Westfield Capital Management Co. LP lowered its stake in shares of Stag Industrial Inc (NYSE:STAG) by 55.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 315,702 shares of the real estate investment trust’s stock after selling 399,184 shares during the period. Westfield Capital Management Co. LP owned about 0.34% of Stag Industrial worth $8,672,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. San Francisco Sentry Investment Group CA bought a new position in shares of Stag Industrial during the 2nd quarter valued at $117,000. Creative Planning raised its holdings in shares of Stag Industrial by 140.4% during the 2nd quarter. Creative Planning now owns 4,341 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 2,535 shares in the last quarter. Verition Fund Management LLC bought a new position in Stag Industrial in the 2nd quarter worth $200,000. Teacher Retirement System of Texas bought a new position in Stag Industrial in the 3rd quarter worth $200,000. Finally, Federated Investors Inc. PA bought a new position in Stag Industrial in the 2nd quarter worth $203,000. 82.08% of the stock is owned by institutional investors.
Shares of Stag Industrial Inc (NYSE STAG) traded down $0.39 during trading on Wednesday, hitting $27.45. 466,600 shares of the stock traded hands, compared to its average volume of 694,927. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.09 and a current ratio of 0.09. Stag Industrial Inc has a 1-year low of $22.64 and a 1-year high of $28.95. The firm has a market cap of $2,619.26, a price-to-earnings ratio of 16.67, a P/E/G ratio of 3.07 and a beta of 1.25.
The business also recently announced a monthly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.1183 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.17%. Stag Industrial’s payout ratio is 261.12%.
In other news, EVP Peter S. Fearey sold 1,033 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $28.71, for a total value of $29,657.43. Following the completion of the transaction, the executive vice president now owns 2,506 shares in the company, valued at $71,947.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.
Several brokerages recently commented on STAG. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Stag Industrial in a report on Friday, November 3rd. BidaskClub upgraded shares of Stag Industrial from a “strong sell” rating to a “sell” rating in a report on Saturday, November 4th. UBS upgraded shares of Stag Industrial from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $21.00 to $28.00 in a report on Friday, September 8th. TheStreet upgraded shares of Stag Industrial from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. Finally, ValuEngine upgraded shares of Stag Industrial from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.25.
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Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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