Principal Financial Group Inc. Has $14.12 Million Stock Holdings in STAG Industrial, Inc. (NYSE:STAG)

Principal Financial Group Inc. cut its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 417,637 shares of the real estate investment trust’s stock after selling 3,854 shares during the quarter. Principal Financial Group Inc.’s holdings in STAG Industrial were worth $14,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in STAG Industrial in the 3rd quarter valued at about $717,000. Geode Capital Management LLC grew its stake in STAG Industrial by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,403,540 shares of the real estate investment trust’s stock valued at $133,077,000 after buying an additional 21,925 shares during the last quarter. BNP Paribas Financial Markets grew its stake in STAG Industrial by 169.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 132,412 shares of the real estate investment trust’s stock valued at $5,176,000 after buying an additional 83,296 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in STAG Industrial by 314.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 145,520 shares of the real estate investment trust’s stock valued at $5,688,000 after buying an additional 110,410 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in STAG Industrial by 187.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 97,875 shares of the real estate investment trust’s stock valued at $3,826,000 after buying an additional 63,808 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada decreased their price target on shares of STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Monday, January 27th. Barclays cut their price objective on shares of STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, Raymond James boosted their price objective on shares of STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, STAG Industrial presently has a consensus rating of “Moderate Buy” and an average price target of $40.38.

STAG Industrial Stock Performance

NYSE STAG opened at $35.60 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $6.64 billion, a P/E ratio of 34.23 and a beta of 1.09. STAG Industrial, Inc. has a 12-month low of $32.27 and a 12-month high of $41.63. The firm has a 50-day moving average price of $34.25 and a two-hundred day moving average price of $36.72.

STAG Industrial (NYSE:STAG) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.43. STAG Industrial had a net margin of 24.64% and a return on equity of 5.51%. Analysts anticipate that STAG Industrial, Inc. will post 2.47 earnings per share for the current year.

STAG Industrial Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.1242 per share. This represents a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from STAG Industrial’s previous dividend of $0.12. STAG Industrial’s dividend payout ratio is 143.27%.

Insider Transactions at STAG Industrial

In other news, Director Benjamin S. Butcher sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $35.10, for a total transaction of $1,755,000.00. Following the completion of the sale, the director now owns 9,632 shares of the company’s stock, valued at approximately $338,083.20. This represents a 83.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

STAG Industrial Company 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.