Harvest Portfolios Group Inc. Boosts Stake in STAG Industrial, Inc. (NYSE:STAG)

Harvest Portfolios Group Inc. boosted its stake in STAG Industrial, Inc. (NYSE:STAG - Free Report) by 168.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,687 shares of the real estate investment trust's stock after acquiring an additional 21,759 shares during the period. Harvest Portfolios Group Inc.'s holdings in STAG Industrial were worth $1,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J.Safra Asset Management Corp raised its position in STAG Industrial by 708.5% in the 1st quarter. J.Safra Asset Management Corp now owns 663 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 581 shares during the last quarter. Centerpoint Advisors LLC acquired a new stake in shares of STAG Industrial during the second quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new position in shares of STAG Industrial during the first quarter worth about $29,000. UMB Bank n.a. increased its position in STAG Industrial by 54.1% in the 3rd quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 306 shares during the period. Finally, GAMMA Investing LLC raised its stake in STAG Industrial by 56.1% during the 2nd quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 326 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of STAG Industrial from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, August 28th. Wedbush increased their price target on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, August 5th. Barclays lowered their price objective on STAG Industrial from $42.00 to $40.00 and set an "equal weight" rating on the stock in a report on Monday, October 28th. Finally, Wells Fargo & Company dropped their target price on STAG Industrial from $41.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $41.13.

STAG Industrial Price Performance

STAG traded down $0.85 on Thursday, hitting $37.13. 730,162 shares of the company were exchanged, compared to its average volume of 1,068,634. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.42 and a current ratio of 1.42. The business's fifty day moving average is $38.59 and its 200 day moving average is $37.51. STAG Industrial, Inc. has a fifty-two week low of $33.99 and a fifty-two week high of $41.63. The firm has a market capitalization of $6.77 billion, a P/E ratio of 38.36 and a beta of 1.09.

STAG Industrial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.1233 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.99%. STAG Industrial's dividend payout ratio is presently 149.49%.

About STAG Industrial

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.