Texas Permanent School Fund Corp Grows Position in STAG Industrial, Inc. (NYSE:STAG)

Texas Permanent School Fund Corp grew its holdings in STAG Industrial, Inc. (NYSE:STAG) by 1.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 158,909 shares of the real estate investment trust’s stock after buying an additional 2,078 shares during the quarter. Texas Permanent School Fund Corp’s holdings in STAG Industrial were worth $6,108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in STAG Industrial by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 26,060,931 shares of the real estate investment trust’s stock valued at $1,023,152,000 after buying an additional 110,453 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of STAG Industrial by 22.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,248,373 shares of the real estate investment trust’s stock valued at $206,051,000 after purchasing an additional 961,420 shares during the period. Charles Schwab Investment Management Inc. increased its position in STAG Industrial by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,832,545 shares of the real estate investment trust’s stock worth $111,206,000 after purchasing an additional 104,190 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in STAG Industrial by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,660,590 shares of the real estate investment trust’s stock worth $104,456,000 after purchasing an additional 39,739 shares during the period. Finally, Boston Trust Walden Corp boosted its holdings in STAG Industrial by 1.1% in the 4th quarter. Boston Trust Walden Corp now owns 2,539,129 shares of the real estate investment trust’s stock valued at $99,686,000 after purchasing an additional 28,304 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STAG has been the subject of a number of recent analyst reports. Barclays cut their price target on shares of STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, May 24th. 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 research note on Monday, April 8th. BNP Paribas assumed coverage on STAG Industrial in a research report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 price objective for the company. Finally, Wedbush began coverage on shares of STAG Industrial in a research report on Friday. They issued a “neutral” rating and a $38.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.90.

Insider Activity

In other STAG Industrial news, Director Benjamin S. Butcher sold 30,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $34.81, for a total value of $1,044,300.00. Following the sale, the director now owns 8,304 shares of the company’s stock, valued at approximately $289,062.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

STAG Industrial Stock Up 0.7 %

Shares of STAG stock traded up $0.27 during trading on Friday, reaching $37.60. The company’s stock had a trading volume of 48,440 shares, compared to its average volume of 1,102,359. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 5.13 and a beta of 1.09. STAG Industrial, Inc. has a 1-year low of $31.69 and a 1-year high of $39.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.75 and a quick ratio of 1.75. The stock’s 50-day moving average price is $35.46 and its 200 day moving average price is $36.81.

STAG Industrial Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.1233 dividend. This is an increase from STAG Industrial’s previous monthly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.94%. STAG Industrial’s payout ratio is 148.00%.

About STAG Industrial

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.