M&T Bank Corp Has $1.09 Million Stock Position in STAG Industrial, Inc. (NYSE:STAG)

M&T Bank Corp cut its stake in shares of STAG Industrial, Inc. (NYSE:STAG) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,905 shares of the real estate investment trust’s stock after selling 626 shares during the period. M&T Bank Corp’s holdings in STAG Industrial were worth $1,090,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in STAG. Guardian Wealth Management Inc. lifted its holdings in STAG Industrial by 2.1% during the 3rd quarter. Guardian Wealth Management Inc. now owns 46,446 shares of the real estate investment trust’s stock worth $1,816,000 after purchasing an additional 965 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in STAG Industrial by 1.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 331,990 shares of the real estate investment trust’s stock worth $12,977,000 after buying an additional 3,944 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of STAG Industrial by 111.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 27,363 shares of the real estate investment trust’s stock worth $1,070,000 after buying an additional 14,427 shares in the last quarter. MML Investors Services LLC boosted its position in shares of STAG Industrial by 22.2% in the third quarter. MML Investors Services LLC now owns 10,338 shares of the real estate investment trust’s stock valued at $404,000 after acquiring an additional 1,877 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of STAG Industrial in the third quarter valued at about $1,106,000. Institutional investors own 88.67% of the company’s stock.

STAG Industrial Stock Up 0.8 %

NYSE STAG opened at $35.93 on Monday. The business has a fifty day moving average price of $37.01 and a two-hundred day moving average price of $37.76. The stock has a market capitalization of $6.55 billion, a PE ratio of 36.29 and a beta of 1.07. STAG Industrial, Inc. has a fifty-two week low of $34.09 and a fifty-two week high of $41.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42.

STAG Industrial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.1233 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.12%. STAG Industrial’s dividend payout ratio is currently 149.49%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Evercore ISI lifted their price objective on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Barclays cut their price target on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company lowered their price objective on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Finally, Raymond James upped their target price on STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.00.

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.