Sumitomo Mitsui Trust Holdings Inc. Grows Stake in STAG Industrial, Inc. (NYSE:STAG)

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 211,849 shares of the real estate investment trust’s stock after acquiring an additional 11,870 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.12% of STAG Industrial worth $8,317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new position in STAG Industrial during the fourth quarter worth about $2,002,000. International Assets Investment Management LLC boosted its holdings in STAG Industrial by 3,860.5% in the 4th quarter. International Assets Investment Management LLC now owns 114,816 shares of the real estate investment trust’s stock valued at $4,508,000 after purchasing an additional 111,917 shares during the last quarter. Sei Investments Co. boosted its holdings in STAG Industrial by 11.8% in the 3rd quarter. Sei Investments Co. now owns 501,596 shares of the real estate investment trust’s stock valued at $17,310,000 after purchasing an additional 53,109 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in STAG Industrial by 132.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 313,626 shares of the real estate investment trust’s stock valued at $10,823,000 after purchasing an additional 178,846 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in STAG Industrial by 1.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,286,953 shares of the real estate investment trust’s stock valued at $147,943,000 after purchasing an additional 59,463 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STAG has been the topic of several recent analyst reports. Barclays initiated coverage on shares of STAG Industrial in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $41.00 target price (up from $38.00) on shares of STAG Industrial in a report on Friday, January 5th. 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. Finally, Royal Bank of Canada boosted their target price 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 stock. Based on data from MarketBeat.com, STAG Industrial presently has an average rating of “Hold” and a consensus price target of $39.13.

STAG Industrial Stock Performance

Shares of STAG stock opened at $35.41 on Wednesday. The firm’s 50 day moving average price is $37.45 and its 200-day moving average price 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, Inc. has a one year low of $31.69 and a one year high of $39.61. The firm has a market cap of $6.44 billion, a P/E ratio of 32.79, a P/E/G ratio of 4.99 and a beta of 1.02.

STAG Industrial Dividend Announcement

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

STAG Industrial Profile

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.