Cornercap Investment Counsel Inc. Sells 7,520 Shares of STAG Industrial, Inc. (NYSE:STAG)

Cornercap Investment Counsel Inc. trimmed its stake in STAG Industrial, Inc. (NYSE:STAG) by 46.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,674 shares of the real estate investment trust’s stock after selling 7,520 shares during the period. Cornercap Investment Counsel Inc.’s holdings in STAG Industrial were worth $339,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. CIBC Asset Management Inc purchased a new position in STAG Industrial during the 3rd quarter worth $212,000. Metis Global Partners LLC boosted its position in shares of STAG Industrial by 29.7% in the 3rd quarter. Metis Global Partners LLC now owns 18,748 shares of the real estate investment trust’s stock worth $733,000 after purchasing an additional 4,294 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of STAG Industrial in the 3rd quarter worth $333,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of STAG Industrial by 0.4% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 111,167 shares of the real estate investment trust’s stock worth $4,346,000 after purchasing an additional 421 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of STAG Industrial in the 3rd quarter worth $349,000. 88.67% of the stock is owned by institutional investors.

STAG Industrial Trading Up 0.2 %

Shares of STAG opened at $36.21 on Monday. The stock has a fifty day moving average of $38.14 and a two-hundred day moving average of $37.63. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $6.60 billion, a PE ratio of 36.58 and a beta of 1.09. STAG Industrial, Inc. has a fifty-two week low of $34.09 and a fifty-two week high of $41.63.

STAG Industrial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.1233 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.09%. STAG Industrial’s dividend payout ratio is presently 149.49%.

Wall Street Analysts Forecast Growth

STAG has been the subject of a number of research reports. Evercore ISI lifted their price target on STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Wedbush lifted their price target on STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Barclays reduced their target price on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Wells Fargo & Company dropped their price target on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.13.

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.