PNC Financial Services Group Inc. Grows Stake in Stag Industrial, Inc. (NYSE:STAG)

PNC Financial Services Group Inc. grew its position in Stag Industrial, Inc. (NYSE:STAG) by 24.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,955 shares of the real estate investment trust’s stock after purchasing an additional 3,099 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Stag Industrial were worth $576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc grew its holdings in shares of Stag Industrial by 204.9% during the first quarter. Versant Capital Management Inc now owns 753 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 506 shares during the last quarter. Tsfg LLC purchased a new stake in shares of Stag Industrial during the first quarter valued at $32,000. Garde Capital Inc. purchased a new stake in shares of Stag Industrial during the first quarter valued at $33,000. Harbour Investments Inc. grew its holdings in shares of Stag Industrial by 187.7% during the first quarter. Harbour Investments Inc. now owns 1,260 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 822 shares during the last quarter. Finally, Proathlete Wealth Management LLC purchased a new stake in shares of Stag Industrial during the first quarter valued at $47,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stag Industrial

In other Stag Industrial news, Director Benjamin S. Butcher sold 28,843 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $36.90, for a total transaction of $1,064,306.70. Following the sale, the director directly owned 7,115 shares in the company, valued at $262,543.50. This represents a 80.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on STAG shares. Evercore ISI boosted their target price on shares of Stag Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Raymond James Financial boosted their target price on shares of Stag Industrial from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Robert W. Baird decreased their target price on shares of Stag Industrial from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $38.00 target price on shares of Stag Industrial in a research report on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $38.17.

Stag Industrial Stock Performance

Stag Industrial stock opened at $34.75 on Wednesday. The firm has a 50 day simple moving average of $35.89 and a 200-day simple moving average of $34.97. Stag Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $40.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 27.36 and a beta of 0.91.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, hitting the consensus estimate of $0.63. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The firm had revenue of $207.44 million for the quarter, compared to analyst estimates of $206.37 million. During the same period in the prior year, the business posted $0.61 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.1242 per share. The ex-dividend date is Thursday, July 31st. This represents a yield of 422.0%. Stag Industrial’s dividend payout ratio is 117.32%.

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.