Channing Capital Management LLC Decreases Stake in STAG Industrial, Inc. (NYSE:STAG)

Channing Capital Management LLC lowered its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 21.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,404,694 shares of the real estate investment trust’s stock after selling 379,327 shares during the quarter. Channing Capital Management LLC’s holdings in STAG Industrial were worth $55,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STAG. Fifth Third Bancorp lifted its holdings in STAG Industrial by 121.3% during the third quarter. Fifth Third Bancorp now owns 905 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 496 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of STAG Industrial during the 4th quarter worth $31,000. Rational Advisors LLC purchased a new position in shares of STAG Industrial in the 3rd quarter worth about $42,000. Sound Income Strategies LLC boosted its holdings in shares of STAG Industrial by 35.5% in the 4th quarter. Sound Income Strategies LLC now owns 1,363 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 357 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in STAG Industrial by 328.9% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,642 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 2,026 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Ratings Changes

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

STAG Industrial Stock Performance

Shares of NYSE STAG traded up $0.25 during midday trading on Friday, hitting $35.22. The company’s stock had a trading volume of 760,523 shares, compared to its average volume of 1,160,930. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 35.22, a P/E/G ratio of 4.97 and a beta of 1.05. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average price of $36.81 and a 200 day moving average price of $36.84. STAG Industrial, Inc. has a one year low of $31.69 and a one year high of $39.61.

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 yield of 4.20%. STAG Industrial’s payout ratio is 148.00%.

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.