Cornercap Investment Counsel Inc. Sells 389 Shares of STAG Industrial, Inc. (NYSE:STAG)

Cornercap Investment Counsel Inc. lowered its stake in STAG Industrial, Inc. (NYSE:STAG) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,285 shares of the real estate investment trust’s stock after selling 389 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in STAG Industrial were worth $280,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in STAG. FMR LLC lifted its stake in STAG Industrial by 145.5% in the 3rd quarter. FMR LLC now owns 6,936,107 shares of the real estate investment trust’s stock valued at $271,132,000 after purchasing an additional 4,111,268 shares during the last quarter. Norges Bank acquired a new stake in shares of STAG Industrial during the 4th quarter valued at $75,471,000. Raymond James Financial Inc. bought a new stake in STAG Industrial during the 4th quarter worth $57,561,000. Prudential Financial Inc. increased its holdings in STAG Industrial by 19.3% in the 4th quarter. Prudential Financial Inc. now owns 1,809,679 shares of the real estate investment trust’s stock worth $61,203,000 after purchasing an additional 292,252 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in STAG Industrial by 33.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,004,562 shares of the real estate investment trust’s stock valued at $33,974,000 after purchasing an additional 251,992 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

STAG Industrial Trading Up 0.4 %

NYSE:STAG opened at $35.58 on Friday. STAG Industrial, Inc. has a 52 week low of $32.27 and a 52 week high of $41.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. The firm’s fifty day moving average is $35.17 and its 200-day moving average is $36.08. The firm has a market cap of $6.64 billion, a P/E ratio of 34.21 and a beta of 1.05.

STAG Industrial (NYSE:STAG) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.43. STAG Industrial had a net margin of 24.64% and a return on equity of 5.51%. Equities analysts expect that STAG Industrial, Inc. will post 2.47 earnings per share for the current year.

STAG Industrial Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.1242 dividend. This is an increase from STAG Industrial’s previous dividend of $0.12. This represents a yield of 4.25%. The ex-dividend date was Friday, February 28th. STAG Industrial’s payout ratio is presently 143.27%.

Wall Street Analysts Forecast Growth

STAG has been the subject of a number of research reports. Royal Bank of Canada dropped their price objective on shares of STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating for the company in a report on Monday, January 27th. Barclays dropped their price target on shares of STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Finally, Raymond James lifted their price target on shares of STAG Industrial from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.38.

Insider Buying and Selling at STAG Industrial

In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $35.10, for a total value of $1,755,000.00. Following the completion of the sale, the director now directly owns 9,632 shares in the company, valued at approximately $338,083.20. This trade represents a 83.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

STAG Industrial Company Profile

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.