Boston Trust Walden Corp Sells 41,997 Shares of STAG Industrial, Inc. (NYSE:STAG)

26 Oct 2024, 16:32 by Tristan Rich · The Markets Daily

Boston Trust Walden Corp lowered its position in STAG Industrial, Inc. (NYSE:STAG – Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,510,755 shares of the real estate investment trust’s stock after selling 41,997 shares during the quarter. Boston Trust Walden Corp owned about 1.38% of STAG Industrial worth $98,145,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its holdings in shares of STAG Industrial by 89.5% in the first quarter. Daiwa Securities Group Inc. now owns 1,268,181 shares of the real estate investment trust’s stock worth $48,749,000 after acquiring an additional 598,788 shares during the period. Ceredex Value Advisors LLC purchased a new position in STAG Industrial during the 2nd quarter valued at about $13,188,000. Bessemer Group Inc. increased its position in shares of STAG Industrial by 69.3% during the first quarter. Bessemer Group Inc. now owns 785,916 shares of the real estate investment trust’s stock valued at $30,211,000 after buying an additional 321,785 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of STAG Industrial by 14.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,660,562 shares of the real estate investment trust’s stock worth $63,832,000 after buying an additional 209,670 shares in the last quarter. Finally, F M Investments LLC bought a new position in shares of STAG Industrial in the second quarter valued at approximately $6,534,000. 88.67% of the stock is currently owned by institutional investors.

STAG Industrial Price Performance

Shares of NYSE STAG traded down $0.76 during trading hours on Friday, reaching $37.05. 1,118,149 shares of the stock traded hands, compared to its average volume of 1,068,044. The company’s 50-day simple moving average is $39.02 and its two-hundred day simple moving average is $37.44. The company has a market capitalization of $6.75 billion, a P/E ratio of 35.63 and a beta of 1.09. STAG Industrial, Inc. has a 52-week low of $31.79 and a 52-week high of $41.63. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.82.

STAG Industrial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.1233 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.99%. STAG Industrial’s payout ratio is 142.31%.

Insider Activity

In related news, Director Benjamin S. Butcher sold 34,000 shares of STAG Industrial stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $40.78, for a total value of $1,386,520.00. Following the transaction, the director now owns 8,758 shares in the company, valued at $357,151.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on STAG. Evercore ISI upped their target price on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Barclays upped their price target on shares of STAG Industrial from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Wedbush boosted their target price on STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on STAG Industrial from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.22.

Check Out Our Latest Analysis on STAG

About STAG Industrial

(Free Report)

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.