STAG Industrial, Inc. (NYSE:STAG) Position Raised by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of STAG Industrial, Inc. (NYSE:STAGGet Rating) by 32.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,760 shares of the real estate investment trust’s stock after purchasing an additional 914 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in STAG Industrial were worth $116,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Truist Financial Corp boosted its stake in STAG Industrial by 43.2% during the 1st quarter. Truist Financial Corp now owns 12,074 shares of the real estate investment trust’s stock valued at $499,000 after purchasing an additional 3,642 shares during the period. National Asset Management Inc. grew its holdings in STAG Industrial by 67.7% in the 1st quarter. National Asset Management Inc. now owns 9,948 shares of the real estate investment trust’s stock worth $413,000 after buying an additional 4,015 shares in the last quarter. Arizona State Retirement System increased its position in STAG Industrial by 8.5% in the 1st quarter. Arizona State Retirement System now owns 47,311 shares of the real estate investment trust’s stock valued at $1,956,000 after acquiring an additional 3,699 shares during the period. abrdn plc raised its stake in STAG Industrial by 8.5% during the 1st quarter. abrdn plc now owns 70,652 shares of the real estate investment trust’s stock valued at $2,979,000 after acquiring an additional 5,507 shares in the last quarter. Finally, Versor Investments LP grew its position in STAG Industrial by 26.9% in the 1st quarter. Versor Investments LP now owns 16,761 shares of the real estate investment trust’s stock valued at $693,000 after buying an additional 3,548 shares in the last quarter. Institutional investors own 84.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. TheStreet lowered shares of STAG Industrial from a “b-” rating to a “c” rating in a research note on Wednesday, October 19th. Wells Fargo & Company lowered STAG Industrial from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $36.00 to $34.00 in a research note on Tuesday. Raymond James dropped their price objective on STAG Industrial from $39.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 11th. StockNews.com initiated coverage on STAG Industrial in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Evercore ISI dropped their price target on shares of STAG Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, STAG Industrial currently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

STAG Industrial Price Performance

Shares of STAG Industrial stock opened at $32.69 on Thursday. STAG Industrial, Inc. has a 12-month low of $26.56 and a 12-month high of $48.27. The firm has a market capitalization of $5.86 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 4.66 and a beta of 0.99. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average is $30.22 and its 200-day moving average is $31.47.

STAG Industrial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be issued a dividend of $0.1217 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.46 annualized dividend and a yield of 4.47%. STAG Industrial’s payout ratio is presently 109.78%.

STAG Industrial Profile

(Get Rating)

STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.

See Also

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Institutional Ownership by Quarter for STAG Industrial (NYSE:STAG)

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