Texas Permanent School Fund Corp Has $4.90 Million Position in STAG Industrial, Inc. (NYSE:STAG)

Texas Permanent School Fund Corp reduced its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 14.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 135,901 shares of the real estate investment trust’s stock after selling 23,008 shares during the period. Texas Permanent School Fund Corp’s holdings in STAG Industrial were worth $4,901,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Choreo LLC acquired a new stake in STAG Industrial during the 2nd quarter valued at $406,000. Anchor Capital Advisors LLC raised its stake in STAG Industrial by 9.6% during the 2nd quarter. Anchor Capital Advisors LLC now owns 35,480 shares of the real estate investment trust’s stock valued at $1,279,000 after purchasing an additional 3,115 shares during the period. Los Angeles Capital Management LLC acquired a new stake in STAG Industrial during the 2nd quarter valued at $1,266,000. Arizona State Retirement System increased its stake in shares of STAG Industrial by 2.0% in the second quarter. Arizona State Retirement System now owns 50,905 shares of the real estate investment trust’s stock worth $1,836,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of STAG Industrial by 15.0% in the second quarter. Victory Capital Management Inc. now owns 483,740 shares of the real estate investment trust’s stock worth $17,444,000 after acquiring an additional 62,979 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other STAG Industrial news, Director Benjamin S. Butcher sold 34,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $40.78, for a total value of $1,386,520.00. Following the completion of the sale, the director now owns 8,758 shares of the company’s stock, valued at $357,151.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

STAG Industrial Price Performance

Shares of NYSE:STAG opened at $39.30 on Friday. STAG Industrial, Inc. has a fifty-two week low of $31.69 and a fifty-two week high of $41.63. The business has a 50-day moving average of $39.34 and a two-hundred day moving average of $37.25. The stock has a market capitalization of $7.16 billion, a P/E ratio of 39.30, a P/E/G ratio of 4.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.60.

STAG Industrial Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.1233 dividend. The ex-dividend date was Wednesday, July 31st. This represents a dividend yield of 3.63%. This is a boost from STAG Industrial’s previous dividend of $0.12. STAG Industrial’s payout ratio is currently 148.00%.

Analyst Ratings Changes

STAG has been the topic of a number of research reports. BNP Paribas initiated coverage on shares of STAG Industrial in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $39.00 price target on the stock. Wedbush upped their price target on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Evercore ISI upped their price target on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Wells Fargo & Company upped their price target on shares of STAG Industrial from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Barclays upped their price target on shares of STAG Industrial from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.22.

STAG Industrial 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.