OLD National Bancorp IN Decreases Stock Holdings in STAG Industrial, Inc. (NYSE:STAG)

OLD National Bancorp IN reduced its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 62.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,443 shares of the real estate investment trust’s stock after selling 57,566 shares during the quarter. OLD National Bancorp IN’s holdings in STAG Industrial were worth $1,352,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its position in shares of STAG Industrial by 1.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,286,953 shares of the real estate investment trust’s stock worth $147,943,000 after purchasing an additional 59,463 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of STAG Industrial by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,728,355 shares of the real estate investment trust’s stock worth $94,156,000 after purchasing an additional 73,224 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of STAG Industrial by 1.1% during the fourth quarter. Boston Trust Walden Corp now owns 2,539,129 shares of the real estate investment trust’s stock worth $99,686,000 after purchasing an additional 28,304 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of STAG Industrial by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 2,444,172 shares of the real estate investment trust’s stock worth $84,348,000 after purchasing an additional 76,407 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of STAG Industrial by 35.3% during the third quarter. Invesco Ltd. now owns 1,613,265 shares of the real estate investment trust’s stock worth $55,674,000 after purchasing an additional 420,768 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STAG has been the topic of a number of recent research reports. Robert W. Baird reissued a “neutral” rating and set a $41.00 target price (up from $38.00) on shares of STAG Industrial in a research report on Friday, January 5th. Barclays started coverage on shares of STAG Industrial in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $42.00 price target (up from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Finally, Royal Bank of Canada upped their price target on shares of STAG Industrial from $39.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, STAG Industrial has a consensus rating of “Hold” and a consensus target price of $39.13.

STAG Industrial Stock Up 0.2 %

Shares of NYSE:STAG opened at $35.41 on Wednesday. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 32.79, a price-to-earnings-growth ratio of 4.99 and a beta of 1.02. STAG Industrial, Inc. has a 1-year low of $31.69 and a 1-year high of $39.61. The company’s fifty day moving average is $37.45 and its two-hundred day moving average is $36.84. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.79 and a current ratio of 1.79.

STAG Industrial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.1233 per share. The ex-dividend date is Friday, June 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.18%. STAG Industrial’s dividend payout ratio (DPR) is 137.04%.

About STAG Industrial

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.