Channing Capital Management LLC Sells 379,327 Shares of STAG Industrial, Inc. (NYSE:STAG)

Channing Capital Management LLC reduced its stake in shares of STAG Industrial, Inc. (NYSE:STAG) by 21.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,404,694 shares of the real estate investment trust’s stock after selling 379,327 shares during the quarter. Channing Capital Management LLC owned about 0.77% of STAG Industrial worth $55,148,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in shares of STAG Industrial by 274.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,078,879 shares of the real estate investment trust’s stock valued at $42,392,000 after buying an additional 790,794 shares during the period. Daiwa Securities Group Inc. grew its stake in STAG Industrial by 788.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 669,393 shares of the real estate investment trust’s stock valued at $26,281,000 after acquiring an additional 594,076 shares during the period. Invesco Ltd. grew its stake in STAG Industrial by 35.3% in the third quarter. Invesco Ltd. now owns 1,613,265 shares of the real estate investment trust’s stock valued at $55,674,000 after acquiring an additional 420,768 shares during the period. Crestwood Advisors Group LLC bought a new stake in shares of STAG Industrial in the third quarter worth about $10,124,000. Finally, Envestnet Asset Management Inc. raised its position in shares of STAG Industrial by 105.2% during the third quarter. Envestnet Asset Management Inc. now owns 449,517 shares of the real estate investment trust’s stock worth $15,513,000 after purchasing an additional 230,480 shares during the period. 88.67% of the stock is owned by institutional investors.

STAG Industrial Stock Up 0.7 %

Shares of NYSE STAG traded up $0.25 during midday trading on Friday, reaching $35.22. The company’s stock had a trading volume of 760,523 shares, compared to its average volume of 1,160,930. The stock has a 50 day simple moving average of $36.81 and a 200-day simple moving average of $36.84. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 4.97 and a beta of 1.05. STAG Industrial, Inc. has a fifty-two week low of $31.69 and a fifty-two week high of $39.61.

STAG Industrial Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.1233 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.48 annualized dividend and a yield of 4.20%. STAG Industrial’s payout ratio is currently 148.00%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STAG. Royal Bank of Canada boosted their price objective on STAG Industrial from $39.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, February 16th. BMO Capital Markets reissued an “outperform” rating and set a $42.00 price objective (up previously from $41.00) on shares of STAG Industrial in a research report on Monday, April 8th. Finally, Barclays started coverage on shares of STAG Industrial in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.13.

STAG Industrial Profile

We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.