Victory Capital Management Inc. Lowers Stock Position in Stag Industrial, Inc. $STAG

Victory Capital Management Inc. cut its holdings in shares of Stag Industrial, Inc. (NYSE:STAG) by 4.2% during the third quarter, Holdings Channel.com reports. The firm owned 488,595 shares of the real estate investment trust’s stock after selling 21,629 shares during the period. Victory Capital Management Inc.’s holdings in Stag Industrial were worth $17,243,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in Stag Industrial by 1.5% in the second quarter. State Street Corp now owns 9,539,842 shares of the real estate investment trust’s stock worth $347,261,000 after buying an additional 142,132 shares in the last quarter. Norges Bank bought a new stake in Stag Industrial during the 2nd quarter valued at $282,893,000. Alliancebernstein L.P. increased its holdings in shares of Stag Industrial by 4.3% in the 2nd quarter. Alliancebernstein L.P. now owns 3,950,923 shares of the real estate investment trust’s stock valued at $143,339,000 after acquiring an additional 162,887 shares during the period. Geode Capital Management LLC raised its position in shares of Stag Industrial by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,684,395 shares of the real estate investment trust’s stock worth $133,690,000 after acquiring an additional 46,713 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Stag Industrial by 0.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,231,901 shares of the real estate investment trust’s stock worth $117,253,000 after acquiring an additional 19,709 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STAG. JPMorgan Chase & Co. raised their price objective on Stag Industrial from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Evercore reissued an “outperform” rating on shares of Stag Industrial in a research report on Friday, February 13th. Robert W. Baird set a $40.00 price target on shares of Stag Industrial in a report on Tuesday, February 17th. Wall Street Zen raised shares of Stag Industrial from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Barclays reissued an “underweight” rating and set a $39.00 target price (down from $40.00) on shares of Stag Industrial in a research report on Tuesday, January 13th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.50.

Insider Activity at Stag Industrial

In related news, EVP Matts Pinard sold 25,242 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $39.18, for a total value of $988,981.56. Following the transaction, the executive vice president directly owned 951 shares of the company’s stock, valued at $37,260.18. This represents a 96.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Virgis Colbert sold 18,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $38.08, for a total value of $685,440.00. Following the completion of the transaction, the director owned 4,210 shares of the company’s stock, valued at $160,316.80. This trade represents a 81.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 136,974 shares of company stock valued at $5,345,904 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Stag Industrial Stock Performance

STAG opened at $38.37 on Wednesday. The company has a market cap of $7.33 billion, a P/E ratio of 26.28 and a beta of 1.04. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $38.10 and its 200-day moving average price is $37.64. Stag Industrial, Inc. has a 52-week low of $28.61 and a 52-week high of $39.98.

Stag Industrial (NYSE:STAG) last released its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. Stag Industrial had a net margin of 32.35% and a return on equity of 7.68%. The company had revenue of $220.90 million for the quarter, compared to the consensus estimate of $213.66 million. During the same quarter in the previous year, the firm earned $0.61 EPS. Stag Industrial’s revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts anticipate that Stag Industrial, Inc. will post 2.47 EPS for the current fiscal year.

Stag Industrial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.3875 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.0%. Stag Industrial’s payout ratio is 106.16%.

About Stag Industrial

Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company’s portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.

Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.