Stag Industrial (NYSE:STAG) Given New $40.00 Price Target at Wells Fargo & Company

Stag Industrial (NYSE:STAG) had its price objective lowered by analysts at Wells Fargo & Company from $41.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 7.72% from the stock’s previous close.

A number of other equities analysts also recently weighed in on STAG. JPMorgan Chase & Co. increased their price target on shares of Stag Industrial from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Robert W. Baird set a $40.00 price target on shares of Stag Industrial in a research note on Tuesday, February 17th. Wall Street Zen raised shares of Stag Industrial from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Barclays cut their price target on shares of Stag Industrial from $39.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 5th. Finally, Evercore reaffirmed an “outperform” rating and set a $44.00 price target on shares of Stag Industrial in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.00.

Stag Industrial Trading Down 1.9%

NYSE STAG traded down $0.74 during mid-day trading on Monday, reaching $37.13. 245,927 shares of the stock were exchanged, compared to its average volume of 1,359,394. Stag Industrial has a 1-year low of $33.72 and a 1-year high of $39.99. The business’s fifty day simple moving average is $37.95 and its 200 day simple moving average is $38.10. The stock has a market capitalization of $7.10 billion, a PE ratio of 28.78 and a beta of 0.98. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.57 and a current ratio of 1.57.

Stag Industrial (NYSE:STAG) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The firm had revenue of $224.21 million for the quarter, compared to analyst estimates of $221.52 million. Stag Industrial had a net margin of 28.25% and a return on equity of 6.80%. Stag Industrial’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 earnings per share. On average, research analysts anticipate that Stag Industrial will post 2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stag Industrial

A number of hedge funds have recently made changes to their positions in the business. Channing Capital Management LLC increased its stake in Stag Industrial by 8.3% during the 3rd quarter. Channing Capital Management LLC now owns 2,186,846 shares of the real estate investment trust’s stock worth $77,174,000 after buying an additional 167,093 shares during the period. Tudor Investment Corp ET AL acquired a new position in Stag Industrial during the 3rd quarter worth $11,422,000. Versor Investments LP acquired a new position in Stag Industrial during the 3rd quarter worth $922,000. JPMorgan Chase & Co. grew its holdings in Stag Industrial by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,495,511 shares of the real estate investment trust’s stock worth $52,778,000 after acquiring an additional 170,639 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co acquired a new position in Stag Industrial during the 3rd quarter worth $1,897,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.