abrdn plc Sells 3,048 Shares of STAG Industrial, Inc. (NYSE:STAG)

abrdn plc lessened its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 57,015 shares of the real estate investment trust’s stock after selling 3,048 shares during the period. abrdn plc’s holdings in STAG Industrial were worth $2,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in STAG. Louisiana State Employees Retirement System bought a new position in STAG Industrial during the fourth quarter worth $2,002,000. International Assets Investment Management LLC lifted its stake in shares of STAG Industrial by 3,860.5% in the fourth quarter. International Assets Investment Management LLC now owns 114,816 shares of the real estate investment trust’s stock valued at $4,508,000 after buying an additional 111,917 shares in the last quarter. Sei Investments Co. lifted its stake in shares of STAG Industrial by 11.8% in the third quarter. Sei Investments Co. now owns 501,596 shares of the real estate investment trust’s stock valued at $17,310,000 after buying an additional 53,109 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in shares of STAG Industrial by 132.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 313,626 shares of the real estate investment trust’s stock valued at $10,823,000 after buying an additional 178,846 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its stake in shares of STAG Industrial by 5.3% in the fourth quarter. New York State Teachers Retirement System now owns 38,605 shares of the real estate investment trust’s stock valued at $1,516,000 after buying an additional 1,936 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

STAG Industrial Stock Performance

STAG Industrial stock opened at $34.48 on Monday. The firm’s 50 day simple moving average is $37.20 and its 200 day simple moving average is $36.83. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $6.27 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 4.87 and a beta of 1.02. STAG Industrial, Inc. has a 1-year low of $31.69 and a 1-year high of $39.61.

STAG Industrial Dividend Announcement

The company also recently announced 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. This represents a $1.48 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Friday, June 28th. STAG Industrial’s dividend payout ratio (DPR) is presently 137.04%.

Wall Street Analysts Forecast Growth

STAG has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on shares of STAG Industrial from $39.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 price objective (up previously from $38.00) on shares of STAG Industrial in a research report on Friday, January 5th. BMO Capital Markets reissued an “outperform” rating and issued a $42.00 price target (up previously from $41.00) on shares of STAG Industrial in a research report on Monday, April 8th. Finally, Barclays began coverage on shares of STAG Industrial in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.13.

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.