Bank of America Corp DE Has $41.68 Million Stake in STAG Industrial, Inc. (NYSE:STAG)

Bank of America Corp DE raised its stake in STAG Industrial, Inc. (NYSE:STAG) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,232,421 shares of the real estate investment trust’s stock after buying an additional 90,915 shares during the quarter. Bank of America Corp DE owned 0.68% of STAG Industrial worth $41,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in STAG. Sugar Maple Asset Management LLC acquired a new position in STAG Industrial in the fourth quarter valued at about $43,000. Quarry LP acquired a new position in STAG Industrial in the fourth quarter valued at about $62,000. Principal Securities Inc. lifted its stake in STAG Industrial by 20.7% in the fourth quarter. Principal Securities Inc. now owns 2,977 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 510 shares during the period. Aew Capital Management L P lifted its stake in STAG Industrial by 52.4% in the fourth quarter. Aew Capital Management L P now owns 3,200 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 1,100 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in STAG Industrial in the fourth quarter valued at about $109,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

STAG Industrial Stock Up 1.6%

NYSE:STAG opened at $35.48 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market cap of $6.62 billion, a PE ratio of 34.12 and a beta of 0.93. STAG Industrial, Inc. has a 52-week low of $28.61 and a 52-week high of $41.63. The stock has a 50-day simple moving average of $33.82 and a 200 day simple moving average of $34.81.

STAG Industrial (NYSE:STAG) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $205.57 million during the quarter, compared to the consensus estimate of $202.04 million. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. STAG Industrial’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. On average, sell-side analysts expect that STAG Industrial, Inc. will post 2.47 EPS for the current fiscal year.

STAG Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.1242 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.20%. STAG Industrial’s payout ratio is presently 112.03%.

Wall Street Analyst Weigh In

STAG has been the subject of several recent analyst reports. Raymond James increased their price target on STAG Industrial from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Royal Bank of Canada lowered their price target on STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating for the company in a report on Monday, January 27th. Barclays lowered their price target on 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, Robert W. Baird lowered their price target on STAG Industrial from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.63.

Insider Buying and Selling

In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $35.10, for a total value of $1,755,000.00. Following the completion of the transaction, the director now directly owns 9,632 shares in the company, valued at $338,083.20. This trade represents a 83.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

About STAG Industrial

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.