STAG Industrial, Inc. (NYSE:STAG) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lowered its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 0.6% in the fourth quarter, Holdings Channel reports. The firm owned 110,527 shares of the real estate investment trust’s stock after selling 640 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in STAG Industrial were worth $3,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. FMR LLC grew its position 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 buying an additional 4,111,268 shares during the last quarter. Geode Capital Management LLC grew its position in STAG Industrial by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,403,540 shares of the real estate investment trust’s stock valued at $133,077,000 after buying an additional 21,925 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in STAG Industrial by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,169,164 shares of the real estate investment trust’s stock valued at $123,883,000 after buying an additional 227,629 shares during the last quarter. Channing Capital Management LLC grew its holdings in STAG Industrial by 7.8% during the fourth quarter. Channing Capital Management LLC now owns 2,259,638 shares of the real estate investment trust’s stock worth $76,421,000 after acquiring an additional 164,284 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in STAG Industrial by 4.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,830,394 shares of the real estate investment trust’s stock worth $61,905,000 after acquiring an additional 79,762 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank of Canada dropped their price objective on STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating on the stock in a report on Monday, January 27th. Raymond James upped their price objective 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 STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating on the stock 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

Insider Buying and Selling

In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $35.10, for a total value 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. The trade was a 83.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

STAG Industrial Stock Performance

NYSE STAG opened at $35.44 on Thursday. STAG Industrial, Inc. has a 1-year low of $32.27 and a 1-year high of $41.63. The company has a market capitalization of $6.61 billion, a P/E ratio of 34.07 and a beta of 1.05. The business has a 50 day moving average price of $34.97 and a 200 day moving average price of $36.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.36 and a quick ratio of 1.36.

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

STAG Industrial Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.1242 per share. This is an increase 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 payout ratio is currently 143.27%.

About STAG Industrial

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.