STAG Industrial, Inc. (NYSE:STAG) Stake Lessened by California Public Employees Retirement System

Posted by Defense World Staff on May 14th, 2023

California Public Employees Retirement System lessened its stake in STAG Industrial, Inc. (NYSE:STAG – Get Rating) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 425,893 shares of the real estate investment trust’s stock after selling 18,462 shares during the period. California Public Employees Retirement System owned about 0.24% of STAG Industrial worth $13,761,000 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 shares of STAG Industrial in the second quarter worth $27,000. Wipfli Financial Advisors LLC bought a new stake in shares of STAG Industrial in the third quarter worth $34,000. FourThought Financial LLC increased its stake in shares of STAG Industrial by 199.8% in the third quarter. FourThought Financial LLC now owns 1,331 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 887 shares during the last quarter. Ellevest Inc. boosted its holdings in STAG Industrial by 742.3% in the third quarter. Ellevest Inc. now owns 1,373 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 1,210 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in STAG Industrial by 39.7% in the third quarter. SRS Capital Advisors Inc. now owns 1,446 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 411 shares during the period. Institutional investors own 85.21% of the company’s stock.

Insider Activity

In other news, insider Benjamin S. Butcher sold 19,923 shares of the business’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $34.69, for a total transaction of $691,128.87. Following the completion of the transaction, the insider now owns 7,088 shares of the company’s stock, valued at $245,882.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Benjamin S. Butcher sold 3,220 shares of STAG Industrial 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 sale, the insider now directly owns 3,868 shares in the company, valued at $135,457.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Benjamin S. Butcher sold 19,923 shares of STAG Industrial stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $34.69, for a total transaction of $691,128.87. Following the sale, the insider now owns 7,088 shares in the company, valued at $245,882.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,054 shares of company stock valued at $1,564,741. 1.10% of the stock is currently owned by company insiders.

STAG Industrial Stock Performance

Shares of STAG opened at $34.72 on Friday. STAG Industrial, Inc. has a 1 year low of $26.56 and a 1 year high of $37.15. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 5.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a fifty day moving average of $33.35 and a 200-day moving average of $33.48.

STAG Industrial Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 28th will be issued a dividend of $0.123 per share. This is an increase from STAG Industrial’s previous monthly dividend of $0.12. The ex-dividend date is Thursday, April 27th. This represents a $1.48 annualized dividend and a dividend yield of 4.25%. STAG Industrial’s payout ratio is 150.00%.

Analyst Upgrades and Downgrades

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