BTC Capital Management Inc. Takes $278,000 Position in STAG Industrial, Inc. (NYSE:STAG)

BTC Capital Management Inc. bought a new position in STAG Industrial, Inc. (NYSE:STAG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,226 shares of the real estate investment trust’s stock, valued at approximately $278,000.

Other hedge funds also recently made changes to their positions in the company. Spire Wealth Management increased its position in shares of STAG Industrial by 124.1% in the fourth quarter. Spire Wealth Management now owns 688 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 381 shares during the period. HHM Wealth Advisors LLC purchased a new position in STAG Industrial during the 4th quarter valued at about $31,000. ICA Group Wealth Management LLC bought a new position in STAG Industrial during the 4th quarter valued at approximately $38,000. Transcendent Capital Group LLC purchased a new stake in STAG Industrial in the 4th quarter worth approximately $43,000. Finally, Fifth Third Bancorp grew its position in shares of STAG Industrial by 31.4% in the 4th quarter. Fifth Third Bancorp now owns 1,189 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 284 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at STAG Industrial

In other news, Director Benjamin S. Butcher sold 30,000 shares of the stock in a transaction on 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 directly owns 8,304 shares of the company’s stock, valued at $289,062.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

STAG Industrial Trading Up 0.3 %

NYSE:STAG opened at $35.46 on Friday. STAG Industrial, Inc. has a one year low of $31.69 and a one year high of $39.61. The company’s 50-day simple moving average is $35.21 and its 200 day simple moving average is $36.99. The firm has a market capitalization of $6.46 billion, a P/E ratio of 35.46, a PEG ratio of 5.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.75 and a quick ratio of 1.75.

STAG Industrial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.1233 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.48 annualized dividend and a dividend yield of 4.17%. STAG Industrial’s payout ratio is currently 148.00%.

Analyst Ratings Changes

A number of analysts recently commented on the company. 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. Barclays dropped their target price on shares of STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. Finally, BNP Paribas initiated coverage on shares of STAG Industrial in a research report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.00.

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.