STAG Industrial (NYSE:STAG) Price Target Lowered to $38.00 at Wells Fargo & Company

STAG Industrial (NYSE:STAG) had its price objective cut by Wells Fargo & Company from $41.00 to $38.00 in a report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other equities analysts have also issued reports on STAG. Wedbush raised their target price on STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Evercore ISI increased their price objective on shares of STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Finally, Barclays reduced their target price on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.13.

STAG Industrial Stock Down 0.4 %

NYSE STAG traded down $0.16 on Monday, hitting $36.65. The stock had a trading volume of 66,858 shares, compared to its average volume of 1,062,483. STAG Industrial has a 52-week low of $33.99 and a 52-week high of $41.63. The business’s fifty day moving average price is $38.77 and its 200 day moving average price is $37.47. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 37.18 and a beta of 1.09.

STAG Industrial Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.1233 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, December 31st. STAG Industrial’s dividend payout ratio is presently 149.49%.

Hedge Funds Weigh In On STAG Industrial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new stake in STAG Industrial during the first quarter valued at approximately $256,000. Mirae Asset Global Investments Co. Ltd. bought a new position in STAG Industrial in the 1st quarter valued at about $3,222,000. BNP Paribas Financial Markets boosted its holdings in shares of STAG Industrial by 12.9% in the first quarter. BNP Paribas Financial Markets now owns 119,156 shares of the real estate investment trust’s stock valued at $4,580,000 after acquiring an additional 13,574 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in STAG Industrial during the 1st quarter valued at $29,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of STAG Industrial in the 1st quarter worth $181,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

STAG Industrial Company Profile

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.