State of New Jersey Common Pension Fund D Buys 6,662 Shares of STAG Industrial, Inc. (NYSE:STAG)

State of New Jersey Common Pension Fund D increased its stake in STAG Industrial, Inc. (NYSE:STAG) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,958 shares of the real estate investment trust’s stock after acquiring an additional 6,662 shares during the period. State of New Jersey Common Pension Fund D’s holdings in STAG Industrial were worth $6,323,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in shares of STAG Industrial in the 3rd quarter valued at about $717,000. Geode Capital Management LLC raised its position in STAG Industrial by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,403,540 shares of the real estate investment trust’s stock valued at $133,077,000 after purchasing an additional 21,925 shares during the last quarter. BNP Paribas Financial Markets raised its position in STAG Industrial by 169.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 132,412 shares of the real estate investment trust’s stock valued at $5,176,000 after purchasing an additional 83,296 shares during the last quarter. Los Angeles Capital Management LLC raised its position in STAG Industrial by 314.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 145,520 shares of the real estate investment trust’s stock valued at $5,688,000 after purchasing an additional 110,410 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in STAG Industrial by 187.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 97,875 shares of the real estate investment trust’s stock valued at $3,826,000 after purchasing an additional 63,808 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

STAG Industrial Stock Performance

STAG Industrial stock opened at $35.01 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $6.38 billion, a P/E ratio of 35.36 and a beta of 1.09. The stock’s 50 day moving average is $34.26 and its 200 day moving average is $36.87. STAG Industrial, Inc. has a twelve month low of $32.27 and a twelve month high of $41.63.

STAG Industrial (NYSE:STAG) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 EPS for the quarter, beating the consensus estimate of $0.18 by $0.43. STAG Industrial had a return on equity of 5.27% and a net margin of 23.94%. On average, equities research analysts predict that STAG Industrial, Inc. will post 2.41 earnings per share for the current fiscal year.

STAG Industrial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.1242 per share. The ex-dividend date is Monday, March 31st. This represents a $1.49 annualized dividend and a yield of 4.26%. STAG Industrial’s dividend payout ratio is 150.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on STAG shares. Royal Bank of Canada lowered their price target on STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday, January 27th. Barclays reduced their target price on STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Raymond James upped their target price on STAG Industrial from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company reduced their target price on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.38.

STAG Industrial Company Profile

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.