Barclays Raises STAG Industrial (NYSE:STAG) Price Target to $42.00

STAG Industrial (NYSE:STAG) had its price target hoisted by Barclays from $38.00 to $42.00 in a research note published on Wednesday, Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the stock. BNP Paribas started coverage on shares of STAG Industrial in a research report on Tuesday, June 4th. They set a neutral rating and a $39.00 price objective for the company. Wedbush increased their price objective on shares of STAG Industrial from $44.00 to $45.00 and gave the company an outperform rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $40.63.

STAG Industrial Stock Performance

Shares of STAG stock opened at $39.34 on Wednesday. The firm has a market capitalization of $7.16 billion, a PE ratio of 39.34, a P/E/G ratio of 4.08 and a beta of 1.09. The company has a 50 day moving average price of $37.57 and a 200-day moving average price of $36.98. STAG Industrial has a 52 week low of $31.69 and a 52 week high of $41.63. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.82.

STAG Industrial Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.1233 per share. This represents a dividend yield of 3.63%. This is a boost from STAG Industrial’s previous dividend of $0.12. The ex-dividend date was Wednesday, July 31st. STAG Industrial’s dividend payout ratio is 148.00%.

Insider Activity at STAG Industrial

In other STAG Industrial news, Director Benjamin S. Butcher sold 34,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $40.78, for a total transaction of $1,386,520.00. Following the completion of the transaction, the director now owns 8,758 shares in the company, valued at $357,151.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Benjamin S. Butcher sold 30,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $34.81, for a total value of $1,044,300.00. Following the completion of the sale, the director now directly owns 8,304 shares in the company, valued at $289,062.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Benjamin S. Butcher sold 34,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $40.78, for a total transaction of $1,386,520.00. Following the transaction, the director now owns 8,758 shares in the company, valued at approximately $357,151.24. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STAG Industrial

A number of large investors have recently made changes to their positions in STAG. Principal Financial Group Inc. boosted its position in shares of STAG Industrial by 3.7% during the fourth quarter. Principal Financial Group Inc. now owns 748,765 shares of the real estate investment trust’s stock valued at $29,397,000 after buying an additional 26,700 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in STAG Industrial during the 1st quarter valued at $3,222,000. Louisiana State Employees Retirement System purchased a new position in STAG Industrial during the 4th quarter valued at $2,002,000. International Assets Investment Management LLC increased its stake in STAG Industrial by 3,860.5% in the fourth quarter. International Assets Investment Management LLC now owns 114,816 shares of the real estate investment trust’s stock worth $4,508,000 after purchasing an additional 111,917 shares during the period. Finally, Centersquare Investment Management LLC lifted its position in shares of STAG Industrial by 24.9% during the first quarter. Centersquare Investment Management LLC now owns 129,800 shares of the real estate investment trust’s stock worth $4,990,000 after purchasing an additional 25,844 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

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.