Sumitomo Mitsui DS Asset Management Company Ltd Buys 3,950 Shares of STAG Industrial, Inc. (NYSE:STAG)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in STAG Industrial, Inc. (NYSE:STAG) by 8.7% in the fourth quarter, HoldingsChannel reports. The firm owned 49,556 shares of the real estate investment trust’s stock after acquiring an additional 3,950 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in STAG Industrial were worth $1,676,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its holdings in shares of STAG Industrial by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 108,059 shares of the real estate investment trust’s stock worth $3,653,000 after acquiring an additional 488 shares during the period. Choreo LLC boosted its position in STAG Industrial by 42.1% in the fourth quarter. Choreo LLC now owns 16,944 shares of the real estate investment trust’s stock worth $572,000 after purchasing an additional 5,018 shares during the last quarter. Tectonic Advisors LLC grew its stake in shares of STAG Industrial by 17.1% during the 4th quarter. Tectonic Advisors LLC now owns 14,810 shares of the real estate investment trust’s stock valued at $501,000 after purchasing an additional 2,161 shares during the period. Virginia Wealth Management Group Inc. increased its position in shares of STAG Industrial by 1.8% during the 4th quarter. Virginia Wealth Management Group Inc. now owns 83,975 shares of the real estate investment trust’s stock valued at $2,840,000 after purchasing an additional 1,522 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of STAG Industrial by 7.8% in the 4th quarter. abrdn plc now owns 56,872 shares of the real estate investment trust’s stock worth $1,920,000 after purchasing an additional 4,091 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

STAG Industrial Trading Up 0.1 %

Shares of STAG stock opened at $34.70 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a fifty day simple moving average of $34.39 and a two-hundred day simple moving average of $37.10. The firm has a market capitalization of $6.32 billion, a PE ratio of 35.05 and a beta of 1.09. STAG Industrial, Inc. has a 52-week low of $32.27 and a 52-week high of $41.63.

STAG Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.1242 per share. This represents a $1.49 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Monday, March 31st. STAG Industrial’s dividend payout ratio (DPR) is presently 150.51%.

Analyst Upgrades and Downgrades

STAG has been the subject of several recent research reports. Raymond James boosted their target price 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. Barclays cut 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 research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Finally, 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. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.38.

STAG Industrial Company 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.