Channing Capital Management LLC Trims Stock Position in Stag Industrial, Inc. $STAG

Channing Capital Management LLC lowered its position in shares of Stag Industrial, Inc. (NYSE:STAG) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,039,159 shares of the real estate investment trust’s stock after selling 220,479 shares during the period. Stag Industrial accounts for about 2.2% of Channing Capital Management LLC’s holdings, making the stock its 14th biggest position. Channing Capital Management LLC owned 1.09% of Stag Industrial worth $73,654,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CW Advisors LLC lifted its position in Stag Industrial by 63.8% during the first quarter. CW Advisors LLC now owns 15,135 shares of the real estate investment trust’s stock valued at $547,000 after purchasing an additional 5,895 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Stag Industrial by 6.5% during the first quarter. Hsbc Holdings PLC now owns 147,526 shares of the real estate investment trust’s stock worth $5,328,000 after acquiring an additional 9,053 shares in the last quarter. Keystone Global Partners LLC purchased a new position in shares of Stag Industrial during the first quarter worth approximately $41,000. Cascade Financial Partners LLC raised its stake in shares of Stag Industrial by 261.6% during the first quarter. Cascade Financial Partners LLC now owns 23,098 shares of the real estate investment trust’s stock worth $834,000 after acquiring an additional 16,711 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Stag Industrial by 8.9% during the first quarter. Raymond James Financial Inc. now owns 1,853,187 shares of the real estate investment trust’s stock worth $66,937,000 after acquiring an additional 151,192 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Buying and Selling at Stag Industrial

In related news, Director Benjamin S. Butcher sold 28,843 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $36.90, for a total value of $1,064,306.70. Following the completion of the transaction, the director directly owned 7,115 shares in the company, valued at $262,543.50. This trade represents a 80.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $38.00 price target on shares of Stag Industrial in a research note on Monday, May 19th. Evercore ISI lifted their price target on shares of Stag Industrial from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Robert W. Baird decreased their target price on shares of Stag Industrial from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, Raymond James Financial lifted their target price on shares of Stag Industrial from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Stag Industrial currently has a consensus rating of “Hold” and a consensus target price of $38.17.

Stag Industrial Stock Down 0.7%

Shares of Stag Industrial stock opened at $35.8550 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86. The company’s fifty day simple moving average is $35.72 and its two-hundred day simple moving average is $35.00. The company has a market cap of $6.69 billion, a P/E ratio of 28.23 and a beta of 0.91. Stag Industrial, Inc. has a 12-month low of $28.61 and a 12-month high of $40.75.

Stag Industrial (NYSE:STAG) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.63. The business had revenue of $207.44 million for the quarter, compared to the consensus estimate of $206.37 million. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. Research analysts anticipate that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $0.1242 per share. This represents a yield of 422.0%. The ex-dividend date of this dividend was Thursday, July 31st. Stag Industrial’s payout ratio is presently 117.32%.

About Stag Industrial

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.