STAG Industrial, Inc. (NYSE:STAG) Stake Increased by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Posted by Defense World Staff on May 6th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in STAG Industrial, Inc. (NYSE:STAG – Get Rating) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,039 shares of the real estate investment trust’s stock after buying an additional 5,187 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.05% of STAG Industrial worth $2,977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC bought a new stake in STAG Industrial during the second quarter valued at $27,000. Wipfli Financial Advisors LLC bought a new stake in STAG Industrial during the third quarter valued at $34,000. FourThought Financial LLC increased its stake in STAG Industrial by 199.8% during the third quarter. FourThought Financial LLC now owns 1,331 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 887 shares during the last quarter. Ellevest Inc. increased its stake in STAG Industrial by 742.3% during the third quarter. Ellevest Inc. now owns 1,373 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,210 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in STAG Industrial by 39.7% during the third quarter. SRS Capital Advisors Inc. now owns 1,446 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 411 shares during the last quarter. Institutional investors own 85.21% of the company’s stock.

Insider Buying and Selling

In other STAG Industrial news, Director Virgis Colbert sold 23,911 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $31.82, for a total value of $760,848.02. Following the completion of the sale, the director now directly owns 17,017 shares of the company’s stock, valued at approximately $541,480.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other STAG Industrial news, Director Virgis Colbert sold 23,911 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $31.82, for a total value of $760,848.02. Following the completion of the sale, the director now directly owns 17,017 shares of the company’s stock, valued at approximately $541,480.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benjamin S. Butcher sold 3,220 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $35.02, for a total transaction of $112,764.40. Following the completion of the sale, the insider now directly owns 3,868 shares of the company’s stock, valued at $135,457.36. The disclosure for this sale can be found here. Insiders sold 47,054 shares of company stock valued at $1,564,741 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

STAG Industrial Stock Performance

STAG stock opened at $35.15 on Friday. The company has a market capitalization of $6.31 billion, a P/E ratio of 35.87, a PEG ratio of 5.24 and a beta of 1.02. The company has a 50-day simple moving average of $33.22 and a 200 day simple moving average of $33.23. STAG Industrial, Inc. has a fifty-two week low of $26.56 and a fifty-two week high of $37.15. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.72.

STAG Industrial Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 28th will be issued a $0.123 dividend. The ex-dividend date is Thursday, April 27th. This represents a $1.48 annualized dividend and a yield of 4.20%. This is an increase from STAG Industrial’s previous monthly dividend of $0.12. STAG Industrial’s dividend payout ratio is presently 150.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on STAG shares. JPMorgan Chase & Co. upped their price target on shares of STAG Industrial from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, February 23rd. BMO Capital Markets started coverage on shares of STAG Industrial in a research report on Monday, February 6th. They set an “outperform” rating and a $41.00 price target for the company. Finally, StockNews.com started coverage on shares of STAG Industrial in a research report on Thursday, March 16th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, STAG Industrial currently has a consensus rating of “Moderate Buy” and an average price target of $37.83.

About STAG Industrial

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STAG Industrial, Inc is a real estate investment trust, which focuses on acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.