PNC Financial Services Group Inc. Sells 862 Shares of STAG Industrial, Inc. (NYSE:STAG)

PNC Financial Services Group Inc. trimmed its position in STAG Industrial, Inc. (NYSE:STAG) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,933 shares of the real estate investment trust’s stock after selling 862 shares during the quarter. PNC Financial Services Group Inc.’s holdings in STAG Industrial were worth $900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in 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 valued at $47,000 after buying an additional 284 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in STAG Industrial by 3.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,670 shares of the real estate investment trust’s stock worth $340,000 after purchasing an additional 301 shares in the last quarter. Cornercap Investment Counsel Inc. increased its holdings in STAG Industrial by 1.2% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 27,263 shares of the real estate investment trust’s stock worth $1,070,000 after purchasing an additional 324 shares in the last quarter. Xponance Inc. increased its holdings in STAG Industrial by 1.6% during the 4th quarter. Xponance Inc. now owns 21,838 shares of the real estate investment trust’s stock worth $857,000 after purchasing an additional 338 shares in the last quarter. Finally, Mariner LLC increased its holdings in STAG Industrial by 1.0% during the 3rd quarter. Mariner LLC now owns 33,229 shares of the real estate investment trust’s stock worth $1,147,000 after purchasing an additional 339 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on STAG shares. BMO Capital Markets reissued an “outperform” rating and set a $42.00 price objective (up from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Barclays decreased their price objective on STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, May 24th. Finally, BNP Paribas initiated coverage on STAG Industrial in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $39.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, STAG Industrial currently has an average rating of “Hold” and a consensus price target of $39.00.

Insider Activity at STAG Industrial

In related news, Director Benjamin S. Butcher sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 8,304 shares in the company, valued at $289,062.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

STAG Industrial Price Performance

STAG Industrial stock opened at $35.78 on Tuesday. STAG Industrial, Inc. has a 12 month low of $31.69 and a 12 month high of $39.61. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.78. The business’s 50 day simple moving average is $35.20 and its 200 day simple moving average is $37.00. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 5.00 and a beta of 1.08.

STAG Industrial Announces Dividend

The company also recently disclosed 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 yield of 4.14%. STAG Industrial’s payout ratio is 148.00%.

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.