Principal Financial Group Inc. Has $16.48 Million Stock Holdings in STAG Industrial, Inc. (NYSE:STAG)

Principal Financial Group Inc. lowered its stake in STAG Industrial, Inc. (NYSE:STAG) by 30.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 421,491 shares of the real estate investment trust’s stock after selling 184,761 shares during the period. Principal Financial Group Inc.’s holdings in STAG Industrial were worth $16,476,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of STAG. Centerpoint Advisors LLC acquired a new stake in shares of STAG Industrial in the second quarter valued at approximately $25,000. UMB Bank n.a. raised its holdings in STAG Industrial by 54.1% in the 3rd quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 306 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of STAG Industrial by 56.1% during the 2nd quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 326 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of STAG Industrial during the 2nd quarter worth $38,000. Finally, Covestor Ltd increased its position in shares of STAG Industrial by 237.6% in the first quarter. Covestor Ltd now owns 1,148 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 808 shares during the period. 88.67% of the stock is owned by institutional investors.

STAG Industrial Stock Up 0.2 %

Shares of STAG stock opened at $36.22 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. STAG Industrial, Inc. has a one year low of $34.09 and a one year high of $41.63. The company’s fifty day moving average price is $38.14 and its 200-day moving average price is $37.59. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 36.58 and a beta of 1.09.

STAG Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.1233 per share. This represents a $1.48 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Tuesday, December 31st. STAG Industrial’s payout ratio is 149.49%.

Wall Street Analyst Weigh In

STAG has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Barclays lowered their price objective on shares of 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. Evercore ISI raised their target price on shares of STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Finally, 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 report on Monday, August 5th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.13.

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.