STAG Industrial, Inc. (NYSE:STAG) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,646 shares of the real estate investment trust’s stock after purchasing an additional 4,366 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.10% of STAG Industrial worth $6,658,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of STAG Industrial by 56.1% during the 2nd quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 326 shares during the period. Insight Folios Inc raised its position in STAG Industrial by 4.1% in the 1st quarter. Insight Folios Inc now owns 8,678 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 341 shares during the period. Claro Advisors LLC raised its position in STAG Industrial by 5.8% in the 1st quarter. Claro Advisors LLC now owns 6,433 shares of the real estate investment trust’s stock worth $247,000 after purchasing an additional 352 shares during the period. Resources Management Corp CT ADV grew its holdings in STAG Industrial by 1.3% in the 2nd quarter. Resources Management Corp CT ADV now owns 29,475 shares of the real estate investment trust’s stock worth $1,063,000 after acquiring an additional 370 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of STAG Industrial by 1.0% during the 1st quarter. New York State Teachers Retirement System now owns 39,005 shares of the real estate investment trust’s stock valued at $1,499,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

STAG has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of STAG Industrial from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Evercore ISI raised their price target on STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Barclays upped their price objective on STAG Industrial from $38.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Wedbush upped their price target on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.22.

STAG Industrial Trading Down 1.1 %

NYSE STAG opened at $37.67 on Friday. STAG Industrial, Inc. has a one year low of $31.69 and a one year high of $41.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm’s fifty day moving average is $39.64 and its two-hundred day moving average is $37.44. The firm has a market cap of $6.86 billion, a PE ratio of 37.67, a P/E/G ratio of 3.95 and a beta of 1.09.

STAG Industrial Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.1233 per share. This is an increase from STAG Industrial’s previous dividend of $0.12. This represents a dividend yield of 3.63%. The ex-dividend date was Wednesday, July 31st. STAG Industrial’s payout ratio is currently 148.00%.

Insider Activity at STAG Industrial

In related news, Director Benjamin S. Butcher sold 34,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 trade was a 0.00 % 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 the SEC website. Corporate insiders own 1.10% of the company’s stock.

About STAG Industrial

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.