Resona Asset Management Co. Ltd. Purchases Shares of 72,676 STAG Industrial, Inc. (NYSE:STAG)

Resona Asset Management Co. Ltd. purchased a new stake in STAG Industrial, Inc. (NYSE:STAG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,676 shares of the real estate investment trust’s stock, valued at approximately $2,461,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in STAG Industrial in the fourth quarter valued at approximately $43,000. Hilltop National Bank increased its stake in STAG Industrial by 19.2% in the fourth quarter. Hilltop National Bank now owns 2,243 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 362 shares during the last quarter. Principal Securities Inc. increased its stake in STAG Industrial by 20.7% in the fourth quarter. Principal Securities Inc. now owns 2,977 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 510 shares during the last quarter. Aew Capital Management L P increased its stake in STAG Industrial by 52.4% in the fourth quarter. Aew Capital Management L P now owns 3,200 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in STAG Industrial in the fourth quarter valued at approximately $109,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $35.10, for a total value of $1,755,000.00. Following the completion of the sale, the director now owns 9,632 shares of the company’s stock, valued at approximately $338,083.20. This trade represents a 83.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

STAG Industrial Price Performance

Shares of NYSE STAG opened at $32.18 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a fifty day moving average price of $34.94 and a 200 day moving average price of $35.65. STAG Industrial, Inc. has a 1-year low of $28.61 and a 1-year high of $41.63. The company has a market cap of $6.01 billion, a PE ratio of 30.94 and a beta of 0.96.

STAG Industrial (NYSE:STAG) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.43. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. Sell-side analysts forecast that STAG Industrial, Inc. will post 2.47 EPS for the current year.

STAG Industrial Increases Dividend

The business also recently declared a dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.1242 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from STAG Industrial’s previous dividend of $0.12. This represents a dividend yield of 4.25%. STAG Industrial’s dividend payout ratio (DPR) is currently 143.27%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STAG shares. Raymond James increased their price objective on STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Barclays decreased their price objective on STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, Royal Bank of Canada decreased their price objective on STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating for the company in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.14.

About STAG Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.