Sumitomo Mitsui Trust Holdings Inc. Trims Position in STAG Industrial, Inc. (NYSE:STAG)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of STAG Industrial, Inc. (NYSE:STAG) by 3.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 205,510 shares of the real estate investment trust’s stock after selling 6,339 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.11% of STAG Industrial worth $7,900,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in STAG. Spire Wealth Management grew its holdings in STAG Industrial by 124.1% during the 4th quarter. Spire Wealth Management now owns 688 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 381 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of STAG Industrial during the fourth quarter worth about $31,000. ICA Group Wealth Management LLC purchased a new position in shares of STAG Industrial during the fourth quarter worth about $38,000. Transcendent Capital Group LLC purchased a new position in shares of STAG Industrial during the fourth quarter worth about $43,000. Finally, Fifth Third Bancorp grew its holdings in shares of STAG Industrial by 31.4% during the fourth quarter. Fifth Third Bancorp now owns 1,189 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

STAG Industrial Stock Performance

NYSE:STAG opened at $36.29 on Thursday. The business has a 50 day moving average of $35.41 and a 200 day moving average of $36.81. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 5.06 and a beta of 1.09. STAG Industrial, Inc. has a 1-year low of $31.69 and a 1-year high of $39.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.75 and a quick ratio of 1.75.

Insider Buying and Selling at STAG Industrial

In other STAG Industrial news, Director Benjamin S. Butcher sold 30,000 shares of the business’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 completion of the sale, the director now owns 8,304 shares in the company, valued at $289,062.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

STAG has been the subject of several recent analyst reports. Barclays cut 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. BNP Paribas started coverage on STAG Industrial in a report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 price objective for the company. Finally, BMO Capital Markets restated an “outperform” rating and issued a $42.00 target price (up previously from $41.00) on shares of STAG Industrial in a research report on Monday, April 8th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $39.00.

STAG Industrial Company Profile

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.