STAG Industrial, Inc. (NYSE:STAG) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in STAG Industrial, Inc. (NYSE:STAG) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,170 shares of the real estate investment trust’s stock after selling 9,173 shares during the period. Corebridge Financial Inc. owned 0.11% of STAG Industrial worth $6,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in STAG Industrial by 145.5% in the 3rd quarter. FMR LLC now owns 6,936,107 shares of the real estate investment trust’s stock valued at $271,132,000 after purchasing an additional 4,111,268 shares in the last quarter. Raymond James Financial Inc. acquired a new position in STAG Industrial during the fourth quarter worth about $57,561,000. Heitman Real Estate Securities LLC grew its stake in STAG Industrial by 19.8% during the 3rd quarter. Heitman Real Estate Securities LLC now owns 1,063,909 shares of the real estate investment trust’s stock valued at $41,588,000 after acquiring an additional 175,993 shares in the last quarter. Channing Capital Management LLC raised its holdings in STAG Industrial by 7.8% in the 4th quarter. Channing Capital Management LLC now owns 2,259,638 shares of the real estate investment trust’s stock valued at $76,421,000 after acquiring an additional 164,284 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in STAG Industrial by 15.7% in the 4th quarter. New York State Common Retirement Fund now owns 1,084,284 shares of the real estate investment trust’s stock worth $36,670,000 after purchasing an additional 146,942 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on STAG. Royal Bank of Canada cut their price target 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. Raymond James lifted their price target on STAG Industrial from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Barclays dropped their price objective on shares of STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, STAG Industrial has a consensus rating of “Moderate Buy” and an average target price of $40.38.

Insider Activity

In related news, Director Benjamin S. Butcher sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was 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 $338,083.20. This trade represents a 83.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

STAG Industrial Stock Up 0.4 %

Shares of NYSE:STAG opened at $35.58 on Friday. The business has a 50-day moving average price of $35.17 and a 200 day moving average price of $36.10. STAG Industrial, Inc. has a 12-month low of $32.27 and a 12-month high of $41.63. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 34.21 and a beta of 1.05.

STAG Industrial (NYSE:STAG) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.43. STAG Industrial had a net margin of 24.64% and a return on equity of 5.51%. Sell-side analysts expect that STAG Industrial, Inc. will post 2.47 EPS for the current year.

STAG Industrial Increases Dividend

The company also recently declared a dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.1242 per share. This is a positive change from STAG Industrial’s previous dividend of $0.12. This represents a dividend yield of 4.25%. The ex-dividend date was Friday, February 28th. STAG Industrial’s dividend payout ratio (DPR) is currently 143.27%.

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.