Bank of New York Mellon Corp Increases Holdings in STAG Industrial, Inc. (NYSE:STAG)

Bank of New York Mellon Corp lifted its position in STAG Industrial, Inc. (NYSE:STAG – Get Rating) by 6.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,525,689 shares of the real estate investment trust’s stock after purchasing an additional 98,200 shares during the quarter. Bank of New York Mellon Corp owned about 0.85% of STAG Industrial worth $43,375,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Coastal Investment Advisors Inc. raised its stake in shares of STAG Industrial by 3.2% in the third quarter. Coastal Investment Advisors Inc. now owns 10,917 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 342 shares during the last quarter. Xponance Inc. raised its position in STAG Industrial by 3.7% during the third quarter. Xponance Inc. now owns 10,121 shares of the real estate investment trust’s stock valued at $288,000 after acquiring an additional 358 shares in the last quarter. Amalgamated Bank raised its position in STAG Industrial by 1.7% during the third quarter. Amalgamated Bank now owns 23,314 shares of the real estate investment trust’s stock valued at $663,000 after acquiring an additional 386 shares in the last quarter. Capital Square LLC raised its position in STAG Industrial by 1.5% during the third quarter. Capital Square LLC now owns 26,578 shares of the real estate investment trust’s stock valued at $755,000 after acquiring an additional 399 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its position in STAG Industrial by 39.7% during the third quarter. SRS Capital Advisors Inc. now owns 1,446 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 411 shares in the last quarter. 85.21% of the stock is currently owned by hedge funds and other institutional investors.

STAG Industrial Stock Down 3.8 %

Shares of STAG opened at $31.37 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72. STAG Industrial, Inc. has a 12 month low of $26.56 and a 12 month high of $42.49. The stock’s 50 day moving average is $34.57 and its two-hundred day moving average is $32.34. The firm has a market cap of $5.63 billion, a P/E ratio of 31.37, a PEG ratio of 4.75 and a beta of 1.01.

STAG Industrial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be paid a $0.1225 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Thursday, March 30th. STAG Industrial’s dividend payout ratio is presently 147.00%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STAG. TheStreet upgraded STAG Industrial from a “c+” rating to a “b” rating in a research report on Wednesday, November 23rd. JPMorgan Chase & Co. lifted their price target on STAG Industrial from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, February 23rd. Wells Fargo & Company cut STAG Industrial from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $36.00 to $34.00 in a research report on Tuesday, November 22nd. Finally, BMO Capital Markets assumed coverage on STAG Industrial in a research report on Monday, February 6th. They set an “outperform” rating and a $41.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.83.

Insider Transactions at STAG Industrial

In other news, insider Benjamin S. Butcher sold 19,923 shares of STAG Industrial stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $34.69, for a total value of $691,128.87. Following the sale, the insider now directly owns 7,088 shares of the company’s stock, valued at $245,882.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

STAG Industrial Profile

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STAG Industrial, Inc is a real estate investment trust, which focuses on acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.