Allspring Global Investments Holdings LLC Grows Stock Position in STAG Industrial, Inc. (NYSE:STAG)

Posted by Defense World Staff on Nov 1st, 2023

Allspring Global Investments Holdings LLC lifted its stake in shares of STAG Industrial, Inc. (NYSE:STAG – Free Report) by 20.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,783 shares of the real estate investment trust’s stock after purchasing an additional 55,584 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.18% of STAG Industrial worth $11,653,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Eagle Bay Advisors LLC purchased a new stake in shares of STAG Industrial during the second quarter worth approximately $27,000. Institutional & Family Asset Management LLC raised its stake in shares of STAG Industrial by 48.5% during the first quarter. Institutional & Family Asset Management LLC now owns 1,391 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 454 shares during the last quarter. American National Bank raised its stake in shares of STAG Industrial by 5,096.4% during the first quarter. American National Bank now owns 1,455 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,427 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in STAG Industrial by 304.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,625 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 1,223 shares during the period. Finally, Money Concepts Capital Corp acquired a new position in STAG Industrial during the fourth quarter worth $55,000. Hedge funds and other institutional investors own 88.68% of the company’s stock.

Insider Activity

In other news, Director Benjamin S. Butcher sold 3,150 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $36.45, for a total value of $114,817.50. Following the sale, the director now directly owns 38,938 shares in the company, valued at $1,419,290.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Raymond James dropped their price objective on STAG Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Tuesday. Citigroup upped their price objective on STAG Industrial from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of STAG Industrial in a report on Thursday, August 17th. Wells Fargo & Company upped their price objective on STAG Industrial from $33.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Finally, StockNews.com started coverage on STAG Industrial in a report on Thursday, October 5th. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, STAG Industrial has an average rating of “Hold” and a consensus target price of $38.43.

Read Our Latest Analysis on STAG Industrial

STAG Industrial Stock Up 1.7 %

STAG Industrial stock opened at $33.22 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 4.56 and a beta of 1.00. STAG Industrial, Inc. has a fifty-two week low of $30.58 and a fifty-two week high of $38.83. The stock’s fifty day moving average is $34.93 and its two-hundred day moving average is $35.32.

STAG Industrial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $0.1225 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.47 annualized dividend and a dividend yield of 4.43%. STAG Industrial’s dividend payout ratio is currently 144.12%.

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.

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

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