OVERSEA CHINESE BANKING Corp Ltd Sells 100,093 Shares of Stag Industrial, Inc. $STAG

OVERSEA CHINESE BANKING Corp Ltd lowered its holdings in Stag Industrial, Inc. (NYSE:STAG) by 74.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,736 shares of the real estate investment trust’s stock after selling 100,093 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Stag Industrial were worth $1,191,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STAG. Park Avenue Securities LLC purchased a new stake in shares of Stag Industrial during the second quarter worth approximately $268,000. Voya Investment Management LLC raised its position in shares of Stag Industrial by 29.1% in the first quarter. Voya Investment Management LLC now owns 84,117 shares of the real estate investment trust’s stock valued at $3,038,000 after buying an additional 18,943 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Stag Industrial by 273.9% in the second quarter. Sequoia Financial Advisors LLC now owns 23,221 shares of the real estate investment trust’s stock worth $842,000 after buying an additional 17,010 shares in the last quarter. Pacific Heights Asset Management LLC lifted its stake in shares of Stag Industrial by 140.0% in the second quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the real estate investment trust’s stock worth $10,884,000 after buying an additional 175,000 shares in the last quarter. Finally, AXA S.A. boosted its position in Stag Industrial by 55.9% during the second quarter. AXA S.A. now owns 444,883 shares of the real estate investment trust’s stock worth $16,140,000 after acquiring an additional 159,580 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stag Industrial

In related news, EVP Michael Chase sold 13,144 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $38.75, for a total transaction of $509,330.00. Following the completion of the sale, the executive vice president owned 9,422 shares in the company, valued at $365,102.50. The trade was a 58.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Stag Industrial Stock Down 0.7%

Shares of NYSE:STAG opened at $37.45 on Friday. The business has a 50-day moving average price of $38.09 and a 200 day moving average price of $36.88. Stag Industrial, Inc. has a 12-month low of $28.61 and a 12-month high of $39.73. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 28.80 and a beta of 1.06.

Stag Industrial (NYSE:STAG) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Stag Industrial had a net margin of 29.24% and a return on equity of 6.84%. The firm had revenue of $211.12 million during the quarter, compared to analysts’ expectations of $210.26 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts expect that Stag Industrial, Inc. will post 2.47 EPS for the current year.

Stag Industrial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Stag Industrial’s dividend payout ratio is 114.62%.

Analysts Set New Price Targets

STAG has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Stag Industrial from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Cantor Fitzgerald assumed coverage on Stag Industrial in a research report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective on the stock. Barclays restated an “underweight” rating and issued a $39.00 target price (down from $40.00) on shares of Stag Industrial in a report on Tuesday. Robert W. Baird lifted their price target on Stag Industrial from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, Royal Bank Of Canada upped their price objective on shares of Stag Industrial from $38.00 to $42.00 and gave the company a “sector perform” rating in a report on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Stag Industrial has a consensus rating of “Hold” and an average target price of $39.33.

Stag Industrial Company Profile

Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company’s portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.

Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.