STAG Industrial (NYSE:STAG) Upgraded at Wedbush

Wedbush upgraded shares of STAG Industrial (NYSE:STAG) from a neutral rating to an outperform rating in a report released on Monday, Marketbeat reports. Wedbush currently has $44.00 price target on the real estate investment trust’s stock, up from their prior price target of $38.00.

A number of other equities analysts have also recently commented on the company. BMO Capital Markets reaffirmed an outperform rating and issued a $42.00 price target (up from $41.00) on shares of STAG Industrial in a research note on Monday, April 8th. BNP Paribas assumed coverage on STAG Industrial in a research report on Tuesday, June 4th. They issued a neutral rating and a $39.00 price objective on the stock. Finally, Barclays cut their price objective on STAG Industrial from $40.00 to $39.00 and set an equal weight rating on the stock in a research report on Friday, May 24th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, STAG Industrial presently has a consensus rating of Hold and a consensus target price of $39.50.

STAG Industrial Stock Performance

Shares of NYSE STAG opened at $39.63 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.78. The stock’s 50-day moving average is $36.10 and its 200 day moving average is $36.79. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 39.63, a P/E/G ratio of 5.67 and a beta of 1.09. STAG Industrial has a 1-year low of $31.69 and a 1-year high of $40.68.

STAG Industrial Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.1233 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.73%. STAG Industrial’s dividend payout ratio is presently 148.00%.

Insider Activity at STAG Industrial

In related news, Director Benjamin S. Butcher sold 30,000 shares of STAG Industrial stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $34.81, for a total transaction of $1,044,300.00. Following the sale, the director now directly owns 8,304 shares in the company, valued at $289,062.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of STAG. J.Safra Asset Management Corp raised its stake in shares of STAG Industrial by 708.5% in the first quarter. J.Safra Asset Management Corp now owns 663 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 581 shares during the last quarter. Spire Wealth Management increased its position in STAG Industrial by 124.1% during the fourth quarter. Spire Wealth Management now owns 688 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 381 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in STAG Industrial during the first quarter valued at $29,000. HHM Wealth Advisors LLC purchased a new stake in STAG Industrial during the fourth quarter valued at $31,000. Finally, GAMMA Investing LLC increased its position in STAG Industrial by 56.1% during the second quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

About STAG Industrial

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.