STAG Industrial, Inc. (NYSE:STAG) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 15.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,675 shares of the real estate investment trust’s stock after purchasing an additional 5,605 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in STAG Industrial were worth $1,675,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of STAG Industrial during the 4th quarter worth about $4,843,000. Verdence Capital Advisors LLC lifted its holdings in shares of STAG Industrial by 3.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,670 shares of the real estate investment trust’s stock worth $340,000 after acquiring an additional 301 shares during the period. Ipswich Investment Management Co. Inc. lifted its holdings in shares of STAG Industrial by 10.3% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 23,046 shares of the real estate investment trust’s stock worth $905,000 after acquiring an additional 2,160 shares during the period. Xponance Inc. boosted its position in shares of STAG Industrial by 1.6% in the fourth quarter. Xponance Inc. now owns 21,838 shares of the real estate investment trust’s stock worth $857,000 after acquiring an additional 338 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in STAG Industrial by 788.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 669,393 shares of the real estate investment trust’s stock worth $26,281,000 after purchasing an additional 594,076 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STAG has been the topic of a number of research analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $42.00 price target (up previously from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Barclays assumed coverage on STAG Industrial in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target on the stock. Royal Bank of Canada boosted their price target on STAG Industrial from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. Finally, Robert W. Baird reissued a “neutral” rating and set a $41.00 price target (up from $38.00) on shares of STAG Industrial in a research report on Friday, January 5th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, STAG Industrial currently has a consensus rating of “Hold” and a consensus target price of $39.13.

STAG Industrial Stock Performance

Shares of STAG opened at $34.74 on Thursday. The business’s 50 day moving average is $37.45 and its two-hundred day moving average is $36.84. STAG Industrial, Inc. has a 52-week low of $31.69 and a 52-week high of $39.61. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 5.00 and a beta of 1.02. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.76.

STAG Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.1233 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend is Friday, June 28th. STAG Industrial’s payout ratio is 137.04%.

STAG Industrial Company 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.