STAG Industrial, Inc. (NYSE:STAG) Stake Cut by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 21.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 358,612 shares of the real estate investment trust’s stock after selling 97,442 shares during the period. Wedge Capital Management L L P NC owned about 0.20% of STAG Industrial worth $14,018,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its holdings in shares of STAG Industrial by 89.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,268,181 shares of the real estate investment trust’s stock worth $48,749,000 after purchasing an additional 598,788 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of STAG Industrial in the second quarter worth $13,188,000. Bessemer Group Inc. increased its holdings in shares of STAG Industrial by 69.3% during the first 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 during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of STAG Industrial by 14.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,660,562 shares of the real estate investment trust’s stock valued at $63,832,000 after purchasing an additional 209,670 shares in the last quarter. Finally, F M Investments LLC acquired a new stake in STAG Industrial in the second quarter worth about $6,534,000. 88.67% of the stock is currently owned by institutional investors.

STAG Industrial Price Performance

NYSE STAG opened at $37.36 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.82. STAG Industrial, Inc. has a 1 year low of $31.69 and a 1 year high of $41.63. The company has a market cap of $6.80 billion, a PE ratio of 35.92 and a beta of 1.09. The stock’s 50-day moving average price is $39.27 and its two-hundred day moving average price is $37.41.

STAG Industrial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.1233 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.96%. STAG Industrial’s dividend payout ratio (DPR) is presently 142.31%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Benjamin S. Butcher sold 34,000 shares of the firm’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 owns 8,758 shares of the company’s stock, valued at $357,151.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

STAG Industrial Company 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.