JPMorgan Chase & Co. trimmed its holdings in STAG Industrial, Inc. (NYSE:STAG – Free Report) by 30.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,290,213 shares of the real estate investment trust’s stock after selling 573,246 shares during the quarter. JPMorgan Chase & Co. owned about 0.72% of STAG Industrial worth $46,293,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in STAG Industrial by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,016,580 shares of the real estate investment trust’s stock worth $739,651,000 after buying an additional 253,301 shares in the last quarter. State Street Corp increased its holdings in STAG Industrial by 0.9% in the 1st quarter. State Street Corp now owns 8,766,405 shares of the real estate investment trust’s stock worth $297,534,000 after buying an additional 74,763 shares in the last quarter. Alliancebernstein L.P. increased its holdings in STAG Industrial by 13.9% in the 4th quarter. Alliancebernstein L.P. now owns 4,241,749 shares of the real estate investment trust’s stock worth $137,051,000 after buying an additional 516,088 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of STAG Industrial by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 3,806,675 shares of the real estate investment trust’s stock valued at $128,742,000 after purchasing an additional 132,536 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of STAG Industrial by 5.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,148,777 shares of the real estate investment trust’s stock valued at $97,234,000 after purchasing an additional 175,758 shares during the period. 88.68% of the stock is currently owned by institutional investors.

STAG Industrial Stock Up 1.5 %

NYSE STAG opened at $36.40 on Friday. The stock’s 50 day moving average is $34.46 and its 200 day moving average is $35.49. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.73. STAG Industrial, Inc. has a 12 month low of $31.01 and a 12 month high of $38.83. The stock has a market cap of $6.61 billion, a PE ratio of 35.69, a P/E/G ratio of 8.74 and a beta of 1.02.

STAG Industrial Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.1225 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.47 dividend on an annualized basis and a yield of 4.04%. STAG Industrial’s dividend payout ratio is presently 144.12%.

Insider Buying and Selling

In related news, Director Benjamin S. Butcher sold 30,340 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $36.32, for a total value of $1,101,948.80. Following the transaction, the director now directly owns 17,148 shares of the company’s stock, valued at approximately $622,815.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other STAG Industrial news, Director Benjamin S. Butcher sold 30,340 shares of STAG Industrial stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $36.32, for a total value of $1,101,948.80. Following the sale, the director now owns 17,148 shares of the company’s stock, valued at approximately $622,815.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin S. Butcher sold 3,150 shares of STAG Industrial stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $36.45, for a total value of $114,817.50. Following the completion of the sale, the director now directly owns 38,938 shares in the company, valued at approximately $1,419,290.10. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

STAG has been the subject of a number of recent research reports. Evercore ISI cut their price target on STAG Industrial from $41.00 to $39.00 in a research note on Monday, October 9th. Raymond James cut their price target on STAG Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Tuesday, October 31st. StockNews.com initiated coverage on STAG Industrial in a research note on Thursday, October 5th. They set a “hold” rating for the company. Citigroup boosted their price target on STAG Industrial from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, August 11th. Finally, Royal Bank of Canada cut STAG Industrial from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $42.00 to $39.00 in a research report on Friday, November 3rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.00.

Get Our Latest Analysis on STAG Industrial

About STAG Industrial (Free Report)

We are a REIT focused on the acquisition, ownership and operation of industrial properties throughout the United States. We seek to (i) identify properties for acquisition that offer relative value across all locations, industrial property types, and tenants through the principled application of our proprietary risk assessment model, (ii) operate our properties in an efficient, cost-effective manner, and (iii) capitalize our business appropriately given the characteristics of our assets.

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Original: MarketBeat News Feed: JPMorgan Chase & Co. Sells 573,246 Shares of STAG Industrial, Inc. (NYSE:STAG)