Stag Industrial, Inc. (NYSE:STAG) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System lifted its holdings in Stag Industrial, Inc. (NYSE:STAG) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,700 shares of the real estate investment trust’s stock after acquiring an additional 1,600 shares during the period. State of Michigan Retirement System’s holdings in Stag Industrial were worth $1,615,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Parr Mcknight Wealth Management Group LLC grew its holdings in Stag Industrial by 36.6% during the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 36,210 shares of the real estate investment trust’s stock valued at $1,308,000 after purchasing an additional 9,707 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Stag Industrial by 3.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 61,008 shares of the real estate investment trust’s stock valued at $2,212,000 after purchasing an additional 2,307 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Stag Industrial by 1.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 133,952 shares of the real estate investment trust’s stock valued at $4,703,000 after purchasing an additional 2,196 shares in the last quarter. M&T Bank Corp grew its holdings in Stag Industrial by 4.6% during the 1st quarter. M&T Bank Corp now owns 29,653 shares of the real estate investment trust’s stock valued at $1,071,000 after purchasing an additional 1,308 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Stag Industrial by 0.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 483,595 shares of the real estate investment trust’s stock valued at $17,467,000 after purchasing an additional 3,005 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Stag Industrial Trading Down 0.0%

NYSE STAG opened at $36.12 on Tuesday. The company’s fifty day moving average price is $35.76 and its two-hundred day moving average price is $34.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.25 and a quick ratio of 1.25. Stag Industrial, Inc. has a 12 month low of $28.61 and a 12 month high of $41.63. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 27.15 and a beta of 0.93.

Stag Industrial (NYSE:STAG) last posted its quarterly earnings results 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. Stag Industrial had a net margin of 31.05% and a return on equity of 7.04%. The company had revenue of $205.57 million for the quarter, compared to the consensus estimate of $202.04 million. During the same period last year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, research analysts predict that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

Stag Industrial Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.1242 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.13%. Stag Industrial’s payout ratio is currently 112.03%.

Insider Activity

In other news, Director Benjamin S. Butcher sold 28,843 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $36.90, for a total value of $1,064,306.70. Following the transaction, the director directly owned 7,115 shares in the company, valued at approximately $262,543.50. This trade represents a 80.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $38.00 price target on shares of Stag Industrial in a report on Monday, May 19th. Raymond James Financial increased their price objective on shares of Stag Industrial from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird reduced their price objective on shares of Stag Industrial from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stag Industrial currently has a consensus rating of “Hold” and a consensus target price of $39.71.

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.