Cornercap Investment Counsel Inc. Has $1.07 Million Stake in STAG Industrial, Inc. (NYSE:STAG)

Cornercap Investment Counsel Inc. raised its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,263 shares of the real estate investment trust’s stock after acquiring an additional 324 shares during the period. Cornercap Investment Counsel Inc.’s holdings in STAG Industrial were worth $1,070,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Sei Investments Co. boosted its stake in STAG Industrial by 11.8% in the third quarter. Sei Investments Co. now owns 501,596 shares of the real estate investment trust’s stock valued at $17,310,000 after acquiring an additional 53,109 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in STAG Industrial by 132.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 313,626 shares of the real estate investment trust’s stock worth $10,823,000 after purchasing an additional 178,846 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in STAG Industrial by 1.4% in 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 during the period. Boston Trust Walden Corp raised its holdings in STAG Industrial by 1.1% in 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 during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in STAG Industrial by 2.8% in 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 during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

STAG Industrial Stock Down 2.4 %

Shares of STAG stock opened at $36.19 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76. STAG Industrial, Inc. has a 1 year low of $31.69 and a 1 year high of $39.61. The firm’s fifty day moving average price is $37.73 and its two-hundred day moving average price is $36.79. The firm has a market capitalization of $6.58 billion, a P/E ratio of 33.51, a PEG ratio of 5.23 and a beta of 1.02.

STAG Industrial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.1233 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.48 annualized dividend and a yield of 4.09%. STAG Industrial’s payout ratio is currently 137.04%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $42.00 target price (up from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Royal Bank of Canada increased their target price on shares of STAG Industrial from $39.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, February 16th. Robert W. Baird restated a “neutral” rating and set a $41.00 price objective (up from $38.00) on shares of STAG Industrial in a report on Friday, January 5th. Finally, Barclays began coverage on shares of STAG Industrial in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, STAG Industrial has an average rating of “Hold” and a consensus target price of $39.13.

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.