Virginia Wealth Management Group Inc. Acquires 22,493 Shares of STAG Industrial, Inc. (NYSE:STAG)

Virginia Wealth Management Group Inc. raised its stake in STAG Industrial, Inc. (NYSE:STAG) by 37.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,453 shares of the real estate investment trust’s stock after buying an additional 22,493 shares during the quarter. Virginia Wealth Management Group Inc.’s holdings in STAG Industrial were worth $3,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in STAG Industrial by 0.7% in the first quarter. Vanguard Group Inc. now owns 26,237,263 shares of the real estate investment trust’s stock valued at $1,008,560,000 after acquiring an additional 176,332 shares during the period. Earnest Partners LLC raised its holdings in STAG Industrial by 2.2% during the 2nd quarter. Earnest Partners LLC now owns 3,652,984 shares of the real estate investment trust’s stock worth $131,727,000 after buying an additional 78,189 shares during the period. Dimensional Fund Advisors LP lifted its stake in STAG Industrial by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,865,673 shares of the real estate investment trust’s stock valued at $103,333,000 after buying an additional 167,532 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in shares of STAG Industrial by 1.0% in the second quarter. Boston Trust Walden Corp now owns 2,552,752 shares of the real estate investment trust’s stock valued at $92,052,000 after buying an additional 25,779 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of STAG Industrial by 7.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,776,042 shares of the real estate investment trust’s stock worth $64,045,000 after acquiring an additional 115,480 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Analyst Ratings Changes

STAG has been the subject of several research reports. Evercore ISI raised their price target on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Barclays boosted their price target on STAG Industrial from $38.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Wells Fargo & Company upped their target price on STAG Industrial from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Wedbush upped their price target on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, STAG Industrial has a consensus rating of “Hold” and a consensus price target of $41.22.

Insider Buying and Selling at STAG Industrial

In other STAG Industrial news, Director Benjamin S. Butcher sold 34,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $40.78, for a total value of $1,386,520.00. Following the transaction, the director now directly owns 8,758 shares in the company, valued at $357,151.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

STAG Industrial Stock Up 0.6 %

STAG traded up $0.21 during midday trading on Friday, reaching $37.05. 47,340 shares of the company were exchanged, compared to its average volume of 1,065,857. STAG Industrial, Inc. has a one year low of $31.69 and a one year high of $41.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.60 and a current ratio of 1.60. The company’s fifty day moving average price is $39.36 and its 200 day moving average price is $37.43. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 35.42 and a beta of 1.09.

STAG Industrial Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.123 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Thursday, October 31st. STAG Industrial’s dividend payout ratio is presently 142.31%.

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.