Zimmer Partners LP Sells 22,500 Shares of STAG Industrial, Inc. (NYSE:STAG)

Zimmer Partners LP reduced its stake in STAG Industrial, Inc. (NYSE:STAG) by 30.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,500 shares of the real estate investment trust’s stock after selling 22,500 shares during the period. Zimmer Partners LP’s holdings in STAG Industrial were worth $2,052,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd bought a new position in shares of STAG Industrial during the 3rd quarter valued at approximately $717,000. Cetera Investment Advisers grew its stake in shares of STAG Industrial by 763.9% in the 1st quarter. Cetera Investment Advisers now owns 70,788 shares of the real estate investment trust’s stock worth $2,721,000 after buying an additional 62,594 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of STAG Industrial by 2.2% in 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 last quarter. BNP Paribas Financial Markets raised its position in shares of STAG Industrial by 169.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 132,412 shares of the real estate investment trust’s stock valued at $5,176,000 after buying an additional 83,296 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of STAG Industrial by 314.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 145,520 shares of the real estate investment trust’s stock valued at $5,688,000 after acquiring an additional 110,410 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Ratings Changes

STAG has been the topic of several analyst reports. Wells Fargo & Company reduced their price objective on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Barclays cut their target price on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, Evercore ISI raised their price target on STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.13.

STAG Industrial Price Performance

STAG opened at $35.79 on Friday. The business has a fifty day moving average of $37.24 and a 200 day moving average of $37.71. The stock has a market cap of $6.52 billion, a P/E ratio of 36.15 and a beta of 1.07. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.87. STAG Industrial, Inc. has a 52-week low of $34.09 and a 52-week high of $41.63.

STAG Industrial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.1233 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 31st. STAG Industrial’s payout ratio is presently 149.49%.

STAG Industrial 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.