Readystate Asset Management LP bought a new position in Stag Industrial, Inc. (NYSE:STAG – Free Report) in the 2nd quarter, Holdings Channel reports. The firm bought 68,354 shares of the real estate investment trust’s stock, valued at approximately $2,602,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pacific Heights Asset Management LLC raised its holdings in shares of Stag Industrial by 25.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the real estate investment trust’s stock valued at $18,380,000 after acquiring an additional 100,000 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Stag Industrial during the 2nd quarter worth about $3,693,000. Bessemer Group Inc. increased its position in Stag Industrial by 8.0% during the 4th quarter. Bessemer Group Inc. now owns 834,733 shares of the real estate investment trust’s stock valued at $30,684,000 after purchasing an additional 61,675 shares during the period. Renaissance Technologies LLC purchased a new position in Stag Industrial during the 1st quarter valued at about $3,444,000. Finally, Geode Capital Management LLC raised its holdings in shares of Stag Industrial by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,830,915 shares of the real estate investment trust’s stock valued at $140,851,000 after purchasing an additional 65,502 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.
Stag Industrial Stock Performance
Shares of Stag Industrial stock opened at $37.68 on Monday. The company has a market capitalization of $7.27 billion, a PE ratio of 28.98 and a beta of 0.95. The company has a 50-day simple moving average of $38.44 and a two-hundred day simple moving average of $38.24. Stag Industrial, Inc. has a one year low of $34.40 and a one year high of $42.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.76 and a current ratio of 1.76.
Stag Industrial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, September 30th. Stag Industrial’s dividend payout ratio (DPR) is 119.23%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on STAG. Raymond James Financial initiated coverage on shares of Stag Industrial in a research note on Wednesday, June 17th. They set an “outperform” rating and a $44.00 price objective on the stock. Wall Street Zen raised shares of Stag Industrial from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “buy (b-)” rating on shares of Stag Industrial in a report on Friday, July 31st. Wells Fargo & Company dropped their target price on Stag Industrial from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 1st. Finally, Robert W. Baird upgraded Stag Industrial from a “neutral” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Monday, August 31st. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.70.
Check Out Our Latest Analysis on Stag Industrial
About Stag Industrial
Stag Industrial, Inc is a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of single-tenant industrial properties throughout the United States. The company’s portfolio is focused on free-standing warehouses, distribution centers and light manufacturing facilities designed to meet the logistical needs of a diverse tenant base. By concentrating on properties with straightforward layouts and minimal common-area maintenance, Stag Industrial seeks to deliver stable rental income and attractive risk-adjusted returns for its shareholders.
Since its founding in 2010 and initial public offering in 2011, Stag Industrial has pursued a disciplined investment strategy centered on high-quality, well-located assets.
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