STAG Industrial (NYSE:STAG) Hits New 1-Year High at $40.69

STAG Industrial, Inc. (NYSE:STAG)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $40.69 and last traded at $40.67, with a volume of 313780 shares trading hands. The stock had previously closed at $40.41.

Wall Street Analysts Forecast Growth

STAG has been the subject of a number of recent analyst reports. BNP Paribas initiated coverage on shares of STAG Industrial in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $39.00 price objective for the company. Barclays reduced their price objective on STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, May 24th. Wedbush raised STAG Industrial from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $38.00 to $44.00 in a research note on Monday, July 22nd. Finally, BMO Capital Markets restated an “outperform” rating and set a $42.00 price target (up from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.50.

STAG Industrial Stock Performance

The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.78. The stock has a market cap of $7.43 billion, a P/E ratio of 40.41, a price-to-earnings-growth ratio of 5.71 and a beta of 1.09. The firm’s 50-day moving average is $36.33 and its two-hundred day moving average is $36.81.

STAG Industrial Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.1233 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, September 30th. STAG Industrial’s dividend payout ratio is presently 148.00%.

Insiders Place Their Bets

In other news, Director Benjamin S. Butcher sold 30,000 shares of the stock in a transaction dated 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 transaction, the director now owns 8,304 shares of the company’s stock, valued at approximately $289,062.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STAG. Principal Financial Group Inc. increased its position in STAG Industrial by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 748,765 shares of the real estate investment trust’s stock worth $29,397,000 after buying an additional 26,700 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in STAG Industrial during the first quarter worth $3,222,000. Louisiana State Employees Retirement System acquired a new position in STAG Industrial during the 4th quarter valued at $2,002,000. International Assets Investment Management LLC boosted its holdings in STAG Industrial by 3,860.5% in the 4th quarter. International Assets Investment Management LLC now owns 114,816 shares of the real estate investment trust’s stock valued at $4,508,000 after purchasing an additional 111,917 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in STAG Industrial by 22.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,248,373 shares of the real estate investment trust’s stock worth $206,051,000 after purchasing an additional 961,420 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.