Alliancebernstein L.P. Has $232.67 Million Holdings in STAG Industrial, Inc. (NYSE:STAG)

Alliancebernstein L.P. cut its stake in shares of STAG Industrial, Inc. (NYSE:STAGGet Rating) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,851,283 shares of the real estate investment trust’s stock after selling 1,039,155 shares during the period. Alliancebernstein L.P. owned approximately 2.86% of STAG Industrial worth $232,668,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Long Pond Capital LP lifted its holdings in STAG Industrial by 67.2% during the third quarter. Long Pond Capital LP now owns 2,241,984 shares of the real estate investment trust’s stock worth $87,998,000 after acquiring an additional 901,010 shares in the last quarter. State Street Corp lifted its holdings in STAG Industrial by 13.6% during the fourth quarter. State Street Corp now owns 7,305,816 shares of the real estate investment trust’s stock worth $351,258,000 after acquiring an additional 877,303 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in STAG Industrial by 19.1% during the fourth quarter. Nuveen Asset Management LLC now owns 2,741,423 shares of the real estate investment trust’s stock worth $131,478,000 after acquiring an additional 440,060 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in STAG Industrial during the fourth quarter worth about $18,702,000. Finally, Geode Capital Management LLC lifted its holdings in STAG Industrial by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 3,753,288 shares of the real estate investment trust’s stock worth $180,007,000 after acquiring an additional 308,960 shares in the last quarter. 84.18% of the stock is owned by institutional investors and hedge funds.

In other STAG Industrial news, CEO Benjamin S. Butcher sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $39.66, for a total transaction of $396,600.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Benjamin S. Butcher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $41.98, for a total value of $629,700.00. Following the transaction, the chief executive officer now directly owns 22,088 shares in the company, valued at approximately $927,254.24. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock worth $1,626,750 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

STAG opened at $33.28 on Friday. STAG Industrial, Inc. has a 52-week low of $31.49 and a 52-week high of $48.27. The firm has a market capitalization of $5.96 billion, a PE ratio of 25.60, a PEG ratio of 2.97 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.83 and a current ratio of 1.83. The business’s 50-day simple moving average is $38.09 and its 200 day simple moving average is $41.00.

STAG Industrial (NYSE:STAGGet Rating) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.22). STAG Industrial had a return on equity of 7.01% and a net margin of 37.63%. The company had revenue of $159.21 million for the quarter, compared to the consensus estimate of $156.38 million. During the same quarter in the previous year, the company posted $0.49 EPS. The business’s revenue was up 18.8% on a year-over-year basis. On average, research analysts forecast that STAG Industrial, Inc. will post 2.16 earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a dividend of $0.1217 per share. The ex-dividend date is Wednesday, June 29th. This represents a $1.46 annualized dividend and a yield of 4.39%. STAG Industrial’s payout ratio is presently 112.31%.

Several research firms have weighed in on STAG. StockNews.com began coverage on STAG Industrial in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered STAG Industrial from a “hold” rating to a “sell” rating in a report on Thursday, May 5th. Raymond James cut their price target on STAG Industrial from $50.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, February 22nd. Finally, Wells Fargo & Company cut their price target on STAG Industrial from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, March 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, STAG Industrial has a consensus rating of “Buy” and an average target price of $47.60.

STAG Industrial Company Profile (Get Rating)

STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.

See Also

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Institutional Ownership by Quarter for STAG Industrial (NYSE:STAG)

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