Bank of New York Mellon Corp Sells 56,536 Shares of STAG Industrial, Inc. (NYSE:STAG)

Bank of New York Mellon Corp lessened its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,843,519 shares of the real estate investment trust’s stock after selling 56,536 shares during the period. Bank of New York Mellon Corp owned approximately 1.01% of STAG Industrial worth $62,348,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new stake in shares of STAG Industrial during the fourth quarter worth approximately $43,000. Coastline Trust Co bought a new stake in shares of STAG Industrial during the third quarter worth approximately $55,000. Hilltop National Bank boosted its holdings in shares of STAG Industrial by 19.2% during the fourth quarter. Hilltop National Bank now owns 2,243 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 362 shares during the period. Principal Securities Inc. boosted its holdings in shares of STAG Industrial by 20.7% during the fourth quarter. Principal Securities Inc. now owns 2,977 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 510 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in shares of STAG Industrial during the fourth quarter worth approximately $109,000. Institutional investors own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on STAG shares. Royal Bank of Canada reduced their price objective on STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating for the company in a report on Monday, January 27th. Barclays dropped their price target on shares of STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, Raymond James lifted their price target on shares of STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.38.

STAG Industrial Stock Down 0.1 %

Shares of STAG opened at $36.08 on Wednesday. STAG Industrial, Inc. has a one year low of $32.27 and a one year high of $41.63. The company has a market cap of $6.73 billion, a P/E ratio of 34.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a 50 day simple moving average of $34.42 and a two-hundred day simple moving average of $36.60.

STAG Industrial (NYSE:STAG) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.61 EPS for the quarter, beating the consensus estimate of $0.18 by $0.43. STAG Industrial had a net margin of 24.64% and a return on equity of 5.51%. Research analysts forecast that STAG Industrial, Inc. will post 2.47 EPS for the current fiscal year.

STAG Industrial Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.1242 per share. The ex-dividend date is Friday, February 28th. This is an increase from STAG Industrial’s previous dividend of $0.12. This represents a dividend yield of 4.25%. STAG Industrial’s dividend payout ratio is 143.27%.

Insider Transactions at STAG Industrial

In other news, Director Benjamin S. Butcher sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $35.10, for a total transaction of $1,755,000.00. Following the completion of the transaction, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

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.