New York Life Investment Management LLC lowered its stake in STAG Industrial, Inc. (NYSE:STAG – Free Report) by 17.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,912 shares of the real estate investment trust’s stock after selling 1,703 shares during the period. New York Life Investment Management LLC’s holdings in STAG Industrial were worth $284,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in STAG. Norges Bank bought a new position in STAG Industrial in the 4th quarter worth $59,209,000. Channing Capital Management LLC acquired a new stake in shares of STAG Industrial in the first quarter valued at about $55,612,000. State Street Corp grew its position in shares of STAG Industrial by 17.2% in the first quarter. State Street Corp now owns 8,561,192 shares of the real estate investment trust’s stock valued at $355,024,000 after purchasing an additional 1,255,376 shares during the last quarter. Barclays PLC grew its position in shares of STAG Industrial by 684.2% in the second quarter. Barclays PLC now owns 1,346,788 shares of the real estate investment trust’s stock valued at $48,323,000 after purchasing an additional 1,175,049 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of STAG Industrial in the first quarter valued at about $34,565,000. Institutional investors own 88.68% of the company’s stock.
STAG Industrial Stock Performance
NYSE:STAG opened at $35.62 on Thursday. STAG Industrial, Inc. has a 1 year low of $31.01 and a 1 year high of $38.83. The firm has a 50 day moving average of $34.54 and a 200-day moving average of $35.40. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $6.47 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 8.20 and a beta of 1.02.
STAG Industrial Dividend Announcement
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on STAG shares. StockNews.com started coverage on STAG Industrial in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Wells Fargo & Company lifted their target price on STAG Industrial from $33.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Raymond James cut their price target on shares of STAG Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Tuesday, October 31st. Citigroup raised their price target on shares of STAG Industrial from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, August 11th. Finally, Royal Bank of Canada cut shares of STAG Industrial from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $42.00 to $39.00 in a research note on Friday, November 3rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.00.
In other news, Director Benjamin S. Butcher sold 3,150 shares of STAG Industrial stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $36.45, for a total value of $114,817.50. Following the completion of the transaction, the director now owns 38,938 shares in the company, valued at $1,419,290.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.
STAG Industrial Company Profile
We are a REIT focused on the acquisition, ownership and operation of industrial properties throughout the United States. We seek to (i) identify properties for acquisition that offer relative value across all locations, industrial property types, and tenants through the principled application of our proprietary risk assessment model, (ii) operate our properties in an efficient, cost-effective manner, and (iii) capitalize our business appropriately given the characteristics of our assets.
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