Mackenzie Financial Corp reduced its position in shares of Stag Industrial Inc (NYSE:STAG) by 93.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,846 shares of the real estate investment trust’s stock after selling 119,626 shares during the period. Mackenzie Financial Corp’s holdings in Stag Industrial were worth $237,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Stag Industrial by 8.4% in the second quarter. Vanguard Group Inc. now owns 17,633,398 shares of the real estate investment trust’s stock valued at $533,235,000 after acquiring an additional 1,368,855 shares in the last quarter. BlackRock Inc. raised its holdings in Stag Industrial by 13.4% in the second quarter. BlackRock Inc. now owns 12,370,598 shares of the real estate investment trust’s stock valued at $374,085,000 after acquiring an additional 1,460,832 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Stag Industrial by 42.5% in the second quarter. Nuveen Asset Management LLC now owns 4,513,208 shares of the real estate investment trust’s stock valued at $136,478,000 after acquiring an additional 1,346,514 shares in the last quarter. Earnest Partners LLC acquired a new stake in Stag Industrial in the second quarter valued at $101,694,000. Finally, Northern Trust Corp raised its holdings in Stag Industrial by 66.1% in the second quarter. Northern Trust Corp now owns 2,750,894 shares of the real estate investment trust’s stock valued at $83,187,000 after acquiring an additional 1,095,183 shares in the last quarter. 88.99% of the stock is currently owned by hedge funds and other institutional investors.
STAG opened at $30.24 on Friday. The stock has a market capitalization of $3.84 billion, a PE ratio of 16.66, a P/E/G ratio of 4.30 and a beta of 0.89. The firm’s fifty day moving average price is $29.44 and its 200 day moving average price is $29.71. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.02 and a quick ratio of 1.02. Stag Industrial Inc has a 12-month low of $23.24 and a 12-month high of $31.66.
The firm also recently announced a dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.119 per share. The ex-dividend date is Friday, September 27th. Stag Industrial’s payout ratio is 79.89%.
In other Stag Industrial news, EVP Jeffrey M. Sullivan sold 35,815 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.37, for a total transaction of $1,051,886.55. Following the completion of the sale, the executive vice president now owns 35,815 shares in the company, valued at $1,051,886.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.
Several analysts recently issued reports on STAG shares. Zacks Investment Research raised shares of Stag Industrial from a “sell” rating to a “hold” rating in a report on Friday, October 4th. ValuEngine cut shares of Stag Industrial from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Stag Industrial presently has an average rating of “Hold” and a consensus price target of $30.63.
About Stag Industrial
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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