Convergence Investment Partners LLC Sells 13,620 Shares of STAG Industrial, Inc. (NYSE:STAG)

Convergence Investment Partners LLC lowered its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 31.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,722 shares of the real estate investment trust’s stock after selling 13,620 shares during the quarter. Convergence Investment Partners LLC’s holdings in STAG Industrial were worth $1,005,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new stake in STAG Industrial during the 4th quarter valued at $43,000. Coastline Trust Co purchased a new stake in shares of STAG Industrial in the third quarter valued at $55,000. Hilltop National Bank lifted its holdings in shares of STAG Industrial by 19.2% in the 4th quarter. Hilltop National Bank now owns 2,243 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 362 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of STAG Industrial by 20.7% during the 4th quarter. Principal Securities Inc. now owns 2,977 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 510 shares during the period. Finally, Signaturefd LLC grew its holdings in STAG Industrial by 27.0% during the 3rd quarter. Signaturefd LLC now owns 2,995 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 636 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of STAG Industrial stock in a transaction dated 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 transaction, the director now owns 9,632 shares in the company, valued at $338,083.20. The trade was a 83.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on STAG. Wells Fargo & Company decreased their price objective on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Raymond James boosted their price objective on STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Barclays cut their price objective on STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada decreased their target price on STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.38.

STAG Industrial Trading Up 0.6 %

STAG opened at $35.20 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.86. The stock’s fifty day moving average is $34.25 and its two-hundred day moving average is $36.85. The company has a market capitalization of $6.57 billion, a P/E ratio of 33.84 and a beta of 1.09. STAG Industrial, Inc. has a 52 week low of $32.27 and a 52 week high of $41.63.

STAG Industrial (NYSE:STAG) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating 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%. Analysts forecast that STAG Industrial, Inc. will post 2.47 earnings per share for the current year.

STAG Industrial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.1242 per share. This represents a $1.49 annualized dividend and a yield of 4.23%. The ex-dividend date is Monday, March 31st. STAG Industrial’s payout ratio is 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.