Cohen & Steers Inc. Raises Stake in STAG Industrial, Inc. (NYSE:STAG)

Cohen & Steers Inc. raised its stake in STAG Industrial, Inc. (NYSE:STAG) by 944.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,121,330 shares of the real estate investment trust’s stock after buying an additional 1,013,926 shares during the quarter. Cohen & Steers Inc. owned approximately 0.62% of STAG Industrial worth $44,023,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. acquired a new position in shares of STAG Industrial in the 3rd quarter valued at $324,000. J.P. Morgan Private Wealth Advisors LLC increased its holdings in shares of STAG Industrial by 1.6% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 25,694 shares of the real estate investment trust’s stock valued at $887,000 after acquiring an additional 413 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of STAG Industrial by 6.4% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 8,105 shares of the real estate investment trust’s stock valued at $281,000 after acquiring an additional 491 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of STAG Industrial by 213.1% in the 3rd quarter. Van ECK Associates Corp now owns 63,635 shares of the real estate investment trust’s stock valued at $2,196,000 after acquiring an additional 43,313 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in STAG Industrial by 27.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,571 shares of the real estate investment trust’s stock worth $296,000 after buying an additional 1,842 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STAG has been the topic of a number of research reports. BMO Capital Markets restated an “outperform” rating and set a $42.00 price target (up previously from $41.00) on shares of STAG Industrial in a research note on Monday, April 8th. BNP Paribas initiated coverage on STAG Industrial in a research note on Tuesday, June 4th. They set a “neutral” rating and a $39.00 price target on the stock. Barclays dropped their price target on STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Finally, Royal Bank of Canada lifted their target price on STAG Industrial from $39.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.00.

Insider Buying and Selling

In related news, Director Benjamin S. Butcher sold 30,000 shares of STAG Industrial stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $34.81, for a total transaction of $1,044,300.00. Following the completion of the transaction, the director now directly owns 8,304 shares of the company’s stock, valued at $289,062.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

STAG Industrial Price Performance

Shares of STAG traded up $0.15 during mid-day trading on Wednesday, hitting $35.23. The company’s stock had a trading volume of 1,244,233 shares, compared to its average volume of 1,094,938. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.78. The firm has a 50-day simple moving average of $35.55 and a 200 day simple moving average of $37.04. The firm has a market capitalization of $6.41 billion, a P/E ratio of 35.95, a P/E/G ratio of 4.94 and a beta of 1.08. STAG Industrial, Inc. has a 1-year low of $31.69 and a 1-year high of $39.61.

STAG Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.1233 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.48 annualized dividend and a yield of 4.20%. STAG Industrial’s dividend payout ratio is presently 148.00%.

STAG Industrial 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.