Synovus Financial Corp Has $734,000 Stock Position in STAG Industrial, Inc. (NYSE:STAG)

Synovus Financial Corp raised its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,695 shares of the real estate investment trust’s stock after purchasing an additional 377 shares during the period. Synovus Financial Corp’s holdings in STAG Industrial were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of STAG. FMR LLC lifted its holdings in STAG Industrial by 30.1% in the fourth quarter. FMR LLC now owns 9,024,946 shares of the real estate investment trust’s stock valued at $305,224,000 after buying an additional 2,088,839 shares during the period. Geode Capital Management LLC lifted its stake in shares of STAG Industrial by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,421,549 shares of the real estate investment trust’s stock valued at $115,748,000 after purchasing an additional 18,009 shares during the period. Channing Capital Management LLC boosted its position in shares of STAG Industrial by 7.8% in the 4th quarter. Channing Capital Management LLC now owns 2,259,638 shares of the real estate investment trust’s stock worth $76,421,000 after purchasing an additional 164,284 shares during the last quarter. Norges Bank acquired a new stake in shares of STAG Industrial during the fourth quarter worth $75,471,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in STAG Industrial by 4.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,830,394 shares of the real estate investment trust’s stock valued at $61,905,000 after purchasing an additional 79,762 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

STAG Industrial Price Performance

Shares of STAG opened at $32.54 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market capitalization of $6.07 billion, a PE ratio of 31.29 and a beta of 0.96. The stock has a 50 day simple moving average of $34.68 and a 200 day simple moving average of $35.42. STAG Industrial, Inc. has a 52-week low of $28.61 and a 52-week high of $41.63.

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

STAG Industrial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.1242 dividend. This represents a $1.49 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, June 30th. STAG Industrial’s dividend payout ratio is 143.27%.

Insider Activity

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

Wall Street Analysts Forecast Growth

STAG has been the topic of a number of recent analyst reports. Raymond James reduced their target price on STAG Industrial from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Monday. Royal Bank of Canada reduced their price objective on shares of STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Monday, January 27th. Finally, Barclays lowered their target price on shares of STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, STAG Industrial presently has a consensus rating of “Hold” and an average price target of $39.57.

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.