CIBC Private Wealth Group LLC Sells 2,188 Shares of STAG Industrial, Inc. (NYSE:STAG)

CIBC Private Wealth Group LLC decreased its stake in shares of STAG Industrial, Inc. (NYSE:STAG) by 20.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,400 shares of the real estate investment trust’s stock after selling 2,188 shares during the period. CIBC Private Wealth Group LLC’s holdings in STAG Industrial were worth $280,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in STAG. Norges Bank purchased a new position in STAG Industrial during the 4th quarter worth $75,471,000. Raymond James Financial Inc. purchased a new position in shares of STAG Industrial during the fourth quarter valued at $57,561,000. Prudential Financial Inc. raised its holdings in shares of STAG Industrial by 19.3% in the fourth quarter. Prudential Financial Inc. now owns 1,809,679 shares of the real estate investment trust’s stock valued at $61,203,000 after acquiring an additional 292,252 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in STAG Industrial by 33.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,004,562 shares of the real estate investment trust’s stock worth $33,974,000 after acquiring an additional 251,992 shares during the period. Finally, Channing Capital Management LLC grew its holdings in STAG Industrial by 7.8% during the 4th quarter. Channing Capital Management LLC now owns 2,259,638 shares of the real estate investment trust’s stock worth $76,421,000 after acquiring an additional 164,284 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

STAG Industrial Price Performance

NYSE STAG opened at $32.88 on Friday. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 31.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.36 and a quick ratio of 1.36. The stock’s fifty day moving average price is $35.25 and its 200 day moving average price is $35.92. STAG Industrial, Inc. has a 1 year low of $32.27 and a 1 year high of $41.63.

STAG Industrial (NYSE:STAG) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.43. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. As a group, equities research analysts forecast that STAG Industrial, Inc. will post 2.47 earnings per share for the current year.

STAG Industrial Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.1242 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a dividend yield of 4.25%. This is a positive change from STAG Industrial’s previous dividend of $0.12. STAG Industrial’s dividend payout ratio is presently 143.27%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STAG. Royal Bank of Canada cut their price objective on shares of STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating on the stock in a report on Monday, January 27th. Barclays reduced their price objective on shares of STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Finally, Raymond James raised their target price on shares of STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.38.

Insider Activity at STAG Industrial

In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of STAG Industrial stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $35.10, for a total transaction of $1,755,000.00. Following the completion of the transaction, the director now owns 9,632 shares in the company, valued at approximately $338,083.20. This trade represents a 83.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

STAG Industrial Company 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.