Russell Investments Group Ltd. Sells 68,865 Shares of Stag Industrial, Inc. $STAG

Russell Investments Group Ltd. trimmed its holdings in shares of Stag Industrial, Inc. (NYSE:STAG) by 20.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 265,365 shares of the real estate investment trust’s stock after selling 68,865 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Stag Industrial worth $9,627,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Private Trust Co. NA boosted its holdings in Stag Industrial by 2,183.9% during the 2nd quarter. Private Trust Co. NA now owns 708 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 677 shares during the period. Chung Wu Investment Group LLC purchased a new position in Stag Industrial in the 2nd quarter worth approximately $29,000. Keystone Global Partners LLC bought a new stake in Stag Industrial in the first quarter valued at approximately $41,000. Harbour Investments Inc. boosted its stake in shares of Stag Industrial by 187.7% during the first quarter. Harbour Investments Inc. now owns 1,260 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 822 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Stag Industrial by 58.7% during the second quarter. GAMMA Investing LLC now owns 1,458 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 539 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup lifted their target price on shares of Stag Industrial from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Evercore ISI raised their price target on shares of Stag Industrial from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Cantor Fitzgerald assumed coverage on shares of Stag Industrial in a research note on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective for the company. Robert W. Baird raised their target price on Stag Industrial from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Finally, Royal Bank Of Canada boosted their price target on Stag Industrial from $38.00 to $42.00 and gave the company a “sector perform” rating in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Stag Industrial has an average rating of “Hold” and a consensus target price of $38.89.

Stag Industrial Trading Down 0.9%

NYSE:STAG opened at $38.81 on Wednesday. The company has a 50-day moving average price of $37.78 and a 200-day moving average price of $36.51. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 29.85 and a beta of 1.06. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86. Stag Industrial, Inc. has a 12 month low of $28.61 and a 12 month high of $39.73.

Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Stag Industrial had a net margin of 29.24% and a return on equity of 6.82%. The company had revenue of $211.12 million during the quarter, compared to the consensus estimate of $210.26 million. During the same period in the prior year, the firm earned $0.60 earnings per share. Stag Industrial’s revenue was up 10.7% on a year-over-year basis. Equities analysts predict that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.1242 dividend. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. Stag Industrial’s dividend payout ratio is presently 114.62%.

Insiders Place Their Bets

In other news, EVP Michael Chase sold 13,144 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $38.75, for a total value of $509,330.00. Following the sale, the executive vice president directly owned 9,422 shares of the company’s stock, valued at $365,102.50. This represents a 58.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry T. Guillemette sold 2,004 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $35.20, for a total transaction of $70,540.80. Following the completion of the transaction, the director owned 38,666 shares of the company’s stock, valued at approximately $1,361,043.20. The trade was a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 40,148 shares of company stock worth $1,502,621. 1.10% of the stock is owned by corporate insiders.

Stag Industrial Profile

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.