Sumitomo Mitsui Trust Group Inc. Sells 1,129 Shares of STAG Industrial, Inc. (NYSE:STAG)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,329 shares of the real estate investment trust’s stock after selling 1,129 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.11% of STAG Industrial worth $7,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of STAG. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of STAG Industrial by 40.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,649 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 2,760 shares in the last quarter. Vanguard Group Inc. lifted its holdings in STAG Industrial by 0.7% in the first quarter. Vanguard Group Inc. now owns 26,237,263 shares of the real estate investment trust’s stock valued at $1,008,560,000 after acquiring an additional 176,332 shares during the period. Covestor Ltd lifted its holdings in STAG Industrial by 237.6% in the first quarter. Covestor Ltd now owns 1,148 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 808 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in STAG Industrial by 42.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,756 shares of the real estate investment trust’s stock valued at $529,000 after acquiring an additional 4,088 shares during the period. Finally, UniSuper Management Pty Ltd lifted its holdings in STAG Industrial by 1.9% in the first quarter. UniSuper Management Pty Ltd now owns 52,300 shares of the real estate investment trust’s stock valued at $2,010,000 after acquiring an additional 1,000 shares during the period. 88.67% of the stock is owned by institutional investors.

STAG Industrial Stock Performance

NYSE:STAG opened at $36.33 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.87. STAG Industrial, Inc. has a 12-month low of $34.09 and a 12-month high of $41.63. The stock has a 50-day moving average price of $38.08 and a 200 day moving average price of $37.64. The stock has a market capitalization of $6.62 billion, a P/E ratio of 36.69 and a beta of 1.09.

STAG Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.1233 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, December 31st. STAG Industrial’s dividend payout ratio is currently 149.49%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wedbush increased their target price on STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company lowered their target price on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Evercore ISI increased their target price on STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Finally, Barclays reduced their price target on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, STAG Industrial has a consensus rating of “Hold” and a consensus price target of $41.13.

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.