1,177,250 Stag Industrial, Inc. $STAG Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in Stag Industrial, Inc. (NYSE:STAG) by 574.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,382,316 shares of the real estate investment trust’s stock after purchasing an additional 1,177,250 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Stag Industrial were worth $49,501,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Readystate Asset Management LP purchased a new stake in Stag Industrial in the 2nd quarter valued at $2,602,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Stag Industrial during the second quarter valued at approximately $3,693,000. Squarepoint Ops LLC lifted its stake in Stag Industrial by 107.7% in the second quarter. Squarepoint Ops LLC now owns 84,332 shares of the real estate investment trust’s stock worth $3,210,000 after acquiring an additional 43,733 shares during the period. Man Group plc bought a new position in shares of Stag Industrial in the 2nd quarter worth approximately $5,772,000. Finally, Renaissance Technologies LLC bought a new stake in Stag Industrial in the first quarter worth $3,444,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Robert W. Baird upgraded shares of Stag Industrial from a “neutral” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Monday, August 31st. Wells Fargo & Company lowered their target price on Stag Industrial from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 1st. Jefferies Financial Group reissued a “buy” rating and issued a $43.00 target price on shares of Stag Industrial in a research note on Monday. Citigroup cut their price objective on Stag Industrial from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, October 29th. Finally, Barclays raised their price target on shares of Stag Industrial from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.20.

Stag Industrial Price Performance

Stag Industrial stock opened at $37.85 on Thursday. The company’s 50 day simple moving average is $36.76 and its 200-day simple moving average is $37.88. Stag Industrial, Inc. has a 1 year low of $35.14 and a 1 year high of $42.61. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 26.84 and a beta of 0.91.

Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.29). The firm had revenue of $231.05 million during the quarter, compared to analyst estimates of $227.16 million. Stag Industrial had a net margin of 29.88% and a return on equity of 7.28%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, equities research analysts expect that Stag Industrial, Inc. will post 2.64 earnings per share for the current year.

Stag Industrial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a $0.3875 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.55 annualized dividend and a dividend yield of 4.1%. Stag Industrial’s dividend payout ratio is currently 109.93%.

Stag Industrial Profile

STAG Industrial, Inc is a real estate investment trust (REIT) that owns, operates and acquires industrial properties throughout the United States. The company focuses primarily on single-tenant properties, which it leases to businesses for uses such as warehousing, distribution, manufacturing and logistics.

Its portfolio includes a range of industrial facilities serving tenants across diverse industries and geographic markets. STAG Industrial’s business activities include property acquisition, leasing, management and development, with an emphasis on facilities that support supply-chain and operating requirements.

Founded in 2010 and headquartered in Boston, Massachusetts, STAG Industrial became a publicly traded company in 2011.