In two filings with the Securities and Exchange Commission, Alan Reid
's Forward Management reported slightly decreasing its position in Stag Industrial Inc (NYSE:STAG)
. The fund reported holding around 2.202 million shares, versus some 2.207 million held previously. Currently, the passive stake held by Forward amasses 4.99% of Stag Industrial's common stock.
Stag Industrial Inc (NYSE:
STAG) focuses on acquisition, ownership and management of industrial properties in the U.S. These are then leased out to individual tenants. The company has a portfolio of 209 properties spawning 34 states with 38.1 million rentable square feet. The company recently announced
that it had renewed a lease for 5 years for 311,042 square feet in a warehouse and distribution property located in Chesterfield, Michigan. The tenant provides packaging solutions to the automotive industry. Apart from Forward Management, Aqr Capital Management, managed by Cliff Asness
, held approximately 283,000 shares worth $5.70 million and Jim Simons
’ Renaissance Technologies held 277,000 shares worth $5.58 million at the end of the third quarter.
In a separate filing, Forward disclosed owning some 1.19 million shares of Armada Hoffler Properties Inc (NYSE:AHH)
, up from 1.18 million reported in Forward's latest 13F. The stake amasses 6.22% of Armada's common stock.
Armada Hoffler Properties, Inc develops, builds, owns, and manages office, retail and multifamily properties throughout the Mid-Atlantic United States. Apart from Forward Management, Aew Capital Management, managed by Jeffrey Furber
, held 1.02 million shares worth $10.13 million in the company followed by Israel Englander
’s Millennium Management with approximately 99,000 shares worth $982,000 at the end of the third quarter.
Forward Management had $1.54 billion in its equity portfolio at the end of the third quarter of 2013. With a multi-fund strategy, the fund has a majority holding in the Financial sector, though it also invests in other sectors.
According to the latest 13F, Forward also owns 1.30 million shares worth $32.03 million in Hospitality Properties Trust (NYSE:HPT
) and 2.85 million shares worth $32.02 million in Lexington Realty Trust (NYSE:LXP
) at the end of the third quarter.
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