Stag Industrial Inc (NYSE:STAG)’s share price shot up 3.3% during trading on Wednesday . The company traded as high as $20.24 and last traded at $20.71, 160,456 shares were traded during mid-day trading. A decline of 92% from the average session volume of 2,118,696 shares. The stock had previously closed at $20.05.
A number of brokerages have recently commented on STAG. Raymond James boosted their price target on Stag Industrial from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Royal Bank of Canada restated a “buy” rating and issued a $35.00 price target on shares of Stag Industrial in a report on Tuesday, February 25th. Citigroup began coverage on Stag Industrial in a report on Thursday, February 27th. They issued a “neutral” rating and a $33.00 price target on the stock. JPMorgan Chase & Co. upgraded Stag Industrial from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $33.00 to $34.00 in a report on Wednesday, December 18th. Finally, JMP Securities restated an “outperform” rating and issued a $35.00 price target (up from $34.00) on shares of Stag Industrial in a report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Stag Industrial currently has a consensus rating of “Buy” and an average price target of $33.63.
The firm has a market cap of $3.08 billion, a P/E ratio of 64.59, a price-to-earnings-growth ratio of 3.98 and a beta of 1.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average of $27.97 and a 200-day moving average of $30.15.
The business also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.44 annualized dividend and a yield of 6.56%. Stag Industrial’s payout ratio is presently 78.26%.
In other Stag Industrial news, Director David G. King sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $31.32, for a total transaction of $939,600.00. Following the transaction, the director now owns 509 shares of the company’s stock, valued at $15,941.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Benjamin S. Butcher sold 95,067 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $31.32, for a total value of $2,977,498.44. Following the transaction, the chief executive officer now directly owns 62,088 shares in the company, valued at approximately $1,944,596.16. The disclosure for this sale can be found here. Insiders have sold 203,231 shares of company stock worth $6,365,195 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in STAG. Marshall Wace North America L.P. acquired a new position in Stag Industrial during the first quarter worth approximately $36,000. First Trust Advisors LP increased its position in Stag Industrial by 88.7% during the first quarter. First Trust Advisors LP now owns 82,198 shares of the real estate investment trust’s stock worth $2,437,000 after buying an additional 38,645 shares during the last quarter. Voya Investment Management LLC increased its position in Stag Industrial by 869.6% during the third quarter. Voya Investment Management LLC now owns 435,825 shares of the real estate investment trust’s stock worth $12,848,000 after buying an additional 390,874 shares during the last quarter. State Street Corp increased its position in Stag Industrial by 5.7% during the third quarter. State Street Corp now owns 4,216,196 shares of the real estate investment trust’s stock worth $124,789,000 after buying an additional 226,131 shares during the last quarter. Finally, Stifel Financial Corp increased its position in Stag Industrial by 220.7% during the third quarter. Stifel Financial Corp now owns 359,656 shares of the real estate investment trust’s stock worth $10,618,000 after buying an additional 247,500 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.
Stag Industrial Company Profile (NYSE:STAG)
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (?REIT?) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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