M&T Bank Corp Has $698,000 Stock Position in STAG Industrial, Inc. (NYSE:STAG)

Posted by on Sep 3rd, 2023

M&T Bank Corp lifted its holdings in shares of STAG Industrial, Inc. (NYSE:STAG – Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,628 shares of the real estate investment trust’s stock after purchasing an additional 1,077 shares during the quarter. M&T Bank Corp’s holdings in STAG Industrial were worth $698,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cetera Advisor Networks LLC grew its stake 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 buying an additional 1,188 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in STAG Industrial by 5.3% in the 1st 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. grew its stake in STAG Industrial by 4.4% in the 1st 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 grew its stake in STAG Industrial by 10.2% in the 1st quarter. Allianz Asset Management GmbH now owns 111,680 shares of the real estate investment trust’s stock valued at $4,618,000 after buying an additional 10,365 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in STAG Industrial by 23.0% in the 1st quarter. Cetera Investment Advisers now owns 6,204 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 1,161 shares during the last quarter. Institutional investors and hedge funds own 88.68% of the company’s stock.

Insider Transactions at STAG Industrial

In related news, Director Benjamin S. Butcher sold 30,000 shares of STAG Industrial stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $36.47, for a total transaction of $1,094,100.00. Following the completion of the transaction, the director now directly owns 7,088 shares of the company’s stock, valued at approximately $258,499.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STAG has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of STAG Industrial in a research note on Thursday, August 17th. StockNews.com began coverage on shares of STAG Industrial in a report on Thursday, August 17th. They issued a “hold” rating for the company. Citigroup increased their price target on shares of STAG Industrial from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 11th. Raymond James increased their price target on shares of STAG Industrial from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Finally, Wells Fargo & Company increased their price target on shares of STAG Industrial from $33.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.43.

Check Out Our Latest Research Report on STAG

STAG Industrial Price Performance

NYSE:STAG opened at $36.88 on Friday. The company has a 50-day moving average of $36.42 and a 200-day moving average of $34.92. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 5.19 and a beta of 1.01. STAG Industrial, Inc. has a 52 week low of $26.56 and a 52 week high of $38.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.37.

STAG Industrial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.1225 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Thursday, September 28th. STAG Industrial’s payout ratio is 134.86%.

STAG Industrial Profile

(Free Report)

We are a REIT focused on the acquisition, ownership and operation of industrial properties throughout the United States. We seek to (i) identify properties for acquisition that offer relative value across all locations, industrial property types, and tenants through the principled application of our proprietary risk assessment model, (ii) operate our properties in an efficient, cost-effective manner, and (iii) capitalize our business appropriately given the characteristics of our assets.

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Institutional Ownership by Quarter for STAG Industrial (NYSE:STAG)

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