Public Employees Retirement System of Ohio Sells 8,051 Shares of STAG Industrial, Inc. (NYSE:STAG)

Public Employees Retirement System of Ohio trimmed its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 329,987 shares of the real estate investment trust’s stock after selling 8,051 shares during the period. Public Employees Retirement System of Ohio’s holdings in STAG Industrial were worth $12,685,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of STAG Industrial by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 748,765 shares of the real estate investment trust’s stock worth $29,397,000 after purchasing an additional 26,700 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in STAG Industrial in the 4th quarter valued at $2,002,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in STAG Industrial in the 1st quarter valued at $3,222,000. International Assets Investment Management LLC raised its position in STAG Industrial by 3,860.5% in the 4th 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in STAG Industrial by 22.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,248,373 shares of the real estate investment trust’s stock valued at $206,051,000 after buying an additional 961,420 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on STAG shares. Wedbush raised STAG Industrial from a “neutral” rating to an “outperform” rating and increased their price target for the company from $38.00 to $44.00 in a research report on Monday, July 22nd. Barclays decreased their target price on STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $42.00 target price (up from $41.00) on shares of STAG Industrial in a research report on Monday, April 8th. Finally, BNP Paribas initiated coverage on STAG Industrial in a research report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.50.

Insider Activity

In other news, Director Benjamin S. Butcher sold 30,000 shares of STAG Industrial stock in a transaction dated 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 sale, the director now owns 8,304 shares in the company, valued at approximately $289,062.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

STAG Industrial Price Performance

NYSE STAG traded down $0.03 during trading hours on Monday, hitting $40.40. The company had a trading volume of 673,131 shares, compared to its average volume of 1,130,603. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 5.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a 50 day simple moving average of $36.25 and a 200 day simple moving average of $36.79. STAG Industrial, Inc. has a 52 week low of $31.69 and a 52 week high of $40.68.

STAG Industrial Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.1233 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.66%. STAG Industrial’s dividend payout ratio (DPR) is presently 148.00%.

STAG Industrial Company 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.