Phocas Financial Corp. increased its stake in shares of Stag Industrial, Inc. (NYSE:STAG) by 4.0% during the third quarter, Holdings Channel reports. The fund owned 23,407 shares of the company’s stock after buying an additional 908 shares during the period. Phocas Financial Corp.’s holdings in Stag Industrial were worth $574,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Bridge Creek Capital Management LLC increased its stake in Stag Industrial by 1.2% in the second quarter. Bridge Creek Capital Management LLC now owns 231,904 shares of the company’s stock valued at $5,522,000 after buying an additional 2,842 shares during the period. Forward Management LLC increased its stake in shares of Stag Industrial by 1.0% in the second quarter. Forward Management LLC now owns 1,943,000 shares of the company’s stock worth $46,263,000 after buying an additional 19,926 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Stag Industrial by 89.2% in the second quarter. JPMorgan Chase & Co. now owns 118,359 shares of the company’s stock worth $2,818,000 after buying an additional 55,810 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Stag Industrial by 7.7% in the second quarter. Nationwide Fund Advisors now owns 45,036 shares of the company’s stock worth $1,072,000 after buying an additional 3,209 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Stag Industrial by 15.1% in the second quarter. Teacher Retirement System of Texas now owns 9,576 shares of the company’s stock worth $228,000 after buying an additional 1,258 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.
Shares of Stag Industrial, Inc. (NYSE:STAG) traded up 1.43% on Friday, hitting $24.08. 669,385 shares of the stock traded hands. The firm’s market cap is $1.82 billion. The firm has a 50 day moving average price of $23.78 and a 200 day moving average price of $23.70. Stag Industrial, Inc. has a 52-week low of $15.35 and a 52-week high of $25.51.
The firm also recently declared a monthly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be issued a $0.1167 dividend. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $1.40 dividend on an annualized basis and a yield of 5.81%. Stag Industrial’s dividend payout ratio is presently -304.35%.
STAG has been the topic of several research analyst reports. Zacks Investment Research cut shares of Stag Industrial from a “buy” rating to a “hold” rating in a research report on Thursday, January 12th. Jefferies Group LLC upgraded shares of Stag Industrial from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Stag Industrial presently has a consensus rating of “Hold” and an average target price of $24.65.
Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company focuses on the acquisition and operation of single-tenant industrial properties across the United States. The Company owns approximately 290 buildings in over 40 states with approximately 54.7 million rentable square feet, consisting of over 220 warehouse/distribution buildings, approximately 50 light manufacturing buildings and over 20 flex/office buildings.
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