Citigroup Inc. trimmed its position in shares of STAG Industrial, Inc. (NYSE:STAG – Get Rating) by 34.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,540 shares of the real estate investment trust’s stock after selling 37,206 shares during the period. Citigroup Inc.’s holdings in STAG Industrial were worth $2,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Cetera Advisor Networks LLC grew its position in STAG Industrial by 15.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 9,087 shares of the real estate investment trust’s stock valued at $376,000 after acquiring an additional 1,188 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in STAG Industrial by 5.3% in the first quarter. Great West Life Assurance Co. Can now owns 152,981 shares of the real estate investment trust’s stock valued at $6,569,000 after buying an additional 7,714 shares during the last quarter. Sei Investments Co. raised its stake in STAG Industrial by 4.4% in the first quarter. Sei Investments Co. now owns 171,667 shares of the real estate investment trust’s stock valued at $7,142,000 after buying an additional 7,227 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of STAG Industrial by 10.2% in the first quarter. Allianz Asset Management GmbH now owns 111,680 shares of the real estate investment trust’s stock worth $4,618,000 after purchasing an additional 10,365 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of STAG Industrial by 23.0% in the first quarter. Cetera Investment Advisers now owns 6,204 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 1,161 shares during the last quarter. 85.21% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider Benjamin S. Butcher sold 3,220 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $35.02, for a total transaction of $112,764.40. Following the completion of the transaction, the insider now directly owns 3,868 shares of the company’s stock, valued at approximately $135,457.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Virgis Colbert sold 23,911 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $31.82, for a total transaction of $760,848.02. Following the completion of the transaction, the director now directly owns 17,017 shares of the company’s stock, valued at approximately $541,480.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Benjamin S. Butcher sold 3,220 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $35.02, for a total value 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 own 1.10% of the company’s stock.
STAG Industrial Price Performance
STAG Industrial Increases Dividend
The company also recently disclosed a monthly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 28th were paid a $0.123 dividend. The ex-dividend date was Thursday, April 27th. This is a boost from STAG Industrial’s previous monthly dividend of $0.12. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.38%. STAG Industrial’s payout ratio is presently 150.00%.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. StockNews.com initiated coverage on STAG Industrial in a research note on Thursday, May 18th. They issued a “hold” rating for the company. BMO Capital Markets began coverage on STAG Industrial in a research note on Monday, February 6th. They issued an “outperform” rating and a $41.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on STAG Industrial from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, February 23rd. Three 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, STAG Industrial currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.83.
STAG Industrial Company Profile
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.
Read More
- Get a free copy of the StockNews.com research report on STAG Industrial (STAG)
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