Cornercap Investment Counsel Inc. Has $280,000 Stock Holdings in STAG Industrial, Inc. (NYSE:STAG)

Cornercap Investment Counsel Inc. reduced its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 4.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,285 shares of the real estate investment trust’s stock after selling 389 shares during the period. Cornercap Investment Counsel Inc.’s holdings in STAG Industrial were worth $280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in STAG. FMR LLC boosted its stake in STAG Industrial by 145.5% during the 3rd quarter. FMR LLC now owns 6,936,107 shares of the real estate investment trust’s stock valued at $271,132,000 after purchasing an additional 4,111,268 shares during the last quarter. Norges Bank purchased a new position in shares of STAG Industrial during the fourth quarter valued at approximately $75,471,000. Raymond James Financial Inc. bought a new stake in STAG Industrial during the fourth quarter worth $57,561,000. Prudential Financial Inc. raised its position in STAG Industrial by 19.3% in the 4th quarter. Prudential Financial Inc. now owns 1,809,679 shares of the real estate investment trust’s stock valued at $61,203,000 after buying an additional 292,252 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in STAG Industrial by 33.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,004,562 shares of the real estate investment trust’s stock valued at $33,974,000 after acquiring an additional 251,992 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

STAG Industrial Trading Up 0.4 %

Shares of STAG stock opened at $35.58 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.86. The firm has a market cap of $6.64 billion, a P/E ratio of 34.21 and a beta of 1.05. The company has a 50 day moving average of $35.17 and a 200-day moving average of $36.08. STAG Industrial, Inc. has a 12-month low of $32.27 and a 12-month high of $41.63.

STAG Industrial (NYSE:STAG) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.43. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. Sell-side analysts anticipate that STAG Industrial, Inc. will post 2.47 earnings per share for the current year.

STAG Industrial Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.1242 dividend. This is an increase from STAG Industrial’s previous dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a dividend yield of 4.25%. STAG Industrial’s dividend payout ratio (DPR) is presently 143.27%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Raymond James increased 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. Royal Bank of Canada dropped their target price on shares of STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Monday, January 27th. Finally, Barclays reduced their target price on STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $40.38.

Insider Activity

In other news, Director Benjamin S. Butcher sold 50,000 shares of STAG Industrial stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $35.10, for a total value of $1,755,000.00. Following the completion of the transaction, the director now directly owns 9,632 shares in the company, valued at approximately $338,083.20. The trade was a 83.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

About STAG Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.