PNC Financial Services Group Inc. Has $1.05 Million Holdings in STAG Industrial, Inc. (NYSE:STAG)

PNC Financial Services Group Inc. grew its holdings in STAG Industrial, Inc. (NYSE:STAG) by 15.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,807 shares of the real estate investment trust’s stock after purchasing an additional 3,529 shares during the period. PNC Financial Services Group Inc.’s holdings in STAG Industrial were worth $1,048,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Pathstone Holdings LLC grew its position in STAG Industrial by 3.6% during the third quarter. Pathstone Holdings LLC now owns 100,622 shares of the real estate investment trust’s stock valued at $3,935,000 after purchasing an additional 3,455 shares in the last quarter. Quest Partners LLC purchased a new position in shares of STAG Industrial during the 3rd quarter valued at $566,000. Thrivent Financial for Lutherans grew its holdings in shares of STAG Industrial by 3.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 626,981 shares of the real estate investment trust’s stock valued at $24,509,000 after acquiring an additional 21,764 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of STAG Industrial by 2.6% in the third quarter. Natixis Advisors LLC now owns 358,301 shares of the real estate investment trust’s stock worth $14,006,000 after acquiring an additional 9,097 shares during the last quarter. Finally, Coastline Trust Co purchased a new stake in shares of STAG Industrial during the third quarter worth $55,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

STAG Industrial Stock Up 0.9 %

Shares of STAG stock opened at $37.35 on Thursday. The stock’s 50 day simple moving average is $37.69 and its 200 day simple moving average is $37.69. STAG Industrial, Inc. has a twelve month low of $34.09 and a twelve month high of $41.63. 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 $6.81 billion, a price-to-earnings ratio of 37.73 and a beta of 1.09.

STAG Industrial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.1233 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Tuesday, December 31st. STAG Industrial’s dividend payout ratio is 149.49%.

Wall Street Analysts Forecast Growth

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