Principal Financial Group Inc. Has $16.48 Million Holdings in STAG Industrial, Inc. (NYSE:STAG)

Principal Financial Group Inc. lessened its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 30.5% during the third quarter, Holdings Channel.com reports. The firm owned 421,491 shares of the real estate investment trust’s stock after selling 184,761 shares during the quarter. Principal Financial Group Inc.’s holdings in STAG Industrial were worth $16,476,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. lifted its holdings in STAG Industrial by 54.1% in the third quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 306 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in STAG Industrial in the second quarter valued at $38,000. Coastline Trust Co acquired a new position in STAG Industrial in the third quarter valued at $55,000. GAMMA Investing LLC lifted its holdings in STAG Industrial by 72.7% in the third quarter. GAMMA Investing LLC now owns 1,566 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 659 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in STAG Industrial in the second quarter valued at $57,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

STAG Industrial Trading Down 1.2 %

STAG opened at $33.86 on Friday. STAG Industrial, Inc. has a 1-year low of $33.18 and a 1-year high of $41.63. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.87. The company has a market cap of $6.17 billion, a P/E ratio of 34.20 and a beta of 1.07. The company has a fifty day moving average price of $36.32 and a two-hundred day moving average price of $37.68.

STAG Industrial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.1233 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Tuesday, December 31st. STAG Industrial’s payout ratio is presently 149.49%.

Wall Street Analysts Forecast Growth

STAG has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Raymond James boosted their target price on shares of STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Barclays decreased their price target on shares of STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.00.

STAG Industrial 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.