Fisher Asset Management LLC Sells 59,734 Shares of STAG Industrial, Inc. (NYSE:STAG)

Fisher Asset Management LLC lowered its stake in shares of STAG Industrial, Inc. (NYSE:STAG) by 22.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 204,621 shares of the real estate investment trust’s stock after selling 59,734 shares during the quarter. Fisher Asset Management LLC owned approximately 0.11% of STAG Industrial worth $8,033,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of STAG Industrial by 328.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,642 shares of the real estate investment trust’s stock worth $91,000 after acquiring an additional 2,026 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of STAG Industrial by 14.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 87,922 shares of the real estate investment trust’s stock worth $2,997,000 after purchasing an additional 10,793 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of STAG Industrial in the third quarter worth about $544,000. Envestnet Asset Management Inc. lifted its stake in shares of STAG Industrial by 105.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 449,517 shares of the real estate investment trust’s stock valued at $15,513,000 after buying an additional 230,480 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in STAG Industrial by 35.3% in the 3rd quarter. Invesco Ltd. now owns 1,613,265 shares of the real estate investment trust’s stock worth $55,674,000 after buying an additional 420,768 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on STAG shares. Barclays lowered their target price on shares of STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, May 24th. BMO Capital Markets reissued an “outperform” rating and set a $42.00 price objective (up previously from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Finally, BNP Paribas began coverage on STAG Industrial in a report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 target price for the company. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, STAG Industrial presently has a consensus rating of “Hold” and an average price target of $39.00.

STAG Industrial Price Performance

Shares of NYSE STAG opened at $35.66 on Thursday. The firm has a market capitalization of $6.49 billion, a P/E ratio of 35.66, a P/E/G ratio of 5.04 and a beta of 1.08. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.78. The stock’s 50-day simple moving average is $35.28 and its two-hundred day simple moving average is $37.01. STAG Industrial, Inc. has a twelve month low of $31.69 and a twelve month high of $39.61.

STAG Industrial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.1233 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Friday, June 28th. STAG Industrial’s dividend payout ratio is currently 148.00%.

Insiders Place Their Bets

In other news, Director Benjamin S. Butcher sold 30,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $34.81, for a total transaction of $1,044,300.00. Following the sale, the director now owns 8,304 shares in the company, valued at approximately $289,062.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

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.